The report titled publication “India Blood Gas and Cardiac Biomarker POC Analyzer Market Outlook to FY’2025-By Product (Device and Reagent), By Device Type (Medium to High Workload and Single Test Analyzer Device), By Region (Tier 1, Tier 2 and Tier 3) and By End User (Hospital, Clinics and Small Health Setup and Diagnostic Labs)” provides a comprehensive analysis of the blood gas and cardiac biomarker POC analyzer market in India. The report also covers the overview and genesis of the industries, overall market size in terms of revenue, segmentation on the basis of product category, device type, sales by region and end user, trends and developments, issues and challenges, government regulations, value chain analysis, SWOT analysis, competitive scenario and company profiles of major players in both, blood gas and cardiac POC analyser industry. The report concludes with future market projection and analyst recommendations highlighting the major opportunities and cautions for new and existing players in the market.
India Blood Gas and Cardiac Biomarker POC Analyzer Market Overview and Size
India blood gas and cardiac biomarker POC analyzer market grew at a double digit growth rate over the review period FY’2014-FY’2019. The market growth was supported by increase in public healthcare expenditure, growth in healthcare infrastructure in the country and rise in elderly population. The markets were observed to be in growth stage and will continue to remain so in the coming years. The demand for low cost devices and cheap cost per test alongwith change in decision making authority from doctors to hospital administration has significantly affected the growth in the market and has changed the procurement landscape in the industry.
India Blood Gas and Cardiac Biomarker POC Analyzer Market Segmentation
By Product: Reagent dominated the market as they have higher replacement rate while devices are kept on reagent rental leading to lower sales of devices.
By Type of Device: Higher workload devices dominated the blood gas POC market as blood gas analysis is a acute care portfolio which observes higher number of tests being conduced while cardiac biomarker POC industry is observed to be dominated by semi automated small portable systems as low cost devices are preferred in the market owing to limited number of tests being conducted.
By Region: The blood gas POC industry witnessed Tier-2 region generating the maximum revenue followed by Tier-1 and Tier-3 as end users in Tier-2 cannot comply for placing device on reagent rental due to limited workload. Therefore, they end up buying the device which results in higher revenue realization for the industry from this region. On the other hand, the cardiac biomarker POC industry witnessed Tier-1 generating the highest revenue due to the presence of better healthcare infrastructure and maximum procedures happening in this region, leading to higher workload demand from Tier-1 followed by Tier-2 and Tier-3.
By End User: Hospitals were found to be the biggest end users which generated the maximum revenue for blood gas and cardiac biomarker POC industry during the review period as both the markets are based on acute care for which maximum patients undergo diagnosis and prognosis in hospitals. Clinics and small health setups along with diagnostic labs occupied the remaining share of the revenue pie due to limited workload for these end users.
By Type of Biomarker: Troponin dominated the cardiac biomarker POC industry as it is a true diagnostic marker for determining mycordial damage. CKMB occupied the second biggest revenue market share as it is tested frequently for determing the prognosis of cardiac disease followed by NTproBNP which is also tested regularly to comprehend heart valve disease which has high concentration of patients in the subcontinent. Markers such as D-dimer, CRP and Procalcitronin occupied remaining share of the industry as these are used for understanding inflammation in coronary arteries and have low test volume.
India Blood gas POC analyzer industry is highly concentrated with major revenue of the industry being generated by international players such as Radiometer, Siemens Healthcare, Instrumentation Laboratory, Abbott Healthcare, Roche Diagnostics and OPTI Medical System. Other players in the industry include companies such as Guangzhou Wondfo, Sensa Core, Eden and Aspen which occupy low share in the market. The blood gas POC industry has witnessed higher device sales coming from handheld analyzers by Abbott and Siemens while higher workload systems by Radiometer and Instrumentation laboratory have more number of installations on reagent rental basis in the country. The cardiac biomarker POC analyzer industry is concentrated in the hands of players like Biomerieux, Quidel, Abbott, Wondfo and Radiometer. Other players in the industry such as Roche, Diasys, Boditech, Siemens and Agappe market low cost semi automated devices and occupy the remaining share in the market. In both the markets, players compete on basis of price, technology, branding, placement of devices and product portfolio.
India Blood Gas and Cardiac Biomarker POC Analyzer Market Future Outlook
The blood gas and cardiac biomarker POC analyzer industry is expected to witness a double digit growth rate in the forecast period FY’2019-FY’2025. Rapid growth in healthcare expenditure, increase in number of hospitals, shift towards automated systems for managing higher workload, adoption of high sensitivity prognostic and diagnostic markers and increasing penetration of healthcare facilities in Tier-2 and Tier-3 region are expected to bring positive growth in the market in the coming years.