- India ranks at number 7 amongst the 20 wellness tourism markets with millions of trips made to India, medical value tourism generated multi-billion in revenue in 2022.
One of the nations where pricey medical procedures can be afforded is India. The cost of treatment in India is thought to be only 10% to 20% of what comparable procedures would cost in the West and other nations. India has a sizable number of hospitals with Joint Commission International (JCI) accreditation. There are 35+ hospitals in India that have received JCI certification overall. The Indian government has established a re-visa scheme for tourists from specific nations, enabling guests to stay for up to 60 days, where the process of applying for an e-visa is as simple as doing it online.
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- There is an increased demand for POCT devices due to the increasing demand for rapid and accurate diagnosis
Since 2000, the POCT market in India has grown consistently. Due to the price, there was only restricted access to these products up until 2018. Additionally, there was no legislative structure in place to encourage the adoption of POCTs in India. The Indian POCT market expanded as a result of expanding demand for quick and accurate diagnoses, increased government initiatives, and greater public awareness. The need for remote patient monitoring and home healthcare equipment also contributed to the market's expansion.
- Telemedicine, rising incidences of infectious and chronic diseases, and expanding healthcare infrastructure are the main factors affecting the India POCT Market
The POCT market in India is expanding as more people are becoming aware of its benefits, such as its affordability, accuracy, and simplicity, as well as the rising incidence of infectious diseases. There is a need for testing that is affordable, accessible, and efficient because of India's extremely dense rural population and the absence of high-end, automated, and expensive diagnostic technologies. Smartphones are utilized for diagnostics as well as data collection and analysis. Due to this, POCT mobile applications have been created, which is further boosting the industry. Telemedicine will make it possible for doctors to diagnose patients remotely, reducing the need for in-person visits to the hospital.
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- Major factors that have a direct impact on the Indian POCT Market include a lack of infrastructure, regulatory obstacles, issues with quality control, and data privacy
In order for POCT technology to be used in India, a number of regulatory concerns must be resolved. These include the Clinical Establishments Act, other state legislation, and the requirement for registration and approval from the Indian Drug Regulatory Authority. India lacks the infrastructure necessary for POCT because there aren't enough diagnostic facilities, pieces of equipment, or skilled workers there. In India, a significant problem with POCT technology is quality control. The absence of standardization is to blame for this. As a result of the inadequate data protection legislation in India, data privacy is a significant concern. Because POCT devices frequently exploit their generated data for commercial objectives, issues about patient data privacy are raised.
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