Indian Diagnostics Market
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Key attributes & trends of Indian Diagnostics Market
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Indian Diagnostics Market
- 1. Overview on Indian Diagnostics Markets & Evaluation of Options to play
- 2. Importance of Diagnostics… Diagnostics is an important component of improved value chain in Healthcare sector by Enabling accurate detection of health risks and disease at earlier stages Improving treatment and disease management, while diminishing subsequent health problems and their associated costs With improving economic indicators for India, healthcare spend has increased “Right patient with the right treatment at the right time.”
- 3. IVD Market: Global Scenario The worldwide market for diagnostics is projected to be $28.6 billion in 2005, of which the US market share is projected to exceed $11.2 billion Major component of the IVD revenues are driven thru Hospital testing accounting 60% whereas 40% is contributed by lab testing 50% of IVD companies are small businesses i.e. < 50 employees Increasing trend of co-marketing, in-licensing & mergers Newer FDA guidelines for regulating diagnostics and other devices Involvement of ‘Home brews’ IVD comprise less than 5% of hospital cost IVD findings influence 60-70% of health care decision-making
- 4. India: Economy & Healthcare Economy Stability of current Government + 8% GDP growth target Continuity of economic & structural reforms Currency will hold up reasonably Healthcare Healthcare industry will remain buoyant Price sensitivities will remain Generics will increase More MNCs will come direct Lab automation will show its face
- 5. IVD in India IVD revenues in India is primarily driven by labs contributing 65% whereas hospitals contribute 35% Market is divided in Public & Private customers Industry is made up of MNCs Indian corporates Unogranized players Major companies are entering IVD businesses with emerging opportunities with CROs, Outsourced Clinical Trials Reagent rental trend has started 4 years back & is receiving fast acceptance Product registration has started becoming difficult Customs duty ∼ 39% for reagents, 26% for Instruments & 5% on life saving products
- 6. IVD Market Scenario IVD Category Growth 05-06 in % IVD market in India is estimated 30 30 at Rs. 10 Bn with ∼ 15% growth 25 Major component is Clinical 25 chemistry followed by 20 Hematology, Immuno & Urinalysis 15 Critical Care & Coagulation are 15 12 12 relatively lesser with usage 10 confined to Hospitals 10 The market is estimated to grow at a healthy ∼ 15% with many new 5 drivers of growth 0 Hematology Urinalysis Coagulation Chemistry Immunochemistry Critical Care
- 7. Future of IVD Market IVD Market 2010 Rs. 12240 Mn Lease/ Rental Local Manufacturing Increasing Awareness Health insurance Consolidation privatization IVD Market India Preferred 2006 Global R&D hub Rs. 7000 Mn Expansion of Clinical Outsourcing
- 8. Customers at a glance Private Labs Characteristic Single ownership, Small to Large set up Basic Urine & Blood testing performing Chemistry, Hematology, Immuno & Electrolyte testing. Purchase Decision Fast decision, Hard negotiation, Demanding, Servicing Business opportunity Chemistry Reagents Nephlometry ∼ 25,000 Microbiology RIA Immunoturbidimetry
- 9. Customers at a glance Private Hospitals Characteristic 50 – 250 bedded Very Professional Better spending Highly negotiating. Purchase Decision By Purchase Committee comprising Technical & Purchase people Business opportunity Cardiac markers Drug screening Microbiology RIA ∼ 12,000 Clinical Chemistry Immunoturbidimetry
- 10. Customers at a glance Semi-Govt Hospitals Characteristic Medium – Big Hospital (100 – 500 bedded) Tender based purchase with emphasis on lowest price e.g. Railway, Army Purchase Decision By Purchase Committee comprising Business opportunity Microbiology RIA Clinical Chemistry ∼ 1,000 Immunoturbidimetry Nephlometry
- 11. Customers at a glance Govt Hospitals Characteristic Large sized (100 – 500 bedded) Highly bureaucratic. Governed by Govt. State/Central Low funds & poor infrastructure Purchase Decision By Tender Business opportunity Microbiology RIA Clinical Chemistry ∼ 2,000 Nephlometry
- 12. Thank You!