The POCT market in India is expanding. In terms of revenue, the India POCT market grew at a positive CAGR between FY'2013 and FY'2018. Medical research and development advances, as well as the recent rise in the frequency of chronic diseases among the Indian population, all contributed to this surge. The demand for POCT devices in the nation has increased as a result of consumers becoming more conscious of their health over time.
In this segment, we will decode the growing trends of the POCT industry in India and discuss them in detail. So, let’s dive in.
1. India POCT market is still in its nascent stage, Demand for home-based healthcare devices and remote patient monitoring has aided to the growth of the market
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2. Growing trend of automation and modernization of laboratories and hospitals will further lead to future opportunities in the POCT market, leading to increased number of new entrants
3. Currently, Growing awareness, telemedicine, rise in chronic and infectious diseases, and growing healthcare infrastructure are the major factors impacting the growth of India’s POCT Market
4. However, lack of Infrastructure, regulatory challenges, quality control, and data privacy are major reasons which directly affect the India POCT Market
5. But, the Indian government has taken a number of steps to promote the use of Point-of-Care Testing (POCT) devices and to ensure the quality of tests performed by them
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