Whole Healthcare Magazine

Less than 40 companies - account for 94%
of the world market for IVDs. The remaining
6% is held by 100s of companies some of
which specialize in specific test segments and
others that serve their local markets.
According to an August 2019 estimate from
EY Parthenon, there were $3 billion dollars
invested in IVD-related businesses and more
than 170 investment rounds between May
2018 and April 2019.There were also over 9
IPOs worldwide, raising $500M for
diagnostic-related ventures.
This financial activity in the market is proof
of the increase in interest in the IVD industry.
Indian IVD Industry:
The Indian In Vitro Medical Diagnostics
sector, included under the Make-in-India
initiative of the Government of India, has huge
market potential and is witnessing doubledigit
growth.
The IVD market in India is estimated to be
$1 billion currently and experiencing an
annual growth of 15% and has the potential to
be a $1.8 billion industry by 2025 as per
industry estimates. India is the fourth largest
market for IVD devices in Asia after China,
Japan, and South Korea.
India being an emerging market is also
evolving as a potential manufacturing hub for
key global medical IVD players and some
IVD companies such as Siemens, Arkray,
Perkin Elmer, Sysmex Corporation, Horiba,
Randox and so on, have set up their
manufacturing facilities in India.
India is to date dependent on imports for its
IVD needs with almost 80% of IVDs being
imported. The cost of manufacturing in the
developed world is many times higher than the
cost of manufacturing in India hence there has
to be a strong push for MAKE IN INDIA
IVD’s to lower the healthcare costs in India.
Industry Players:
It is estimated there are 70 IVD reagent
manufacturer’s in the country.
Roche captures the maximum share of the
India IVD market.
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Siemens and Transasia held the 2nd and
3rd positions in the Indian IVD market.
TransAsia the largest domestic player has a
strong presence in small and medium-sized
independent diagnostics centers across
India.
Global IVD companies are expanding their
operational footprint in India which
presents a growing market for their
products.
IVDs play a key role in improving the health
and quality of life. Recognising the fact that
diagnostics are a critical part of healthcare
both the private and public sector is investing
heavily into diagnostics. This makes IVDs the
next big story after pharma.