Home Testing Kits Market in India 2020

     

 This research report presents a comprehensive overview on the India Home Testing Kits market, further presents an analysis on its products and services in the market and the leading companies operating in the Home Testing Kits industry. You will also find many facts & figures and statistics related to the India Home Testing Kits market.

Along with a detailed overview, this report also has SWOT analysis and PEST analysis which provide a deeper insightful look into the Indian Home Testing Kits market. There’s also regional analysis which furthermore increases the credibility of the data provided in this report. The data has been presented in such a way that is easy to understand. You will find pie charts, graphs, and other visual representations that will provide better sense of the information.

The research report widely covers the business profiles of all the key players that operate in the India Home Testing Kits market. These companies have been thoroughly profiled and the report contains information on their growth projections, development prospects, their business strategies, sales data, and their current business revenue, to the expected revenue. Based on the report, you can understand what the leading players are planning to do in the next 5 years, and this data will help you to make important business decisions. Morepen Laboratories Limited, Nectar Lifesciences Limited, Mankind Pharma Limited, Advacare Pharma LLP, Swiss Precision Diagnostics GmbH and more - all the top companies operating in the India Home Testing Kits market and their business strategies have been profiled in this research report.

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 Bn 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 Bn 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 of 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 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.
 
Companies covered
• Morepen Laboratories Limited
• Nectar Lifesciences Limited
• Mankind Pharma Limited
• Advacare Pharma LLP
• Swiss Precision Diagnostics GmbH
• Bright Healthcare Limited
• Nureca Private Limited
• OMRON Healthcare India Private Limited
• Roche Diabetes Care India Private Limited

With this research report, you can get an insightful view of the India Home Testing Kits market. So, if you are looking to make smart investments, you will be at an advantage with all the relevant data at your fingertips. This report also contains market analysis, growth analysis, and competitive landscape report, so if you are looking to start your own business in the India Home Testing Kits market, you can use this report to assess business opportunities and make business strategies. 

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