High prevalence of infectious diseases, aging population, rising prevalence of diabetes, elevating number of sports and road accident injuries and the technological advancements in the industry are expected to fuel the India diagnostic laboratories market in future
With growing prevalence of diabetes and other infectious diseases in India, the cases of people adopting preventive healthcare checkups have witnessed a rise leading to increased demand for diagnostic laboratories market in the country. Increasing prevalence of chronic diseases overtime in India has led to the necessity of efficient diagnosis in the country. Consequently, the diagnostic laboratories market in India is undergoing phase of technological development with launch of advanced radiology equipments; which are expected to revolutionize the market in future.
Additionally, the market has witnessed launch of few low cost tests for economically sensitive population of the country. These tests can be performed both within and outside the hospitals. Moreover, due to advancements in technology, a lot of tests can be done in less time with the availability of rapid tests kits available in the market. These technology advancements include Point-of-Care Testing (POCT), which is a series of decentralized diagnostic tests with the use of hand handled portable devices, connected to small analyzers.
Market players operating in the diagnostic laboratories industry have also invested high amount to launch technologically advanced tests in the market. The major example of such tests is launch of FISH (Fluorescent in-situ hybridization) Technology, which was introduced by Metropolis India in 2011 to detect genetic abnormalities and diagnose cancer.
Similarly, Dr. Lal Pathlabs announced the launch of diagnostic test for Zika virus and interphase chromosomal profiling in year 2016 to advance its diagnostic services. There are several other technological advancements which have largely contributed to the rising demand for laboratory testing services in recent past. These advancements include digital pathology, whole slide imaging, molecular diagnostics, wearable biosensors and mHealth.
The report titled “India Diagnostic Laboratories Market Outlook to 2021 – Growing Prevalence of Diseases and Launch of Technologically Advanced Procedures to Drive the Market” provides a comprehensive analysis of the diagnostic laboratories market. The report includes the cumulative revenue generated by the market players from diagnostic services including both government and private diagnostic laboratories. The private diagnostic laboratories has been further explained in detail
with details on market share contributed by pathology tests and radiology tests, by Tier I, Tier II and Tier III Cities, and by hospital based diagnostic laboratories, polyclinics and independent diagnostic laboratories operating in India. The share by organized and unorganized players has also been provided in detail to clearly explain the present competition scenario in the market. The stakeholders of this report include diagnostic laboratories market players, laboratories equipments providers, doctors, companies involved in research and development activities, and the new entrants and venture capitalists who wish to invest in diagnostic laboratories market in future.
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Ankur Gupta,Head Marketing&Communications