Fifteen years ago, Goldman Sachs coined the term BRIC to refer to the rapidly expanding economies of Brazil, Russia, India, and China. Looking at the current situation, Brazil’s economy is in a serious recession, and Russia’s economy has also taken some backward steps. Both countries are also beset by political uncertainties. China remains a bright point in the global market for instrumentation, but the slowdown in the economy has started to have cascading effects across multiple industries on a worldwide level. In contrast, India’s GDP is estimated to be growing more rapidly than that of China, and is forecast to do so for at least the next five years. Other indicators for the Indian economy are also on the upswing. These developments continue to provide growth and opportunities for instrument manufacturers selling into this vibrant market, valued at well over $1 billion in 2015.
In addition to characterizing the Indian economy, and its major contributing segments, this report provides a wealth of information on the size and growth of the market for instrumentation within India. This data is segmented by dozens of individual product categories, as well as the end-user markets.
This is SDi’s third report specifically on the Indian market for instrumentation, and this builds on previous efforts. However, this report for the first time presents the results of an extensive end-user survey of scientists located in India. A total of 325 respondents completed the survey, providing a wealth of information on budget trends, vendor satisfaction, installed technologies, and future purchasing plans. More than four-fifths of the sample has plans to purchase instrumentation within the next two years.
The combination of market data and end-users perspectives makes this a valuable resource for instrument vendors assessing their position in the Indian market, understanding the needs and preferences of customers, gauging customer satisfaction, and planning for the future.
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