In-vitro diagnostics (IVD) are tests performed on the samples of blood or tissue taken from the human body to detect a wide range of diseases. These tests can monitor overall health to prevent and treat various diseases. IVD includes tests based on various techniques such as enzyme-linked immunosorbent assay (ELISA), radioimmunoassay, polymerase chain reaction (PCR), isothermal nucleic acid amplification, and next-generation sequencing. They enable the early detection, management, and control of chronic and infectious diseases. The initiatives undertaken to strengthen the healthcare ecosystem in the country is expected to drive the IVD market growth in Nepal.
The country’s public sector organizations are collaborating with WHO and World Bank to undertake initiatives to develop its healthcare sector, which is expected to increase public awareness about the importance of early disease diagnosis and treatment. For instance, in 2021, the World Bank approved USD 100 million in additional financing to help the Government of Nepal achieve its goal of strengthening the country’s school and healthcare sectors. This initiative supports Nepal’s vision of an efficient, effective, and transparent healthcare system. The government has also undertaken several projects to assess and improve healthcare in the country. For instance, a study was initiated by the Government of Nepal, ‘Estimating the Burden of Diseases in Nepal- A Pilot Study on Identifying the Cause of Death in Thaha Municipality of Makwanpur District’ in 2021. This project is aimed to identify the causes of death by verbal autopsy in the Thaha Municipality of Makwanpur District to estimate the disease burden in Nepal.
The healthcare expenditure of a country is crucial for developing its healthcare infrastructure. In 2020, the Government of Nepal allocated around USD 0.71 billion to develop the country’s healthcare sector, an increase of 32% over USD 0.54 billion allocated in 2019. Moreover, in July 2021, the government allocated USD 98 million to build a hospital with three hundred beds for infectious diseases in Kathmandu and hospitals with fifty beds across the capitals of all seven provinces of the country. In 2020, around USD 110 million were allocated to set up 272 health facilities at the local level all over the country
Along with the initiatives, the increasing prevalence of communicable and non-communicable diseases is expected to play a crucial role in driving market growth. Behavioral risk factors such as alcohol consumption, smoking, and unhealthy diets are increasing the burden of non-communicable diseases in Nepal. Additionally, the prevalence of communicable diseases is also rising in the country. Several new infections, such as dengue fever, scrub typhus, H1N1 & H5N1 influenza, and HIV-TB coinfections, have emerged in the country in recent years, posing serious public health risks.
In addition to communicable diseases, non-communicable diseases also pose a burden on the country’s healthcare system and is one of the main factors for morbidity and mortality. A survey was conducted by the Government of Nepal with the World Health Organization to identify the factors leading to the prevalence of non-communicable diseases, including tobacco use, alcohol consumption, sedentary lifestyles, unhealthy diets, and social, environmental, and economic factors.
Thus, the increasing prevalence of diseases in the country, paired with supportive initiatives, are expected to drive the Nepal in-vitro diagnostics market. The Nepal in-vitro diagnostics market is expected to grow at a CAGR of 12.3% to reach $62.70 million by 2029, according to Meticulous Research®.
Access Free Report Here: https://www.meticulousresearch.com/product/nepal-in-vitro-diagnostics-market-5356