Diagnosis is the first step to
disease management, as without accurate identification there is no possibility
for accurate treatment. India is a land full of opportunities for players in
the diagnostic service industry. The country has become one of the major
destinations for various diagnostic services. Also, India's thriving economy is
driving urbanization and developing an expanding middle class, with rising
disposable incomes to spend on healthcare.
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"Indian Diagnostic Services
Market Outlook 2020", the diagnostic services market is expected to
continue growing at 27.5% for next five years. This growth is likely to be
driven by improving healthcare facilities, medical diagnostic and pathological
laboratories, private-public projects, and the health insurance sector.
Moreover, with the rise in health consciousness in the society and the rising
burden of chronic diseases, this market will swell to approximately INR 860
Billion in revenues market by 2020.
Though a major portion of
diagnostic business is being managed by the so called unorganized sector, the
diagnostic service market is expected to become much more organized and
consolidated with a lot of small and independent laboratory players becoming
franchisees for the larger players. In order for clients and interested
companies to enter this industry, our report provides an in-depth analysis of
the cost assessment comparison of most common pathological and radiological
tests among Tier I and Tier II cities.
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It provides an overview of the
Indian diagnostic lab services market delivering an effective overview of the
market size and future forecast. In terms of services, the market is dominated
by pathology services, which account for approximately 70% of the market. The
report additionally investigates the current market trends and opportunities
with their impact on the performance of the sector. Further, the report
provides consumer behavior patterns with respect to diagnostic services.
Moreover, the report also provides insights regarding the prevalence and
incidences of various diseases for which the diagnostic services are widely
used.
The report also covers various
business models in the Indian diagnostic services market, which generally scale
up the level of diagnostic services and facilitate the entry of new market
players. The report effectively assesses the implementation of commonly used
models, such as PPP model, hub and spoke models, and even analyzes their impact
in generating revenue. Moreover, experts prudently analyzed the regulatory and
accreditation landscape with respect to setting up of diagnostic labs in Indian
cities. The report, in this context, investigates into the viability of
accrediting such diagnostics labs.
After an exhaustive study of the
industry, the report presents a deep dive competitive landscape covering the
top players along with business overview, strength-weakness analyses, recent
developments, and growth strategies adopted by them to sustain their position
in the Indian diagnostic services market.
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