India Life Science Tools Market size was valued at USD 14.44 billion in FY2023 which is expected to reach USD 33.76 billion in FY2031 with a CAGR of 11.22% for the forecast period between FY2024 and FY2031. The life sciences tools market in India is experiencing significant growth and innovation driven by various factors. With a rapidly expanding healthcare sector and a growing focus on research and development, the demand for advanced tools and technologies is increasing rapidly. The life sciences sector is experiencing a significant boost due to various government initiatives that aim to promote local manufacturing of instruments, consumables and devices in India. Some of the notable initiatives are “Make in India” campaign and the “National Medical Device Policy 2023.” Additionally, the establishment of biotechnology and medical device parks, along with increasing funding for research institutions, has attracted investments and fostered a culture of innovation within the sector. These government-led efforts are playing a vital role in driving the market forward. India is witnessing a surge in genomics research and its application in healthcare, including genetic testing, biomarker discovery, and precision medicine. This has led to the adoption of cutting-edge life sciences tools such as next-generation sequencing (NGS) platforms, genotyping arrays, and bioinformatics solutions. The pharmaceutical and biotechnology industry in India is also contributing to the growth of the life sciences tools market. With India being a global hub for pharmaceutical manufacturing, the demand for tools and technologies for drug discovery, development, and quality control is also increasing.
Download Free Sample Report@ https://www.marketsandata.com/industry-reports/india-life-science-tools-market/sample-request
Rising Prevalence of Genetic Disorders and Targeted Infectious Disease
The increasing incidence of genetic disorders and the need for precise tools to combat infectious disease have become pivotal drivers in propelling the growth of the life sciences tools market in India. As advancements in genomics and diagnostics continue to unfold, there is an increasing demand for sophisticated tools that facilitate genetic research, diagnosis, and targeted therapies. The incidence of tuberculosis in India is 210 per 100,000 population. India stands at 36th position globally in terms of incidence rates. More than 330,000 people died due to Tuberculosis in 2022. About 2.4 million are living with HIV in India. The three Southern States with the highest percentage of people living with HIV are Maharashtra, Andhra Pradesh, and Karnataka.
Technological Advancements in Genomics and Personalized Medicine
India life science tools market is witnessing significant advancements in genomics and personalized medicine, which are revolutionizing the field of life sciences tools. The rapid progress in genomics research and the availability of cost-effective sequencing technologies have enabled large-scale genomic studies and personalized medicine initiatives. The integration of genomics into healthcare is driving the demand for advanced life sciences tools that are facilitating genetic testing, biomarker discovery, and the development of targeted therapies tailored to individual patients. Additionally, the emergence of data analytics, artificial intelligence (AI), and machine learning (ML) in genomics and personalized medicine is opening new possibilities for data interpretation, predictive modeling, and precision medicine applications. These advancements in genomics and personalized medicine are poised to transform healthcare delivery and offer innovative solutions for diagnosing, treating, and managing various diseases in the Indian population.
In April 2023, a Gurgaon-based PredOmix, a cancer screening startup, developed a new blood test with 98% accuracy rate for identifying 32 distinct cancers in both men and women. The company’s patent technology OncoVeryx-F uses artificial intelligence (AI) and metabolomics, or the study of tiny molecules, to find metabolite signatures of several malignancies in a single test.
Biopharmaceutical Companies are Dominating the Market Among End-Users
Biopharmaceutical companies accounted for 27.86% of India life science tools market. India has emerged as a global hub for biopharmaceutical and pharmaceutical manufacturing, with a strong presence in generic drug and life sciences tools production. The biotechnology sector is also expanding rapidly, with increasing investments in research and development, biopharmaceutical manufacturing, and clinical trials. Indian companies are investing in state-of-the-art equipment such as high-performance liquid chromatography (HPLC) systems, mass spectrometers, sequencing platforms, and molecular biology tools to enhance their capabilities and meet the industry’s evolving requirements. Additionally, the sector’s focus on innovative drug development, biologics, and biosimilars is further driving the demand for specialized tools and technologies in areas such as genetic engineering, protein analysis, and cell culture systems. The growing revenues of biopharmaceutical companies in India presents significant opportunities for the life sciences tools market, fostering innovation, research collaborations, and technological advancements.
Genomix, a genetic testing company, made its debut in India in 2022, introducing its comprehensive range of genetic testing services. The company provides an array of tests that encompass various aspects of genetics, such as assessing cancer predisposition, carrier status for genetic conditions, and pharmacogenetics testing.
South India Dominates the India Life Science Tools Market
South India emerged as the most dominant region in India life science tools market, showcasing a significant influence in the sector’s growth and development. This regional prominence can be attributed to several factors, one of which is the presence of numerous medical device parks in states like Tamil Nadu, Telangana, Kerala and Karnataka. These parks serve as focal points for research, innovation and manufacturing of life sciences tools, creating a conducive environment for the industry to flourish. The strategic positioning these states, combined with proactive government initiatives and a robust ecosystem of research institutions, has propelled South India to the forefront of life sciences tools market in India.
Government Initiatives
The Indian government has introduced a range of initiatives. These include the renowned “Make in India” campaign, which serves to attract investments and encourage innovation. Furthermore, the establishment of biotechnology parks and research institutions across the country has been undertaken to create an environment conducive to the growth of the life science tools market. These initiatives collectively aim to promote the development of cutting-edge technologies, foster R&D, and facilitate a thriving ecosystem for the life sciences industry in India. In May 2023, the cabinet announced the National Medical Device Policy 2023. The aim of this policy is to support a well-organized expansion of the medical device industry in order to fulfill public health goals related to accessibility, affordability, quality, and innovation. The National Medical Device Policy 2023 will held this sector to achieve its maximum capabilities by implementing strategies such as establishing a supportive environment for manufacturing and emphasizing innovation. Additionally, the policy aims to establish a strong and efficient regulatory framework to ensure smooth operations. The government has established 9 biotech parks in Tamil Nadu, Telangana, Kerala, Karnataka, Uttar Pradesh, and Haryana. The Department of Biotechnology (DBT), which operates under the Ministry of Science and Technology, has set up biotechnology parks and incubators throughout the country with the aim of transforming research into viable products and services. These facilities offer essential infrastructure support to facilitate this process.
Impact of COVID-19
India life science tools market experienced a favorable impact due to the COVID-19 pandemic. The outbreak of the virus resulted in a higher prevalence of diseases, leading to a subsequent rise in research and development activities. A notable instance is Cipla’s announcement in May 2022, regarding the commercialization of its COVID-19 PCR kit in India. The real-time RT-PCR test kit had undergone validation by a center approved by the Indian Council of Medical Research (ICMR). Separation technologies, such as immunoprecipitation, chromatographic techniques, automated purification systems, and others, play a crucial role in the diagnosis and treatment of COVID-19. For instance, a study published in the Indian Journal of Medical Research in 2021 examined the use of a rapid immunoassay-based chromatographic test for COVID-19 diagnosis in a tertiary care teaching hospital in northern India. The study’s findings demonstrated that these immunoassay-based rapid chromatographic tests can contribute to the swift detection, isolation, and treatment of individuals affected by COVID-19.
India Life Science Tools Market: Report Scope
India Life Science Tools Market Assessment, Opportunities and Forecast, FY2017-FY2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the India life science tools market, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities and forecast between FY2024 and FY2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Contact
Mr. Mohit Gour
5741 Cleveland street,
Suite 120,
VA beach, VA,
USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com/