Increasing Demand in Tier-2 and Tier-3 cities and further consolidation through Mergers and Acquisitions, has helped the Organised Sector to grow at a fast pace in the Indian Diagnostic Laboratory Market: Ken Research

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The disease burden rate at present is significantly higher in states with low healthcare infrastructure development, such as Assam, Uttar Pradesh, and other poorer northern states, as compared to states with advanced phases of development, such as Kerala and Goa.

Due to lack of regulations the test pricing highly differs in this market. The National Pharmaceutical Pricing Agency (NPPA) analyzed bills from four major private hospitals and found out that diagnostics, at 15.56%, make up the second largest component on hospital bills.

India is emerging as a major medical tourism destination, primarily due to its lower treatment costs as compared to other developed countries The Foreign Tourist Arrivals (FTAs) in India on medical visa during 2016 and 2017 were estimated at 4,27,014 and 4,95,056 respectively, registering a positive growth of 15.9%.

Non-Communicable Diseases: India’s burden of non-communicable diseases (NCDs) is escalating. NCDs were typically present in individuals aged 55 years or older in many developed countries, but their onset occurs in India a decade earlier (≥45 years of age).

Augmenting this problem further, are the issues of multiple chronic conditions and the fact that many remain undiagnosed due to lack of awareness and insufficient health-care access. At the same time, infectious and parasitic diseases still pose substantial challenges to the public health system in India, resulting in a double burden of disease.

Regulations for Pricing: The Government is supporting states through ‘National Free Diagnostic Service Initiative’ to provide essential diagnostic services in public health facilities. The guidelines were brought out in July 2015 to provide states with a broad framework for implementing free drug initiatives. Along with this a guidance document for implementation of Free Laboratory Services in States/ UTs was released in August 2019 to guide them on planning and implementing Labs services in Hub and Spoke model.

Medical Insurance: It is expected that by 2021, approximately 90 million Indian citizens would be above the age of 65. In the past, India had one of the highest rates of out of pocket expenditure on medical facilities however with the help of the government about 20% of the population has been able to gain access to healthcare services now. Most of the medical insurance available doesn’t pertain towards diagnostics however, that is expected to change in the near future as insurance penetration increase further in the country.

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.

india-diagnostic-laboratories-market

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

For More Information on the research report, refer to below link:

India Diagnostic Laboratories Market

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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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