Diagnostics products manufacturing company Beckman Coulter, part of the Danaher Corporation, eyes a manufacturing presence in India, as part of its long-term market strategy, said Sridhar Natraja, Managing Director, Southwest Asia, Beckman Coulter Diagnostic. The decision stems from factors like a rising lab count, a supportive regulatory environment, and more.
India’s in vitro diagnostics (IVD) industry is rapidly scaling every year, primarily driven by the growth in the number of labs and hospitals’ labs expanding their presence to Tier-2 and Tier-3 markets through their labs for their clinics—leading to an increase in testing volumes. In addition, post-Covid, wellness testing is also gaining traction.
According to the company, the growing lab count and hospitals expanding to Tier-2 and Tier-3 markets present growth opportunities in India. “As a market, India offers growth opportunities for us. In fact, the regulatory environment and the labs and hospitals voluntarily moving towards accreditation are good signs for us to stay invested in the Indian market,” said Natraja.
“While we are seriously exploring manufacturing in India, we will start with some consumer goods. As of now, the discussions are ongoing with the global BU (Business Unit). So, once we have something official, we will be able to announce it,” Natraja told businessline. Manufacturing in India also aims to serve global needs.
Source : Businessline