India's Oncology Testing Market Projected to Expand at 2% CAGR Until 2033: Report
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New Delhi, Dec 13 (NationPress) The oncology testing sector in India is anticipated to experience a compound annual growth rate (CAGR) of approximately 2 percent through 2033, as highlighted in a recent report.
The analysis conducted by GlobalData, a prominent data and analytics firm, indicates that the increasing incidence of cancers in the nation is primarily attributed to lifestyle shifts, environmental influences, and an ageing populace.
Cancer represents a considerable social and healthcare challenge in India, leading to an escalating demand for sophisticated oncology diagnostic and therapeutic services. Each year, over 1 million new cases are identified, with approximately 900,000 deaths reported annually.
According to the research, in 2024, India made up more than 3 percent of the Asia-Pacific (APAC) oncology testing market.
However, by intensifying efforts to create innovative solutions and promote advanced research, the nation aims to progressively meet the healthcare demands of its population as well as global communities.
“Oncology testing in India encounters numerous obstacles concerning access, affordability, and technological integration. Due to insufficient infrastructure and expertise, the implementation and assimilation of novel methods such as AI-assisted diagnostics, precision medicine, and minimally invasive treatments remain limited,” stated Shreya Jain, Medical Devices Analyst at GlobalData.
“Customized diagnostics, such as genomic tests tailored for Indian demographics, can significantly enhance early detection accuracy, refine risk stratification, and ensure that treatments are compatible with the distinctive genetic characteristics of Indian patients. This not only aids in improving survival rates in India but also enriches the global comprehension of cancer biology,” Jain added.
A recent evaluation by ResearchAndMarkets.com, a market research organization, revealed that the outlook for the cancer diagnostic testing sector in India is encouraging for businesses considering entry. This optimistic perspective is driven by various factors, including government initiatives such as the National Cancer Control Programme and the Ayushman Bharat Scheme, which are emphasizing cancer prevention, early diagnosis, and treatment.
