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Genetic and microbiome tests will propel growth of Indian healthcare with tech support in 2022. The pandemic and the tech-savvy patient pool are contributing to the advancements in the sector.
According to Dr. Surendra K Chikara, founder & CEO, Bione, the future outlook for D2C genetic tests and microbiome tests is certainly very bright. The human microbiome market is projected to reach US$ 1,598 million by 2028 from US$ 894 million in 2025, at a CAGR of 21.3% from 2025 to 2028. The world’s consumer genetic testing market was worth US$ 70 million in 2015 and is expected to rise to $340 million (£261 million) by 2022.
In the Indian market, awareness is still quite minimal and needs to be ramped up. There is a link between gut health and overall health and how DNA testing can help recognize the risk of chronic disease, added Chikara.
Noting that the pandemic paved the way for the large-scale digitization of healthcare, with the biggest trend being the rise and adoption of telemedicine, Rahul Kumar, co-founder, Vital which is an Insurtech platform said there is a change in consumer behavior with a focus on personal health and wellness. Keeping the overall health and lifestyle of a person in mind, insuretech has started moving towards holistic health coverage and creating customized products Consumers appreciate a one-stop product, one that is built for their particular requirements. The rise of health covers which are a mix of insurance and healthcare benefits have been largely successful in a post-pandemic era, said Kumar.
According to Surajit Chakrabartty, CFO, MedGenome Labs with the second wave of pandemic gripping the world, 2021 has been very significant for genomics. Discussions around viral variants, varying susceptibility of individuals, pressure on vaccine development and general emphasis on health highlighted the role of genomics in providing targeted insights in all these areas. Incidences of heart disease in younger populations stressed the importance of assessing genetic predisposition risk in seemingly healthy individuals. In addition, Pharmacogenomics gained significance in cancer care, with many companion diagnostic tests getting FDA approvals.
The year 2022 will see genetic diagnostics become more prominent in drug discovery and development, shifting focus from clinicians to consumers in creating awareness for managing disease-related risks and realising the value of genomic data in bringing new and advanced tests for cancer and the entire rare disease spectrum, said Chakrabartty.
Pranav Bajaj, co-founder-Medulance- India's first and leading comprehensive end-to-end emergency response service provider pointed out that in recent years, the healthcare industry witnessed rapid growth and an increase in the number of startups. According to Invest India, the healthcare market in India will be worth Rs. 372 billion by 2022, with a CAGR of 39%. New-age technologies aid most healthcare startups in improving their services.
Even for us the use of technology and real-time tracking assisted in reducing emergency response time. Furthermore, location intelligence enables us to be better prepared, plan ahead of time, respond more quickly, and carry out end-to-end operations effectively and efficiently. With ongoing technological advancements in the healthcare sector, the sector has a greater potential for improvement and growth, said Bajaj.
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