Point-of-care testing (POCT) refers to diagnostic testing that takes place near the patient, typically in settings like a doctor’s office/clinic or hospital, with results available within minutes. The goal is to deliver faster results, which facilitates quicker decision-making regarding treatment.
The Indian Point-of-Care (POC) testing market is experiencing significant growth, expanding at an annual rate of 18-20%. It is projected to reach a market size of about $1 billion by 2027. This rapid growth is driven by the increasing demand for faster diagnostic results, a wider array of available tests, and improvements in the accuracy of these tests due to advancements in technology. Furthermore, India’s vast population is a key factor driving the growth of POC products, as they help in providing timely diagnosis, especially in underserved or remote areas.
Key Players in the Indian POC Market
The Indian POC testing market is dominated by a mix of leading international diagnostic companies and some local players. Major global companies such as Roche, Abbott, and Siemens are well-established in India. Other significant players, including Hemocue, Arkray, Boditech, Medica, SD and PTC, have direct operations in the country, while brands like Acon, Finecare, and EKF Diagnostics are available through local distributors.
While there are a few local manufacturers of POC products such as Strumed and Sensacore, India is still largely dependent on imports of POC products. In fact, many innovative POC products developed in regions like the US, Europe, Korea and China are actively seeking an entry into the Indian market.
For example:
- Pixcel (Israel) and QBC (USA) offer dry-chemistry-based cell counters, ideal for use in doctors’ offices. These products could meet an unmet need, as there are currently no POC products available in India for Complete Blood Count (CBC) testing, a common test in primary care.
- Diabetomics (USA) has developed innovative tests, such as C-peptide, GAD antibody, and saliva-based tests for long-term diabetes management. Given that India has the highest number of diabetes care centers in the world (approximately 10,000), these products could have a significant impact.
- Winnoz Technology, Taiwan offers Point of Care Molecular Testing solutions. They operate in about 45 countries and is a new generation player.
Strategy for Market Entry
For companies seeking to enter the Indian POC market, a structured approach is essential. Key steps include:
- Conducting Thorough Market Research:
- Understanding customer pain points, needs, and market opportunities is crucial for tailoring products and marketing strategies effectively.
- Strategic Decision on Market Entry:
- Companies must decide whether to set up their own operations in India or partner with local distributors. Each route has its advantages, and careful consideration is needed.
- Providing Scientific Evidence:
- Offering clinical data, such as comparative studies with traditional lab methods and clinical trials, can support marketing efforts and build trust in the product’s reliability and accuracy.
- Developing Key Opinion Leaders (KOLs):
- Engaging with respected professionals in the medical field can help validate the product’s effectiveness and influence adoption among healthcare providers.
India’s Potential for POC Products
India’s healthcare landscape presents a vast opportunity for POC products. The country has over 700,000 doctors, around 80,000 small and medium-sized hospitals and nursing homes, and more than 100,000 clinics. Additionally, the increase in health awareness and rising disposable incomes are factors that will drive greater demand for diagnostic tests, including POC tests.
Challenges to Overcome
However, companies looking to succeed in the Indian market must navigate several unique challenges, including:
- Price Sensitivity:
- India has relatively low health insurance penetration, and most healthcare costs are borne out-of-pocket by patients. This results in price sensitivity, meaning companies must be able to control operating costs and leverage economies of scale to offer competitive pricing.
- Distribution and Logistics:
- India’s vast geography poses challenges for the efficient distribution of POC products, particularly in rural areas. Strategic planning for logistics is crucial.
- Communication of Value Proposition:
- Effectively communicating the value proposition of POC products to healthcare providers and patients is vital to ensuring market acceptance.
- Government Tendering:
- Securing government tenders for public healthcare institutions can be competitive and may require a thorough understanding of government procurement processes.
Conclusion
The Indian market presents a significant growth opportunity for point-of-care testing products. While challenges such as price sensitivity, distribution issues, and compliance to regulatory requirements exist, the potential is immense. With a structured market entry strategy, strong local partnerships, and a focus on cost-efficiency and quality, companies can capitalize on this growing market and contribute to improving healthcare access in India.
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About the authorBottom of Form
C. Vijaynarayan is a recognized and experienced leader in the Point-of-Care (POC) segment in India. With a rich career background, he has successfully led the India operations of several renowned international diagnostic companies, including Arkray (Japan), Roche Point of Care Division, and Diasys (Germany). His expertise in the POC sector has made him a sought-after figure in the industry.
In addition to his extensive experience in leading operations for these prominent global companies, Vijaynarayan serves as an Expert with Sanstrat, a leading strategic advisory firm specializing in providing business solutions for international diagnostic companies. His deep understanding of the diagnostic landscape in India positions him as a key advisor to global companies looking to enter or expand their presence in the Indian market.