The market faces multiple challenges related to access, affordability and technology adoption.
According to data from GlobalData, India’s tumor detection market is expected to grow at a compound annual growth rate of around 2% by 2033.
By 2024, the country will account for more than 3% of the Asia-Pacific oncology testing market.
However, Shreya Jain, medical device analyst at GlobalData, said the market faces multiple challenges related to accessibility, affordability and technology adoption.
“The adoption and integration rate of new methods such as AI-assisted diagnosis, precision medicine and minimally invasive treatments is low due to insufficient infrastructure and expertise,” the analyst said.
Meanwhile, in a recent development, Bengaluru-based Strand Life Sciences launched ‘CancerSpot’, a blood-based test that uses methylation profiling technology for early detection of several cancers.
“Customized diagnostics, such as genomic tests calibrated for the Indian population, can increase the accuracy of early detection, improve risk stratification, and ensure treatments are tailored to the unique genetic profile of Indian patients,” Jain added.
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