Overview: India Diagnostic Laboratory Market
The report observes the fast-growing Indian
diagnostic industry. The market has been observed to be at the
growth stage, with the competition being highly fragmented owing to the
presence of unorganized sector. The need of the hour for the industry is
implementation of regulations which would also help the organized sector to
grow further and will bring uniformity and higher test quality standards. The India Diagnostic Laboratory Market is
expected to grow at a CAGR of ~% from FY’2015 to FY’2019. There is expected to
be a shift towards molecular testing in the future along with an increased
penetration of insurance in this sector which would help a number of
individuals to have access to this facility. Some of the challenges faced by
the industry include lack of regulations, lack of price standardization, high
cost of equipments, growing operating expenses in providing new or existing
medical services etc.
Industry Segmentation by Government and Private Labs, FY’2020
The governments labs help cater to the lower strata of the economy as
they have a lower pricing policy. The private labs, which form the majority of
the market, focus more on research and development and have a variety of high
end tests.
India Private Diagnostic Laboratory Market Segmentation,
FY’20
Revenue by Radiology
and Pathology, FY’20
The market is dominated
by the pathology department. The initial investment required for the same is
lesser as compared to radiology. Pathology also happens to be the first step
towards diagnosis of any disease.
Revenue by Pathology,
FY’20
Amongst the different
tests, clinical bio-chemistry holds the largest revenue share in the market. Haematology,
which is often used as a diagnosis for cancer, also provides a significant
amount towards the overall pathology market.
Revenue by Radiology,
FY’20
X-rays hold the maximum
share in the radiology market. Radiology tests can be extremely complex and
their equipments also cost a lot. X-rays are something which are available from
the smallest of labs to the bigger ones.
Revenue by Model Type,
FY’20
As the market is highly
unregulated majority of the labs are standalone labs. However, they often have
a tie up with other labs for high end testing. The diagnostic chains mostly
constitute the organised sector.
Revenue by Diagnostic
Chains, FY’20
There are only a handful
of PAN-India Diagnostic Chains in the country. As the market is highly
fragmented there are a number of regional labs spread across.
Revenue by Tier I, II
and III Cities, FY’20
The reference labs of
the major players are situated in the Tier I cities. It is also very difficult
to have trained doctors in the Tier III and rural areas of the country; thereby
majority of the revenue comes from Tier I.
Revenue by Organised
and Unorganised Players, FY’20
Well established organized players are extremely minimal in this space.
They use the hub and spoke model for their operations and expansion. The unorganized
players are mostly standalone centers.
Revenue by Type of
Customers, FY’20
Within the diagnostic industry of the country, there are a number of
doctors who have tie ups with hospitals. Referrals have proven to be beneficial
for both the parties involved.
Revenue by Cause for Testing, FY’20
As the kinds of diseases
have changed drastically over the past, individuals are becoming more conscious
of their health. In is expected in the future that the share of testing for
well-being would also increase.
Revenue by Payment
Method FY’20
The insurance sector is yet to penetrate into the diagnostic market.
Majority of the payment is currently through out of pocket expenditure.
India Diagnostic Laboratory Market Future Projections
The diagnostic labs market of the India has a lot of potential to grow in
the future. New technologies such as 3D
printing, which allows radiologists and clinicians to bring to life body parts
and tumors which were previously available only as flat diagrams will further
help the industry grow. More players are likely to penetrate the rural
healthcare market with increasing number of diagnostic laboratories coming up
in remote places during this period. India is also set to increase its public
health spending to 2.5% of its gross domestic product (GDP) by 2025 which would
help cut down on out of pocket expenditure.
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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