08 Jan 2021
Posted in Medical Devices
HER2 amplification tests market in India to grow at 7% CAGR over next five years, says GlobalData
Oncology tests in India currently have been either delayed or deferred due to the ongoing COVID-19 pandemic. However, the human epidermal growth factor receptor 2 (HER2) amplification tests market is expected to rebound and grow at a compound annual growth rate (CAGR) of 7% over the next five years as the government has eased down lockdown measures, according to GlobalData, a leading data and analytics company.
GlobalData’s report, ‘HER2 Amplification Tests (In Vitro Diagnostics) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that India’s HER2 amplification tests market accounted for 8% of the Asia-Pacific market in 2020.
HER2 amplification test market in India has decreased in 2020 due to the COVID-19 pandemic. The market is expected to bounce back in 2021 to cover up the missing tests that were supposed to be done in 2020. The market will come in line with the expected year-on-year growth rate by 2022.
HER2 amplification tests market is highly fragmented in India with Agilent Technologies, F. Hoffmann-La Roche Ltd, and Danaher Corp being the major players.
Anusha Kaushik, Medical Devices Analyst at GlobalData, comments: “With the easing of lockdown measures, cancer patients will consult oncologists at a higher rate. In addition, oncology testing is expected to rise in India due to the increase in doctor’s references for testing, growing general awareness among general population through public and private programs, increasing prevalence of cancer and availability of assays and kits, which are efficient in detection of cancer.”
HER2 amplification testing is said to provide better prognosis for breast and gastric cancer and can be used to determine which HER-targeted therapy will work for a patient. At present, HER2 amplification tests account for only 5% of the total oncology testing market in India.
Ms Kaushik concludes: “HER2 amplification testing is expected to increase in the next five years driven by the growing incidence of breast and gastric cancer, accessibility to diagnostics, and technological advancements to create inexpensive diagnostic tests. HER2 amplification tests in India will be also driven by the release of biosimilars, which are expected to increase the accessibility to HER-targeted therapies. This is expected to result in higher test volumes.”