Published on : May 21, 2021
Albany, New York, May 21, 2021: ResearchMoz.us has added a new report titled “Home Testing Kits Market in India 2020” to its repository. The home testing kits market is projected to witness stupendous growth avenues in India during the forthcoming years. Some of the key factors supporting this projection are growing population and increased awareness about home testing kits in India. Most popular products available in Indian home testing kits market are at-home pregnancy test kits, home testing kits for fertility prediction, at-home blood pressure monitoring devices, at-home HIV test kits, thermometer, and glucometer. Thus, growing demand for all these products from Indian population is driving the growth of home testing kits market in India.
The recently published report offers comprehensive assessment of key growth factors, latest technological developments, opportunities, and changing consumer preferences of the home testing kits market in India. It is designed to depict a clear picture of the recent market situation together with key data on share and size of different applications and product segments in Indian market. The research report offers a reliable evaluation of the present intensity of competition in key regions of the home testing kits market in India. Thus, this research report works as a helpful guide for all entities in this market.
According to the latest report, India holds around 7% of the total revenue generated by the global home testing kits market as of 2019. The market is projected to expand at a CAGR of ~9.88% during the period of 2020–2025 and reach to the value of INR 15.57 Bn by 2025. The total valuation of the home testing kits market in India was approximately INR 9.05 Bn in 2019.
The home testing kits market in India is witnessing increase in demand owing to rising case of various chronic diseases in the country. Some of the important reasons stimulating the market growth are increased number of patients suffering from diabetes, hypertension, and cardiovascular diseases. This aside, the increased disposable income of a wide range of population in this region is working as a driver for growth of the home testing kits market in India.
In recent period, the home testing kits market in India is witnessing rising demand for products owing to increasing awareness about physical wellbeing among people. This aside, the market is getting benefit of easy availability of home testing devices in urban and semi-urban regions of the country. However, some factors are obstructing the home testing kits market growth. Lack of precision in test results, high prices of test kits, and difficulty in getting these devices in rural areas are some of the key hindering factors for the home testing kits market in India.
The home testing kits market in India is moderately fragmented in nature. Presence of numerous players makes the competitive landscape of the market for home testing kits highly intense. The market holds the dominance of established vendors such as Mankind Pharma (Prega News) and Morepen Laboratories and. At the same time, the home testing kits market in India is witnessing the entry of new players such as Bright Healthcare Limited (HealthSense), OMRON Healthcare India, Roche Diabetes Care India (Accu-Chek), CPC Diagnostics Private Limited, and Bione Ventures Private Limited.
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To withstand in this high competition scenario, many vendors from the home testing kits market in India are growing their efforts on research and development activities. These moves are helping them in offering advanced products to the end users, and thereby establishing their roots in the home testing kits market.