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 $11 billion in 2016, and with intensive R&D activities and strong government initiatives, the industry is expected to reach $100 billion by 2025. 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.
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Company’s registry currently has over 25,000 qualified cord blood samples. The company further estimates that in 2022, LifeCell would have enough inventories to provide a well-matched unit to almost all of its community members and their families. Thus, this contributes to the growth of the India biological sample handling market growth during the forecast period.
Market Segmentation
India Biological Sample Handling Market by Storage Type
- Cold Storage
- Room Temperature Storage
India Biological Sample Handlings Market by Application
- Drug Discovery
- Forensic Investigation
- DNA Extraction
- Proteomics and Genomics Studies
- Others
India Biological Sample Handlings Market by Ownership
- Commercial
- Academic/Research
Company Profiles
- Abbott Laboratories
- Becton, Dickinson And Co.
- Fisher BioServices
- ReproCELL Europe Ltd.
- Sigma-Aldrich Co. LLC.
- Technidata
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
