India Point Of Care Diagnostics Market Outlook

india's point-of-care diagnostics market is on a rapid rise due to the increasing number of on-the-spot medical tests. as of 2018, this market is estimated to be valued at usd 664.2 million and is expected to further witness a cagr of 8.85% during the forecast period from 2018 to 2032. the growth in this market will be driven by several factors. firstly, the government’s increasing focus on improving healthcare infrastructure and bringing up world-class health facilities in rural and remote areas will create a fresh demand for point-of-care diagnostics. secondly, india’s growing population and the rising aging demographic are further expected to boost the demand for rapid and accurate point of care (poc) diagnostic tests. additionally, the rising adoption of poc diagnostic tests by healthcare providers due to its cost-effectiveness and reliability are also likely to drive the demand for this market. other factors that are further expected to result in an increase in demand for poc diagnostic tests include the increasing preference for home healthcare, rising incidence of lifestyle diseases, rapid cost-cutting initiatives, and the increasing availability of improved poc tests. for example, glucodr poc glucose testing device, which can measure the glucose level of diabetic patients, is becoming increasingly popular among healthcare professionals in india. to keep up with the increasing demand from the growing healthcare industry, numerous domestic as well as international players are strengthening their foothold in the indian market by introducing new technologies. this is likely to further provide impetus to the market. apart from the advantages of quick results and accuracy, the increasing emphasis on improving the healthcare infrastructure of india is likely to result in significant investments in poc tests in the near future. this, in turn, is expected to create new opportunities for the market. furthermore, the rising awareness among healthcare professionals regarding the benefits of poc tests and the government’s increasing initiative towards improving healthcare infrastructure will offer further impetus to the point-of-care diagnostics market in india over the next few years.