Lax Accreditation and Regulatory Environment - Major Challenges in the Indian Diagnostic Services Market

A new research report from RNCOS reveals that despite being largely unorganized, the Indian diagnostic services market, is fast emerging as one of the top growing segments of the healthcare services industry. In 2011, the overall market is estimated to have reached around INR 97.3 Billion and is further predicted to grow at a healthy double-digit CAGR during 2012-2015. This growth is primarily driven by factors including rise in the number of middle-class households, expansion of diagnostic lab service providers in tier-II and -III cities, improved government support for strengthening healthcare infrastructure, and huge private investments in the sector.

On a good growth trajectory, absence of proper regulatory framework and weak accreditation system are the major industry roadblocks that may hinder the future market growth. There are several accreditation bodies that are involved in the accreditation of laboratories as per international standards like NABL accreditation, CAP accreditation, and ISO certification, but none of them are mandatory. The only requirement to open a diagnostic lab is the need for registration under the Shop and Establishment Act. This leaves the market highly unorganized, prying it open for competition from players who offer poor quality services at low costs, making the market volatile and price sensitive.

The report titled, “Indian Diagnostic Services Market Outlook 2015”, by RNCOS further provides an effective insight and prudent analysis of the current status and future positioning of the Indian diagnostic services market. It projects the future size of overall market for 2012-2015 and covers effective description of key drivers and trends that will propel the growth.

Moreover, it effectively evaluates the consumer behavior patterns with respect to diagnostic services in India and takes into account several key issues. Further, the report evaluates the costs of most common tests in India and compares the cost structure in tier-I and -II cities. An optimum insight into the key business models such as PPP model, hub and spoke model and single specialty model has also been provided in the report.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM418.htm

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