In about 70 percent of all clinical decisions, in-vitro diagnostics (IVD) is a very important healthcare resource not only for disease detection but also for monitoring a patient's condition, deciding the line of treatment, seeing that the treatment is complete, or to decide whether there is a cure, or for prognosis.
In India, the laboratory and diagnostic business is at a crucial juncture, as it is changing from a profit-driven area to a customer-centric stream, and is in the course of becoming the soul of the healthcare sector, given the rising need of early detection and monitoring demanded today by several life-threatening diseases.
In recent times, there has been plenty of advances in the IVD space, whether at the genomics, the molecular diagnostics, the technology, instrumentation, materials used, or the software solution levels. The Covid-19 pandemic accelerated this advancement. The global in-vitro diagnostics (IVD) market size is projected to reach $96.0 billion by 2025 from $84.5 billion in 2020, according to a ResearchAnd Markets report. According to the same research firm, the India IVD (Instruments & Reagents) market is likely to reach $1.8 billion mark by 2025.
The emerging technologies
Thanks to the demands of the Covid era, polymerase chain reaction (PCR) testing has become mainstream with its ability to quickly churn out results using the same sample for multiple detections, informs Chandrashekhar Nair, Co-Founder and CTO, Molbio Diagnostics.
This story is from the January 2023 edition of Healthcare Radius.
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This story is from the January 2023 edition of Healthcare Radius.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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