in-vitro DIAGNOSTICS INDUSTRY TODAY IN INDIA
in-vitro Diagnostics is a part of the healthcare industry pegged at ~$500Mn and growing at a CAGR of 12%. Increasing awareness and affordability is driving the demand for quality healthcare. The disease burden of India has come to resemble that of the West with more and more Indians suffering from life-style related diseases. It is seven times more expensive to diagnose, treat or monitor a life-style related disease as compared to an infectious disease.
Hematology, Clinical Chemistry and Immunology segments constitute more than 80% of the total diagnostics market.
There are a total of about 100 companies in India engaged in the business of diagnostics. Out of these, less than 10 are manufacturers, 15 are MNCs with direct marketing and sales offices in India. Most of these MNCs do not have manufacturing set-ups in India and have to import reagents from their global manufacturing locations , which are located in expensive regions like the US and Western Europe.
The remaining 75 odd are distributors and traders that import reagents and instruments from overseas and sell in India with a mark-up. The margins of such companies have been significantly impacted by the depreciation of the Rupee by over 39% during the last five years. This along with the complexity of obtaining import licenses and high import duty on reagents has highlighted an unmet need of a dedicated and experienced diagnostics group that could develop, manufacture or refill reagents in customized formats while ensuring the highest level of quality and stable pricing.
WE ARE CONFIDENT OF SERVING YOU WELL
- In depth knowledge of Hematology, Clinical Chemistry and Immunology R&D to develop customized solutions and improve existing ones.
- Promoters have been a part of the consultative committee formed between the Govt. of India and the industry to lay down guidelines on Good Manufacturing Practices and Quality systems for Diagnostics in the country.
- Understanding of the Indian and Global diagnostics needs.
- Close association with network of diagnostics distributors in India and world-wide.
- Robust sales and marketing acumen.
- Contact with IVD companies across the globe.