India Biological Sample Handling Market Size, Share & Forecast To 2025
Posted by Rishabh on March 18th, 2020
India Biological Sample Handling market is expected to grow at CAGR of around 9.5% during the forecast period. India is one of the fastest-growing economies across the globe; and thus, contributes considerably to the biological sample handling market. There major factors driving the market growth include the increasing per capita healthcare expenditure and increasing funding in biotechnology research in the country. According to India Brand Equity Foundation (IBEF), the biotechnology industry of India was valued at billion in 2016, and with intensive R&D activities and strong government initiatives, the industry is expected to reach 0 billion by 2025.
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The changing healthcare scenario in India is further creating opportunities for an increase in demand for drugs that are used to treat disorders related to the CVDs. The growing population in India will mark the country as high potential location for clinical trials, a low-cost manufacturing destination, and an untapped high potential market by 2050. The healthcare system in India is struggling to cater to demand the vast population of the country; however, increasing government expenditure on the healthcare system is creating opportunities for business growth in India.
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The Government of India has taken some steps to promote biological sample collection techniques and have set up numbers of stem cell banks throughout the country. For instance, LifeCell, India’s first and largest stem cell bank, has been successfully operating in the country since its inception in 2004 and has gained the trust of over 3 million parents who have banked their children’s stem cells with the company. Company’s registry currently has over 25,000 qualified cord blood samples.
Secondary Sources Include
India Biological Sample Handling Market by Storage Type
India Biological Sample Handlings Market by Application
India Biological Sample Handlings Market by Ownership
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About the AuthorRishabh
Joined: June 18th, 2019
Articles Posted: 354
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