NEW DELHI, INDIA, October 10, 2008
/24-7PressRelease/ -- Our new research report, "Indian Healthcare - New Avenues for Growth", reveals that the large scale prevalence of infectious and chronic diseases will enable India to become one of the fastest growing IVD markets in the world.
According to the report, the Indian IVD market was worth around US$ 293 Million in 2007, with routine chemistry and clinical chemistry being the largest segments in the industry. The market was primilarly driven by the increase of both infectious and lifestyle diseases. Infectious diseases such as malaria, tuberculosis, dengue and hepatitis have a very high prevalence in India. We expect that owing to the country's low standards of hygiene and sanitary conditions, infectious diseases will maintain their prevalence in future as well. Thus, detection and monitoring of infectious diseases is likely to remain a strong growth area in the IVD market in future.
In addition to infectious diseases, the research has found that increasing urbanization, unhealthy diets and growing sedentary lifestyle have strongly boosted the prevalence of lifestyle-related diseases such as diabetes and cardiovascular diseases in the country. For instance, in 2007, India had an estimated 34 Million diabetes patients - the highest in the world. The report cites that the strong rise in the number of diabetes patients in India has created a huge opportunity for diabetes diagnostic and monitoring devices.
According to our research, the IVD market of India is projected to grow at a CAGR of around 17% by 2012, enabling the country to become Asia's third largest IVD market after Japan and China.
"Indian Healthcare - New Avenues for Growth" contains unique market-based research and provides through and prudent analysis on the Indian healthcare market. It provides extensive statistical and analytical outline on the Indian healthcare market and gives past, present and future data on its structure, composition and working. The research study intensively discusses the new avenues and challenges that are anticipated to stem both within and from the healthcare market in future.
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