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.
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:-
Related
Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
