April 01st, 2024

India Kidney Function Test Market: Unravelling Competition, Size, and Industry Growth Prospects up to 2029 - TechSci Research

India Kidney Function Test Market: Unravelling Competition, Size, and Industry Growth Prospects up to 2029 - TechSci Research

The kidney function test market in India is poised for significant growth, as indicated by the latest report from TechSci Research titled "India Kidney Function Test Market - By Region, Competition Forecast and Opportunities, 2029". This anticipated growth is attributed to various factors, including the rising demand fueled by increased healthcare expenditure and technological advancements in the healthcare sector. This report provides valuable insights into the market dynamics, trends, and opportunities shaping the landscape of kidney function testing in India.

Rising Healthcare Expenditure Driving Demand

One of the primary drivers of the kidney function test market in India is the escalating healthcare expenditure in the country. Over the years, India has witnessed a steady increase in healthcare spending, driven by factors such as population growth, rising income levels, and an expanding disease burden. This upward trend in healthcare expenditure has resulted in greater accessibility to healthcare services, including kidney function tests. Patients, particularly those with chronic kidney disease, benefit from regular monitoring of their kidney function, thus driving the demand for these tests.

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Impact of Digital Health Technologies

The advent of digital health technologies has revolutionized healthcare delivery in India, particularly in the realm of kidney function testing. Mobile health applications and telemedicine platforms have significantly enhanced access to specialist care and diagnostic services. These technologies not only improve the accuracy and efficiency of kidney function tests but also make them more accessible to patients from diverse socioeconomic backgrounds. Moreover, they contribute to cost reduction, thereby mitigating the financial barriers to accessing healthcare services.

According to the report, the integration of digital health technologies has ushered in an era of convenience and affordability in kidney function testing. Patients can now undergo tests remotely, without the need for frequent visits to healthcare facilities. This convenience factor has become especially pertinent in the wake of the COVID-19 pandemic, which has spurred a greater demand for home healthcare services.

Growing Demand for Home Healthcare

The COVID-19 pandemic has catalyzed a shift towards home healthcare services, leading to an increased demand for portable and user-friendly kidney function tests that can be administered at home. This trend is expected to persist even in the post-pandemic era, driving further growth in the market for home-based kidney function tests. Manufacturers are thus focusing on developing innovative solutions that cater to the needs of patients requiring home-based care, thereby expanding their market presence.

Challenges and Opportunities

Despite significant advancements, challenges persist in the Indian healthcare landscape, particularly regarding access to healthcare facilities. Rural and remote areas often face a shortage of healthcare infrastructure, limiting access to essential diagnostic services such as kidney function tests. Addressing this disparity presents an opportunity for stakeholders to invest in expanding healthcare infrastructure and improving accessibility to diagnostic services in underserved regions.

Segmentation and Market Dynamics

The India kidney function test market can be segmented based on various parameters, including test type, imaging, component, end-user, and region. MRI, CT-scan, ultrasound, renal scintigraphy, and others are among the key segments based on application. Renal scintigraphy, in particular, has emerged as a dominant segment owing to its efficacy in diagnosing and monitoring kidney diseases with minimal radiation exposure.

In terms of distribution channels, hospitals and clinics, diagnostics laboratories, academic and research institutes, and others play pivotal roles in facilitating access to kidney function tests. The diagnostic laboratories segment is expected to witness sustained growth during the forecast period, given its specialized capabilities in conducting a wide range of medical tests, including kidney function tests.

Competitive Analysis

The India kidney function test market is characterized by intense competition among key players striving to innovate and expand their market presence. Companies are focusing on developing advanced diagnostic solutions that offer greater accuracy, efficiency, and convenience to patients. Strategic collaborations, mergers, and acquisitions are prevalent strategies adopted by market players to strengthen their foothold in the competitive landscape.

Benefits of the Research Report:

• Provides comprehensive insights into the India kidney function test market, including growth prospects, trends, and challenges.

• Offers strategic recommendations for stakeholders to capitalize on emerging opportunities and address market challenges.

• Facilitates informed decision-making by providing in-depth analysis of market dynamics and competitive landscape.

• Enables market players to devise effective strategies for market expansion, product development, and customer engagement.

The India kidney function test market presents lucrative opportunities for growth, driven by factors such as rising healthcare expenditure, technological advancements, and shifting healthcare preferences. However, addressing challenges related to healthcare infrastructure and accessibility remains crucial for realizing the full potential of the market. With strategic interventions and innovative solutions, stakeholders can foster a conducive environment for the growth and development of the kidney function test market in India.

Major companies operating in India kidney function test market are:

• Lal Path Labs Pvt. Ltd.

• SRL Diagnostics Pvt. Ltd.

• Metropolis Healthcare Ltd.

• Abbott India Ltd.

• Roche Diagnostics India Pvt. Ltd.

• Siemens Healthineers India Ltd.

• Bio-Rad Laboratories (India) Pvt. Ltd

• Merck India Ltd.

• Beckman Coulter India Pvt. Ltd.

• Trivitron Healthcare Pvt. Ltd.

In October 2021, NephroPlus, a leading dialysis services provider in India, announced the launch of its "Nephrocare Connect" app, which provides patients with real-time access to their kidney function test reports and other health information.

In 2018, Thyrocare Technologies acquired a 51% stake in Chennai-based Nuclear Healthcare Limited (NHL). NHL is a radiology and nuclear medicine services provider that offers a range of diagnostic services, including renal scintigraphy.

In 2017, Metropolis Healthcare acquired Chennai-based Precision Diagnostics. Precision Diagnostics offers a range of diagnostic services, including kidney function testing, and has a strong presence in South India.

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“India kidney function test market is projected to hold a good position in the market during the forecast period due to the rising demand for nutraceuticals with medical benefits, along with growing preference for personalized nutrition across the region. Furthermore, investment in research and development, new testing methods, and collaborations is expected to drive further growth and innovation in the India kidney function test market. Besides, increasing concern about healthy lifestyles and increasing expenditure on health and wellness is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Kidney Function Test Market, By Test Type (Urine Tests and Blood Tests (By Urine Tests (Urine Protein Tests, Creatinine Clearance Tests, Microalbumin Tests),By Blood Tests (Serum Creatinine Tests, Glomerular Filtration Rate Tests, and Blood Urea Nitrogen Tests)), By Imaging (Renal Scintigraphy, MRI, CT-Scan, and Ultrasound),By Component (Dipsticks, Reagents, Kits & Assays, and Others), By End User (Hospitals & Clinics, Diagnostic Laboratories, and Others), By Region, Competition, Forecast and Opportunities, 2029”, has evaluated the future growth potential of India kidney function test market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India kidney function test market.

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