Press release
The Growth in India Diagnostic Laboratories Market is likely to be driven by Improving Healthcare Facilities, New Technologies in Diagnostics, Private-Public Projects, and the Health Insurance Sector: Ken Research
Telemedicine plays a crucial role linking patients from inaccessible areas to better diagnostic centers in cities where they can be prescribed and treated properly.
Regulations are an important part of this industry. The organized players are in need for the government to impose more regulations which would help channelize the industry into a more organized one and will help eradicate the malpractices. This would also help bring in price stability in the industry.
Molecular Testing: The cost of testing has drastically fallen during the last 5 years. Currently, the range stands between INR 3,000 to INR 100,000 for one whole genome sequencing. Roche, Abbott and Qiagen are the major vendors for the same. The future of the molecular diagnostics market lies with nucleic acid amplification tests and sequencing-based tests. Superior sensitivity and non-invasive sampling are the future methods of choice for cancer testing and prenatal screening.
Usage of Laboratory Diagnostics as a tool in Clinical Practice: The usage of laboratory diagnostics in order to establish clinical diagnosis is lower in India than its counterparts. Currently, the per capita average clinical laboratory tests performed in India is less than 1 test, whereas developed economies such as US and UK (have ranges of approximately 8 to 20 tests per capita). This figure is likely to increase as penetration of health insurance grows within the country combined with the awareness of preventive health among the general population and the importance of timely and correct diagnosis among the physician community.
Lack of Industry Regulations: The regulatory body for healthcare in India is National Accreditation Board for Testing and Calibration Laboratories (NABL). In 2017, ~1% of the total laboratories had been accredited. The lack of accreditations is also associated with the high cost for the same, due to which a number of players have failed in acquiring the said certifications. Despite constant efforts, the industry is still lacking a number of regulations. The Clinical Establishments Act, 2010, which prescribes minimum standards for facilities and services for clinical establishments had been enacted, however not all states are following it. The Delhi government plans to implement the Delhi Health Bill 2019 which is a modified version of the centre's Clinical Establishment Act to regulate diagnostic labs, nursing homes and hospitals.
Analysts at Ken Research in their latest publication "India Diagnostic Laboratories Market Outlook to FY'2025- By Government and Private Labs, By Radiology and Pathology, By Organized and Unorganized Players, By Business Model (Standalone, Hospital Based and Diagnostic Chains) , By Cities (Tier I, Tier II and Tier III cities) and By Payment Method (Out of Pocket Expenditure, Insurance based and Corporate Spending" believe that the market is highly fragmented with majority of its players from the unorganized sector. The trend of getting tested for sick-care will slowly change towards testing for well-being in the future. With the elderly population growing in the country, the demand for diagnostics is only going to grow further in the future. The market is expected to grow at a CAGR of 10.5% from FY'2020 to FY'2025.
For More Information on the research report, refer to below link:-
https://www.kenresearch.com/healthcare/diagnostics/india-diagnostic-laboratories-market-outlook/336548-91.html
Key Segments Covered:-
India Diagnostic Laboratories Market
Revenue Segmentation by Government and Private Labs
Government Labs
Private Labs
India Private Diagnostic Laboratories Market
Revenue Segmentation by Pathology and Radiology
Pathology Sector
Radiology Sector
Revenue Segmentation by Pathology
Clinical Biology
Hematology
Surgical Pathology
Histopathology
Clinical Microbiology
Molecular Biology
Others
Revenue Segmentation by Radiology
X-rays
Sonography
MRI
CT Scans
Mammography
PET
Others
Revenue Segmentation by Business Model
Standalone
Diagnostic Chains
Hospital Based Labs
Revenue Segmentation by Diagnostic Chains
Regional Chains
Large PAN-India Chains
Revenue Segmentation by Tier I, II and III Cities
Tier I cities
Tier II cities
Tier III cities
Revenue Segmentation by Organized and Unorganized Players
Revenue Segmentation by Type of Customers
Referrals
Walk Ins
Corporate Client
Revenue Segmentation by Payment Method
Out of Pocket Expenditure
Corporate Spending
Insurance
Key Target Audience:-
Government Diagnostic Labs
Private Diagnostic Labs
Research Labs
Medical Insurance Companies
Medical Device Manufacturers
Industry Associations
Government Bodies
Investors/VC's
Time Period Captured in the Report:-
Historical Period: FY'2015-FY'2020
Forecast Period: FY'2020-FY'2025
Companies Mentioned:-
Dr. Lal Pathlabs
SRL Diagnostics
Metropolis Healthcare
Thyrocare Technologies
Medall Healthcare Pvt Ltd
Suraksha Diagnostics Pvt Ltd
Suburban Diagnostics
Neuberg Diagnostics
Key Topics Covered in the Report:-
Spread of Communicable and Non-Communicable Diseases in India
Market Sizing Analysis of Diagnostic Labs in India
Ecosystem of Diagnostic Labs in India
Operating Models in India Diagnostic Labs
Pricing Analysis in India Diagnostic Labs Market
Value Chain Analysis of India Diagnostic Labs Market
Decision Making Parameters for a Diagnostic Lab
Issues and Challenges in the Industry
Government Regulations in the Industry
Segmentation by Radiology and Pathology
Segmentation by Type of Business Model (Standalone, Hospital Based Labs and Diagnostic Chains)
Upcoming Trends and Technologies in the Market
Competition Scenario and Market Share
Investment Model for a Franchise Lab in India
Success Stories of Diagnostic Labs in India
Related Reports:-
https://www.kenresearch.com/healthcare/medical-devices/brazil-medical-device-market-outlook/303834-91.html
https://www.kenresearch.com/healthcare/medical-devices/india-poct-market/209287-91.html
https://www.kenresearch.com/healthcare/diagnostics/brazil-diagnostic-labs-market-outlook/313760-91.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research's intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
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