Indian diagnostic market to grow at a faster pace
Consequently, the diagnostics market in India is anticipated to grow at a CAGR of more than 22 percent.
With the increasing prevalence of diseases, demand for diagnostic devices and services has significantly risen as people are becoming more conscious about health issues and prefer prevention of diseases rather than cure.
Our in-depth analysis of the diagnostic market has found that one of the main factors responsible for such a high growth rate of the diagnostics industry is the Point of Care (POC) tests because of increasing consumer awareness about health concerns, said the research firm.
Besides, demand for highly technological innovative tests will increase as they can provide more precise results.
RNCOS team of experts has also segmented the diagnostics market on the basis of techniques. The main techniques along with various other discussed in the report are biochemical testing, hematology, immunology and critical care.
Among the segments, biochemical tests are anticipated to dominate the diagnostics market and will account for around 36 percent of the total market by the end of 2010. The report has also identified the molecular diagnostics as the emerging and fastest growing segment of the diagnostics industry.
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