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The in vitro diagnostics market in India has gathered momentum in the last few years. Several companies, both domestic as well as foreign are entering the business with enthusiasm due to the tremendous growth the industry has been experiencing. The steadily growing number of medical centers in the country along with the ever increasing patient population will result in a growing target base of consumers which in turn will result the market to exhibit steady growth in future.
The report begins with the introduction section which offers a brief insight to the concept of in vitro diagnostic equipments, along with a broad segmentation of the in vitro diagnostic equipments. The value chain of IVD has also been provided in this section which gives the progressive stages of manufacturing of IVD equipments. It then moves to the market overview section which provides an insight of the Indian in vitro diagnostics market, with highlight on the market size and growth. The market size has been provided for the overall IVD market as well as for the different segments such as immunochemistry, biochemistry, hematology, microbiology, blood gas & electrolyte, molecular diagnostics, urinalysis and coagulation analysis. Market size forecasts have been done for both the IVD equipments market as well as for the IVD reagents market. The same has also been repeated for each of the segments in the market.
This is followed by an analysis of the drivers leading to growth in the industry. This include high patient population growth rate, increasing number of hospitals and diagnostic labs, innovation by pharmaceutical companies, unhealthy lifestyle leading to chronic diseases, demand for cost effective, faster and sensitive results, increased affluence and increased healthcare awareness. The main challenges to the market include faulty regulations leading to disorientation of IVD products and prevalence of laboratories without accreditation. The next section elaborates the laws and guidelines laid down by the regulatory bodies of the different countries that draw attention to the lack of regulations in India. This is followed by a section on the major trends in the IVD market. It includes automation, remote data acquisition, enzyme-linked fluorescence assay (ELFA), chemiluminescence immunoassay (CLIA), capillary electrophoreses (CE) based CLIA, electrochemiluminescence immunoassay (ECLIA), direct access testing and rapid accurate quantification at point of care.
The competition section provides an overview of the in vitro diagnostic equipment manufacturers in India. It includes an elaborate profile of the major players in the market along with their financial analysis. The Porters Five Forces Analysis for the industry has also been incorporated for a brief but effective understanding of the market scenario. At the end of the report a strategic recommendations create
Market Research Report : Vitro Diagnostics market in India 2012
1. Insert Cover Image using Slide Master View
Do not distort
In Vitro Diagnostics Market – India
September 2012
2. Executive Summary
• In vitro diagnostics market in India was pegged at INR ‘a’ bn in 20‐‐ and is expected to grow at a CAGR of x% till
20‐‐e
• Based on area of application IVD may be broadly segmented into Segment 1, Segment 2, Segment 3, Segment 4,
Market Segment 5, Segment 6, Segment 7 and Segment 8
• Segment 1 and Segment 2 have been the largest contributors to the overall market followed by Segment 3 and
segment 4
Drivers: Challenges:
High patient population growth rate Faulty regulations results in disorientation
Increasing number of hospitals and diagnostic labs of IVD products
Drivers & Innovation by pharmaceutical companies enhances
Laboratories without accreditation
demand for IVD
Challenges Unhealthy lifestyle leading to chronic diseases
Demand for cost effective, faster and sensitive results
Increased affluence
Increased healthcare awareness
• Automation • Capillary electrophoreses (CE) based CLIA
• Remote data acquisition • Electrochemiluminescence immunoassay (ECLIA)
Trends • Enzyme‐linked fluorescence assay (ELFA) • Direct access testing
• Chemiluminescence immunoassay (CLIA) • Rapid accurate quantification at point of care
Key Players
Company 1 Company 2 Company 3 Company 4 Company 5
Competition
Company 6 Company 7 Company 8 Company 9 Company 10
IN VITRO DIAGNOSTICS MARKET IN INDIA 2012.PPT 2
4. In vitro diagnostics has shown tremendous potential in India
and…
Market Overview – In Vitro Diagnostics Market Size and Growth
• Indian IVD market was valued at INR ‘a’ bn in 20‐‐
INR bn
and is expected to reach INR ‘f’ bn by 20‐‐, growing at
60 f
a CAGR of x% x% e
d
• Indian IVD market is the third largest IVD market in 40 c
b
a
Asia after Country 1 and Country 2
20
• Private players contribute u% of the market while the
rest v% is contributed by public players 0
• Various factors such as rising prevalence of diseases, 20‐‐ 20‐‐e 20‐‐e 20‐‐e 20‐‐e 20‐‐e
growing affordability among patients, and increasing
Indian IVD Market – Segments
penetration of health insurance have resulted in
growth in the demand for diagnostic services s%
q% Segment 1
• Indian market has traditionally been import p% r%
Segment 2
dependent but is now experiencing a transition l% Segment 3
towards domestic manufacturing o%
Segment 4
• In terms of segments, Segment 1 and Segment 2 Segment 5
have been the largest contributors followed by Segment 6
Segment 3 and Segment 4 n% Segment 7
The four segments together contribute more than y% of Segment 8
m%
the overall market
Figures are for 2011
4
5. …is expected to consistently grow with greater emphasis on
reagents
Market Overview – In Vitro Diagnostics Market Size and Growth – Instruments
• Reagents contribute a greater share to overall
INR bn
revenues in the IVD market than instruments f1
15 x1%
Instruments were pegged at INR a1 bn in 20‐‐ and this is e1
d1
expected to grow to INR f1 bn by 20‐‐ 10 c1
b1
Reagents were valued at INR a2 bn in 20‐‐ and is expected a1
to reach INR f2 bn by 20‐‐ 5
• Market for IVD instruments is still import dependent
0
with majority of the analyzers being sourced from 20‐‐ 20‐‐e 20‐‐e 20‐‐e 20‐‐e 20‐‐e
other countries
Most of the analyzers are procured from the Country 1, Market Size and Growth – Reagents
Country 2, and lately from Country 3 as well
INR bn
Companies from these countries have their sales and
service points in most cities in India and hence, procuring 40
f2
of analyzers is done within a few weeks x2% e2
30 d2
• Automation has become a standard norm in the c2
b2
industry and new demand in the market are mostly 20 a2
for such analyzers
10
• Demand for reagents continue to grow especially due
to the need to cater to a large installed base of IVD 0
20‐‐ 20‐‐e 20‐‐e 20‐‐e 20‐‐e 20‐‐e
instruments
Elisa Kits and Rapid tests also constitute a part of the overall IVD market
5
6. Drivers & Challenges
Drivers
High patient population growth rate
Increasing number of hospitals and
diagnostic labs
Innovation by pharmaceutical
companies Challenges
Unhealthy lifestyle leading to chronic Faulty regulations leading to
diseases disorientation of IVD products
Demand for cost effective, faster and
sensitive results Laboratories without accreditation
Increased affluence
Increased healthcare awareness
IN VITRO DIAGNOSTICS MARKET IN INDIA 2012.PPT 6
7. Trends – Summary
Automation
Remote data acquisition
Enzyme‐linked fluorescence assay (ELFA)
Chemiluminescence immunoassay (CLIA)
Trends `
Capillary electrophoreses (CE) based CLIA
Electrochemiluminescence immunoassay (ECLIA)
Direct access testing
Rapid accurate quantification at point of care
7
8. Public: Domestic Company – Company 1
(1/3)
Company Information Offices and Centres – India
Corporate Address
Tel No.
Website
Ticker Symbol
Stock Exchange Mumbai
Products and Services
Head Office
Category Products/Services
Category 1 Product 1, Product 2, Product 3
Key People
Name Designation
Product 4, Product 5, Product 6,
Category 2
Product 7 Person 1 Chairman
Person 2 CFO
Category 3 Product 8, Product 9, Product 9
Person 3 COO & Executive Director
Person 4 Company Secretary
IN VITRO DIAGNOSTICS MARKET IN INDIA 2012.PPT 8
9. Public: Domestic Company – Company 1
(2/3)
Financial Snapshot Key Ratios
Total Income Net Profit / Loss y‐o‐y change
INR bn INR bn Particulars 2011 2010 2009 2008
(2011‐10)
200 z2 150 Profitability Ratios
150 100 Operating Margin
Net Margin
100 z1 50 Profit Before Tax Margin
u2 v2 w2
50 0 Return on Equity
u1 v1 w1 Return on Capital Employed
0 ‐50 Return on Working Capital
20‐‐ 20‐‐ 20‐‐ 20‐‐ Return on Assets
Financial Summary Return on Fixed Assets
Cost Ratios
• The company earned a net profit of INR xx bn in FY 20xx, as Operating costs (% of Sales)
compared to net profit of INR xx bn in FY 20xx Administration costs (% of
• The company reported total Income of INR xx bn in FY 20xx, Sales)
registering an increase of xx per cent over FY 20xx Interest costs (% of Sales)
Liquidity Ratios
• The company earned an operating margin of xx per cent in FY 20xx,
Current Ratio
a decrease of xx percentage points over FY 20xx
Cash Ratio
• The company reported debt to equity ratio of xx in FY 20xx, a Leverage Ratios
decrease of xx per cent over FY 20xx Debt to Equity Ratio
Debt to Capital Ratio
Key Financial Performance Indicators
Interest Coverage Ratio
Indicators Value (30/05/2012) Efficiency Ratios
Market Capitalization (INR) Fixed Asset Turnover
Asset Turnover
Total Enterprise Value (INR)
Current Asset Turnover
EPS (INR) Working Capital Turnover
P/E Ratio (absolute) Capital Employed Turnover
Improved Decline
IN VITRO DIAGNOSTICS MARKET IN INDIA 2012.PPT 9
10. Public: Domestic Company – Company 1
(3/3)
Key Business Segments Key Geographic Segments
Segment 1 Segment 2 Geography 1 Geography 2
p1% q1% s1%
r1%
a1% b1% c1% d1%
p2% q2% s2%
r2%
a2% b2% c2% d2%
20‐‐ 20‐‐ 20‐‐ 20‐‐ 20‐‐ 20‐‐ 20‐‐ 20‐‐
Business Highlights
Description News
• Company 1 is part of the ‘Y’ Group and with it’s diverse product portfolio is currently ranked ‘n’th in the
Indian market
Overview
• Has an USFDA approved manufacturing facility in City 1 and five more plants across India in City 2, City 3,
City 3, City 4, City 5 and City 6
• POC products like HbA1c meters, urine analysis products, and rapid tests
IVD Products
• Other products include biotechnology equipment, blood chemistry analyzers, blood glucose meters,
clinical chemistry test kits, diabetes medical care support services, and osmometers to independent
laboratories, hospitals, doctors, and patients
IN VITRO DIAGNOSTICS MARKET IN INDIA 2012.PPT 10
11. Thank you for the attention
The In Vitro Diagnostics Market – India report is part of Research on India’s Healthcare Series.
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