Key Market Indicators
Indian Diagnostic Reagent Exports Projected to Hit $68 Million by 2028 India's diagnostic reagent exports are projected to reach approximately $68 million by 2028, up from around $59 million in 2023. This represents an average annual growth rate of 2.3%. Since 1993, the Indian supply of diagnostic reagents has seen a steady increase, averaging a 4.5% growth per year. In 2023, India ranked 26th in the global market, with Australia surpassing it with exports valued at around $59 million. Germany, the Netherlands, and the United Kingdom occupied the second, third, and fourth positions, respectively, in the same ranking. Meanwhile, India's diagnostic reagent imports are forecasted to climb to nearly $655 million by 2028, up from $556 million in 2023. This marks an average annual growth rate of 2.6%. Since 1993, the demand for diagnostic reagents in India has been on the rise, showing an average annual increase of 3.9%.
