Indian Home Testing Kits Market 2017-2025 - Massive Increase in Demand for Infrared Thermometers and Glucometers on Account of COVID-19
DUBLIN, May 28, 2020 /PRNewswire/ -- The "Home Testing Kits Market in India 2020" report has been added to ResearchAndMarkets.com's offering.
With the growing population and changing lifestyle of Indians, the market for home used testing kits in the country has gained momentum over the past few years. Home testing kits that are most popularly used in India include at-home pregnancy test kits, home testing kits for fertility prediction, at-home HIV test kits, at-home blood pressure monitoring devices, glucometer and thermometer.
Europe, North America and the Asia-pacific region together account for more than three-fourth of the global home testing kits market. China, India and Japan contribute significantly to the market revenue in the Asia-pacific region.
Market Insights
As of 2019, India accounted for about 7% of the overall revenue generated by the global home testing kits market. The home testing kits market in India was valued at INR 9.05 billion in 2019. Further, the market is anticipated to expand at a compound annual growth rate (CAGR) of ~9.88% during the 2020-2025 period, to reach a value of INR 15.57 billion by 2025.
Rising prevalence of chronic ailments like hypertension, diabetes and cardiovascular diseases is one of the major factors propelling the growth of the market in India. Increase in disposable income, improved awareness regarding physical wellbeing among people, and easy accessibility of home testing devices in urban and semi-urban areas of the country are some of the other important factors contributing to the growth of the market. However, the lack of accuracy in test results, awareness, affordability and accessibility of these devices in rural areas is impeding the development of the industry.
COVID-19 Impact Analysis
The worldwide outbreak of the COVID-19 pandemic, followed by a long-term nationwide and global lockdown to curb contagion proved difficult for the manufacturing and logistics sectors. As a result, the home testing kits market is anticipated to witness a breach in the demand and supply of testing devices. The market experienced an unexpected increase in the demand for home testing kits like infrared thermometer and glucometer on account of the lockdown following the outbreak.
The sudden rise in demand for these devices significantly contributed to the market revenue in the first quarter of 2020. However, due to the unanticipated disruption in international trading and halt in the production of devices, the supply is expected to drop in the post-lockdown period, leading to a fall in the market revenue. This scenario is expected to persist until the market stabilizes itself in a healthy business cycle, overcoming the effects of the pandemic and lockdown.
Competition Analysis
The home testing kits market in India is highly competitive, owing to the presence of numerous players in the market. The market is not only dominated by its existing established players like Morepen Laboratories and Mankind Pharma (Prega News) but also by a number of prominent start-ups including OMRON Healthcare India, Bright Healthcare Limited (HealthSense) and Roche Diabetes Care India (Accu-Chek). New market entrants like Bione Ventures Private Limited and CPC Diagnostics Private Limited intend to establish their roots in the market with their latest venture into the COVID-19 home screening kits.
Key Topics Covered
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Global home testing kits market
4.1. Global home testing kits - market overview
4.2. Historical and forecast market size based on value (2017-2025)
4.3. Region-wise market segmentation (2019)
Chapter 5: India home testing kits market
5.1. India home testing kits market - market overview
5.2. Historical and forecast market size based on value
Chapter 6: Impact of COVID-19 on the home testing kits market
6.1. Demand-supply analysis of the home testing kits market
6.2. COVID-19 home testing kits in India
Chapter 7: Market influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Competitive landscape
8.1. Major players of the market
- Advacare Pharma LLP
- Bright Healthcare Limited
- Mankind Pharma Limited
- Morepen Laboratories Limited
- Nectar Lifesciences Limited
- Nureca Private Limited
- OMRON Healthcare India Private Limited
- Roche Diabetes Care India Private Limited
- Swiss Precision Diagnostics GmbH
For more information about this report visit https://www.researchandmarkets.com/r/mwniak
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