What Is The Potential Of India Diagnostic Laboratories Market?
High prevalence of diseases due to growing population is the major factor which is driving the diagnostic laboratories market in India. Additionally, rising teleradiology industry and government support to build advanced healthcare infrastructure and accelerating self-caring attitude among the people towards preventive healthcare checkups is further fuelling the diagnostic market in the country.
India diagnostic laboratories market was worth INR ~ crore in FY’2016, which included both government and private laboratories, recording a growth at a CAGR of ~% in between FY’2011 to FY’2016 with revenues being INR ~ crore in FY’2011. Absence of any stringent regulations in diagnostics industry is also one of the major factors which resulted in
entrance of large number of new players in the market, catering to both radiology and pathology needs of the patients. The market which is driven by majority of the unorganized players, constituting for ~% revenue of the total private laboratories market in year FY’2016, is a home for more than 100,000 laboratories already operating in India.
With the spread of infectious diseases that threaten human life, these laboratories extend their services to masses by collaborating with various health institutions operating in the country. Diagnostic laboratories owned by private players like SRL Diagnostics, Dr Lal PathLabs, Metropolis and Thyrocare and other organized and unorganized players have been significantly increasing both in terms of number and revenue over the years and are observed to dominate the market in FY’2016.
Which Services Type Is Generating Maximum Revenue For The Diagnostic Laboratories Market?
Pathology tests dominated the market with revenue share of ~% earned by the overall private diagnostic laboratories in the country in FY’2016. However, radiology laboratories have witnessed growth at a rapid pace recording CAGR of ~% from FY’2011 to FY’2016. Pathology testing being first line of diagnosis for majority of diseases is the major factor which resulted in dominant position of the segment in the market, catering to the needs of the patients. Biochemical testing of blood sugar level becomes a mandatory recommendation by the doctors after every regular interval of time owing to the growing prevalence of diabetes in the nation while for the diagnosis of cardiovascular disease lipid profiles play a similar role.
Radiology tests or imaging diagnostics contributed ~% in revenue in India private diagnostic laboratories market in FY’2016. The major factor which resulted in low share of radiology tests is that the doctor only prescribes for these tests in case he or she is sure of the disease and wants to check the complexity associated with it. High cost involvement in installation of imaging equipment makes private laboratories offer radiology services at a much higher price to the patients is the major driving factor for the segment.
What Is The Scenario Of Pathology Services Market In India.
Rising density of population and concern for health related issues made the overall diagnostic market in India witness an increase in revenue, majorly contributed by the pathology laboratories of the country. Rise in the number of diseases that cause a threat to human life especially infectious diseases and diseases such as diabetes, abnormal thyroid level made people undergo regular checkups which acted as the major driving factor for the pathology market during this period. Healthcare expenditure of India per capita increased from INR ~ crore in FY’2011 to INR ~ in FY’2016, which is another important factor, consequently advocating India pathology laboratories market.
Rising population further resulted in more severe diseases being spread for which patients had to undergo tests at pathology centers, thereby adding to the total revenue earned by pathology tests market. Pathology laboratories had the largest share in diagnostic industry in FY’2016 due to the fact that pathology tests are the most preferred diagnosis for all major diseases.
Rise in awareness levels among people towards infectious diseases made them opt for more pathology tests overtime. Health insurance witnessed an increase in the number of people opting for the services, owing to rising diseases in country.
For more information about the publication refer to below link:
https://www.kenresearch.com/healthcare/diagnostics/india-diagnostic-lab-market-statistics/84893-91.html
Related Reports:
UAE Healthcare Market Outlook to 2020 - Rising Medical Tourism and High Prevalence of Diabetes to Foster Future Growth
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Saudi Arabia Healthcare Market Outlook to 2019 - Rising Lifestyle Diseases and Government Investment to Spur Future Growth
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
High prevalence of diseases due to growing population is the major factor which is driving the diagnostic laboratories market in India. Additionally, rising teleradiology industry and government support to build advanced healthcare infrastructure and accelerating self-caring attitude among the people towards preventive healthcare checkups is further fuelling the diagnostic market in the country.
India diagnostic laboratories market was worth INR ~ crore in FY’2016, which included both government and private laboratories, recording a growth at a CAGR of ~% in between FY’2011 to FY’2016 with revenues being INR ~ crore in FY’2011. Absence of any stringent regulations in diagnostics industry is also one of the major factors which resulted in
entrance of large number of new players in the market, catering to both radiology and pathology needs of the patients. The market which is driven by majority of the unorganized players, constituting for ~% revenue of the total private laboratories market in year FY’2016, is a home for more than 100,000 laboratories already operating in India.
With the spread of infectious diseases that threaten human life, these laboratories extend their services to masses by collaborating with various health institutions operating in the country. Diagnostic laboratories owned by private players like SRL Diagnostics, Dr Lal PathLabs, Metropolis and Thyrocare and other organized and unorganized players have been significantly increasing both in terms of number and revenue over the years and are observed to dominate the market in FY’2016.
Which Services Type Is Generating Maximum Revenue For The Diagnostic Laboratories Market?
Pathology tests dominated the market with revenue share of ~% earned by the overall private diagnostic laboratories in the country in FY’2016. However, radiology laboratories have witnessed growth at a rapid pace recording CAGR of ~% from FY’2011 to FY’2016. Pathology testing being first line of diagnosis for majority of diseases is the major factor which resulted in dominant position of the segment in the market, catering to the needs of the patients. Biochemical testing of blood sugar level becomes a mandatory recommendation by the doctors after every regular interval of time owing to the growing prevalence of diabetes in the nation while for the diagnosis of cardiovascular disease lipid profiles play a similar role.
Radiology tests or imaging diagnostics contributed ~% in revenue in India private diagnostic laboratories market in FY’2016. The major factor which resulted in low share of radiology tests is that the doctor only prescribes for these tests in case he or she is sure of the disease and wants to check the complexity associated with it. High cost involvement in installation of imaging equipment makes private laboratories offer radiology services at a much higher price to the patients is the major driving factor for the segment.
What Is The Scenario Of Pathology Services Market In India.
Rising density of population and concern for health related issues made the overall diagnostic market in India witness an increase in revenue, majorly contributed by the pathology laboratories of the country. Rise in the number of diseases that cause a threat to human life especially infectious diseases and diseases such as diabetes, abnormal thyroid level made people undergo regular checkups which acted as the major driving factor for the pathology market during this period. Healthcare expenditure of India per capita increased from INR ~ crore in FY’2011 to INR ~ in FY’2016, which is another important factor, consequently advocating India pathology laboratories market.
Rising population further resulted in more severe diseases being spread for which patients had to undergo tests at pathology centers, thereby adding to the total revenue earned by pathology tests market. Pathology laboratories had the largest share in diagnostic industry in FY’2016 due to the fact that pathology tests are the most preferred diagnosis for all major diseases.
Rise in awareness levels among people towards infectious diseases made them opt for more pathology tests overtime. Health insurance witnessed an increase in the number of people opting for the services, owing to rising diseases in country.
For more information about the publication refer to below link:
https://www.kenresearch.com/healthcare/diagnostics/india-diagnostic-lab-market-statistics/84893-91.html
Related Reports:
UAE Healthcare Market Outlook to 2020 - Rising Medical Tourism and High Prevalence of Diabetes to Foster Future Growth
India E-Health Services Market Outlook to 2020 – Focus on On-Call Home Healthcare, Telemedicine, M-Health and Healthcare IT Segment
Saudi Arabia Healthcare Market Outlook to 2019 - Rising Lifestyle Diseases and Government Investment to Spur Future Growth
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
