1 / 17

India Diagnostic Labs Market Forecast 2027

India diagnostic labs market stood at USD12319.32 million in 2021 and is expected to grow at a CAGR of 11.65% during the forecast period. This can be attributed to increasing requirements for early disease detection and finding root causes as early as possible in order to acquire suitable therapy. Click : https://bit.ly/38Meq4i

pramod8
Download Presentation

India Diagnostic Labs Market Forecast 2027

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2017 – 2027 India Diagnostic Labs Market FORECAST AND OPPORTUNITIES www.techsciresearch.com M A R K E T I N T E L L I G E N C E . C O N S U L T I N G

  2. Table of Contents S. No. Contents 1. Service Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID-19 on India Diagnostic Labs Market 5. Voice of Customer 5.1. Brand Awareness 5.2. Factors Affecting Choice of Diagnostic Laboratory 5.3. Preference Among Population, By Provider Type 6. India Diagnostic Labs Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast By Provider Type (Stand Alone Diagnostic Labs, Hospital Based Diagnostic Labs, Diagnostic Chains) 6.2.1. 6.2.2. By Test Type (Pathology v/s Radiology) 6.2.3. By Sector (Urban and Rural) 6.2.4. By End User (Referrals, Walk-ins, Corporate Clients) 6.2.5. By Region 6.2.6. By States (Top 3 States) 6.2.7. By Company (2021) 6.3. Market Map 6.3.1. By Provider Type 2 2 © TechSci Research

  3. Table of Contents S. No. Contents 6.3.2. By Test Type 6.3.3. By Sector 6.3.4. By End User 6.3.5. By Region 7. India Hospital Based Diagnostic Labs Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Test Type 7.2.2. By Sector 7.2.3. By End User 8. India Stand Alone Diagnostic Labs Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Test Type 8.2.2. By Sector 8.2.3. By End User 9. India Diagnostic Chains Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 3 3 © TechSci Research

  4. Table of Contents S. No. Contents 9.2.1. By Test Type 9.2.2. By Sector 9.2.3. By End User 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends and Developments 12. Policy and Regulatory Landscape 13. State-Wise Number of NABH Accredited Laboratories 14. List of Diagnostic Laboratories Across India 14.1. Top 20 Labs across Tier-1 Cities 14.2. Top 10 Labs across Tier-2 Cities 14.3. Top 5 Labs across 60 Tier-3 Cities 15. India Economic Profile 16. Competitive Landscape Competition Outlook 16.1. 16.2. Company Profiles (Includes SWOT Analysis of Top 5 Players Profiled) 16.2.1. Dr. Lal PathLabs Limited 16.2.2. SRL Diagnostics Pvt Ltd. 16.2.3. Metropolis Healthcare Ltd. 16.2.4. Thyrocare Technologies Limited 16.2.5. Vijaya Diagnostic Centre Pvt. Ltd. 4 4 © TechSci Research

  5. Table of Contents S. No. Contents 16.2.6. Max Healthcare Institute Limited 16.2.7. Apollo Hospitals Enterprise Ltd. 16.2.8. Quest Diagnostics India Pvt Ltd 16.2.9. Lucid Medical Diagnostics Pvt Ltd 16.2.10. Suburban Diagnostics India Pvt Ltd. 16.2.11. Oncquest Laboratories Ltd. 16.2.12. Span Diagnostics Ltd. 16.2.13. Medinova Diagnostic Services Ltd. 16.2.14. Dr Lalchandani Labs Ltd. 16.2.15. Choksi Laboratories Ltd. 16.2.16. Suraksha Diagnostics Pvt. Ltd. 16.2.17. Medall Healthcare Pvt.Ltd. 16.2.18. Lotus Diagnostic Centre 16.2.19. Lifecare Diagnostic & Research Centre Pvt Ltd 16.2.20. 360 Diagnostic & Health Services Pvt. Ltd. 17. Strategic Recommendations 18. About Us & Disclaimer 5 5 © TechSci Research

  6. Service Overview

  7. Scope of Report Service of Interest (POI): Diagnostic Labs Diagnostic Labs refer to laboratories where tests are carried out on clinical specimens to obtain information about a patient's health to aid in diagnosing, treating and preventing diseases. Diagnostic tests are invasive and non-invasive in nature, where invasive diagnostic testing involves puncturing the skin or entering the body and non-invasive diagnostic testing does not involve making a break in the skin. Market Segmentation Year Range By Test Type Pathology By Provider Type Review Period • Stand Alone Diagnostic Labs • 2017 – 2020 Radiology • Hospital Based Diagnostic Labs • Diagnostic Chains • Base Year 2021 By End User By Region Estimated Year Referrals • North • 2022 Walk-ins • South • Forecast Period Corporate Clients • West • 2023 – 2027 East • 7 7 © TechSci Research

  8. Service Overview Diagnostic Labs refer to any facility which conducts certain radiological and pathological tests to diagnose, manage and treat a • disease or ailment. These labs can be hospital-based laboratories or stand-alone diagnostic labs. Hospital based laboratories include the labs within a hospital where tests are performed to diagnose a particular disease. These • also include laboratories attached to a hospital that perform the tests for the hospital. Stand Alone Diagnostic Labs are separate facilities other than hospital laboratories that conduct diagnostic tests and are • affiliated with the health care system. Diagnostic Chains are owned diagnostic centers with more than two Diagnostic centers. These operate through a hub-and-spoke • model of collection centers. The major diagnostic tests performed by diagnostic labs include pathology and radiology. Pathology tests include tests that help determine the cause and nature of diseases by testing samples of body tissues and body • fluids. Pathology tests help medical professionals to prevent, diagnose, manage and monitor conditions like allergies, infections, chronic diseases, and cancer. Pathology tests include tests like Blood Tests, Biopsies, Liver Function Tests, Thyroid Function Tests, Mantoux tests, Stool, and Urine tests. Radiology is a branch of medicine that uses imaging technology to diagnose and treat disease. Radiology is divided into two areas • which include diagnostic radiology and interventional radiology. Doctors who specialize in conducting radiology tests are called radiologists. There are different radiology test types, including Ultrasound, Color Doppler, X-Ray, MRI, Fluoroscopy, and Digital Mammography. Radiology test mainly deals with the part of cancer diagnosis and treatment. The different end users availing the services of a diagnostic lab include referrals, walk-ins, and corporate clients. The referrals are • those set of patients who have been referred by the doctors or have been asked by their doctors to get a particular diagnostic test done to diagnose and treat a disease or condition. The walk-ins refer to those sets of patients who are having a certain health problem, and they themselves go for a certain diagnostic test. This also includes the highly health-conscious people who go for regular health check-ups and diagnostic tests. The corporate clients include companies that get diagnostic tests done for their employees. 8 8 © TechSci Research

  9. Research Methodology

  10. Research Methodology Market Profiling Data Analysis Data Data Developing list of respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine the overall market size, segmental market size and top companies in the India Diagnostic Labs Market. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India Diagnostic Labs Market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and leading companies for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of leading companies and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 10 10 © TechSci Research

  11. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the India diagnostic labs market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rapidly increasing concerns over disease prevalence and requirement of early diagnosis and treatment, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the India Diagnostic Labs market. Methodology Followed For Calculation of Market Size: Market Size by Value : Market size, in terms of value, for the year 2021 was calculated based on information collected through • exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as India diagnostic labs companies, channel partners, end users, industry experts and other industry participants. The team interviewed 10 diagnostic labs companies, 100 end users and 10 industry experts and other value chain stakeholders in • the India diagnostic labs market to obtain the overall market size between 2017 and 2021, which was validated by the Delphi technique. Respondents were asked about the current and future market growth rates, market shares by provider type, by test type, by end • user, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and category wise revenue shares generated across various segments were considered to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated based on the response received from other stakeholders. 11 11 © TechSci Research

  12. Research Methodology Methodology Followed For Calculation of Market Shares: Market shares by provider type, by test type, by end user, by region and by company were calculated based on the responses • received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of the India Diagnostic Labs Market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey • results. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast the India Diagnostic Labs Market, TechSci Research used various forecast techniques such as: Moving Average ✓ Note: • (a) Sum of some shares may not be 100% due to round off till two decimal places. (b) The data given for any year represents the market during the period, i.e., 1st April of the previous year to 31st March of that year. eg: For 2022E, the data represents the period, 1st April 2021 to 31st March 2022. Please note that all the macro economic indicators in the economic profiles are for Calendar year. Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 12 12 © TechSci Research

  13. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions of India. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. The currency used in the report is the United States Dollar (with the market size indicated in USD million). Partial List of Companies Interviewed Key Secondary Sources Dr. Lal PathLabs Limited National Accreditation Board for Hospitals & Healthcare ▪ ▪ SRL Diagnostics Pvt Ltd. Providers ▪ Metropolis Healthcare Ltd. Indian Council of Medical Research (ICMR) ▪ ▪ Thyrocare Technologies Limited Association of Indian Laboratories (AOIL) ▪ ▪ Vijaya Diagnostic Centre Pvt. Ltd. Ministry of Health & Family Welfare ▪ ▪ Max Healthcare Institute Limited International Diabetes Federation ▪ ▪ Apollo Hospitals Enterprise Ltd. Office of the Registrar General & Census Commissioner, India ▪ ▪ Quest Diagnostics India Pvt Ltd Global Cancer Observatory (Globocan) ▪ ▪ Lucid Medical Diagnostics Pvt Ltd Worldometer ▪ ▪ Suburban Diagnostics India Pvt Ltd. World Health Organization ▪ ▪ Oncquest Laboratories Ltd. World Bank ▪ ▪ Span Diagnostics Ltd. TechSci Research Proprietary Database & Knowledge ▪ ▪ Medinova Diagnostic Services Ltd. Repository ▪ Dr Lalchandani Labs Ltd. Company Annual Reports ▪ ▪ Choksi Laboratories Ltd. Industry Magazines ▪ ▪ Suraksha Diagnostics Pvt. Ltd. Industry Reports ▪ ▪ Medall Healthcare Pvt.Ltd. Credible Paid Databases ▪ ▪ Lotus Diagnostic Centre ▪ Lifecare Diagnostic & Research Centre Pvt Ltd ▪ 360 Diagnostic & Health Services Pvt. Ltd. ▪ 13 13 © TechSci Research

  14. Industry Brief Increase in communicable and non-communicable diseases to drive the India diagnostic labs market through 2027. According to TechSci Research report, “India Diagnostic Labs Market – By Region Competition Forecast & Opportunities, 2017-2027,” the India diagnostic labs market stood at USD12319.32 million in 2021 and is expected to grow at a CAGR of 11.65% during the forecast period. This can be ascribed to an increase in demand for early disease diagnosis and the identification of root causes as soon as possible in order to acquire the suitable and best therapy. The Indian government is constantly working to deliver world-class healthcare and patient care to its residents, which will drive the India diagnostic labs market forward throughout the forecast period. India has a universal healthcare system that includes health promotion, prevention, treatment, rehabilitation, and palliative care, among other services. Ayushman Bharat Yojana is a type of health insurance that emphasizes the requirement of non-discriminatory usage of healthcare services and facilities. The Indian government is aiming to expand universal health coverage and enhance basic health care across the country. As a result, the diagnostic labs industry in the country is anticipated to grow. The shortage of qualified specialists performing lab tests necessitates the use of well-trained people. Individuals with a thorough understanding of microbiology and immunology and who excel at completing tests and handling microbiological equipment and chemical reagents are ideal candidates for diagnostic lab work. However, there is a deficit of such personnel throughout India, affecting the expansion of the industry. However, various major hospitals and centers in India are constantly working to improve the healthcare and diagnostics sector of the country by increasing their reach and helping outpatients by the provision of quality services without affecting the pockets of the average users of services in the country and initiatives of the Government of India is laying a helping hand in the same. The India diagnostic labs market is segmented based on provider type, test type, sector, end user, region, states and company. The market can be distributed into Stand Alone Diagnostic Labs, Hospital Based Diagnostic Labs, Diagnostic Chains in terms of provider type. In 2021, the Stand Alone Diagnostic Labs segment headed the market with a share of around 43.70%, and this dominance is expected to remain the same throughout the forecast period. This is due to the fact that India has Ayushman Bharat Yojana, which implies that all citizens in the country have cheap access to all healthcare services. Furthermore, based on region, the major segment is covered by Northern India, including most of the smart cities and developing cities of the country. As a result, they are improving healthcare access for up to 500 million individuals in India's poorest and most remote areas. On the basis of test type, the market is divided into pathology and radiology. The pathology category is expected to dominate the market through 2027 as people become more health concerned. People are becoming more health-conscious, which has resulted in an increase in the number of people seeking regular medical examinations. Pathology tests account for the majority of the testing in these health checks, which are performed for a variety of illnesses. Pathology tests are the first tests carried out whenever a disease or illness is suspected, and they are repeated on a regular basis even after a problem has been identified. Based on End User, the market is segmented into referrals, walk-ins, and corporate clients. Corporate penetration is expanding and so are worried about employee welfare and health. As a result, corporates will contribute to the growth of the India diagnostic labs market. Major corporations partner with diagnostic service providers and require their employees to undergo various health screenings. As a result of the increased demand from the corporate sector, diagnostic labs will expand across the country. Additionally, due to increased healthcare awareness and the availability of discounts and offers by large corporations for getting diagnostic tests done on specific occasions like women's day, AIDS day, cancer day, and so on, the number of walk-in consumers is also increasing. Key market players in the India Diagnostic Labs Market include Dr. Lal PathLabs Limited, SRL Diagnostics Pvt Ltd., Metropolis Healthcare Ltd., Thyrocare Technologies Limited, Vijaya Diagnostic Centre Pvt. Ltd., Max Healthcare Institute Limited, Apollo Hospitals Enterprise Ltd., Quest Diagnostics India Pvt Ltd., Lucid Medical Diagnostics Pvt Ltd, Suburban Diagnostics India Pvt Ltd., Oncquest Laboratories Ltd., Span Diagnostics Ltd., Medinova Diagnostic Services Ltd., Dr Lalchandani Labs Ltd., Choksi Laboratories Ltd., Suraksha Diagnostics Pvt. Ltd., Medall Healthcare Pvt.Ltd., Lotus Diagnostic Centre, Lifecare Diagnostic & Research Centre Pvt Ltd., 360 Diagnostic & Health Services Pvt. Ltd. The India diagnostic labs market is a fragmented market, with most stakes held by standalone diagnostic labs. However, diagnostic chains are growing and also hold the majority of shares in the overall market. Dr. Lal PathLabs Limited holds the highest market share and is among the top five market players. SRL Diagnostics Pvt Ltd. ranks second in terms of market share in the overall India Diagnostic Labs Market. Other prominent companies operating in the market include Metropolis Healthcare Ltd., Thyrocare Technologies Limited, Vijaya Diagnostic Centre Pvt. Ltd., etc. Several market players are employing methods such as mergers and acquisitions, collaborations, and the provision of additional services, among others, to stay competitive and gain an advantage over their competitors. “The Western region of the country is expected to register the fastest CAGR during the forecast period. This is due to the region's increasing number of hospitals and standalone diagnostic labs. Additionally, the market growth is likely to be supported by supportive government policies and healthcare initiatives introduced in the western area. Different mergers and acquisitions in the private sector of diagnostics are contributing to the development of the future market of the industry”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 14 © TechSci Research

  15. Sample Data - Snapshot India Diagnostic Labs Market Size, By Value (USD Million), 2017-2027F CAGR 2022E-2027F By Value: xx% CAGR 2017-2021 By Value: xx% 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Value (USD Million) India Diagnostic Labs Market Share, By Provider Type, By Value, 2017-2027F 2017 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Hospital Based Diagnostic Labs 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Diagnostic Chains 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Stand Alone Diagnostic Labs India Hospital Based Diagnostic Labs Market Share, By End User, By Value, 2017-2027F 2017 20.00% 30.00% 2018 20.00% 30.00% 50.00% 2019 20.00% 30.00% 50.00% 2020 20.00% 30.00% 50.00% 2021 20.00% 30.00% 50.00% 2022E 20.00% 30.00% 50.00% 2023F 20.00% 30.00% 50.00% 2024F 20.00% 30.00% 50.00% 2025F 20.00% 30.00% 50.00% 2026F 20.00% 30.00% 50.00% 2027F 20.00% 30.00% 50.00% Referrals Walk-ins Corporate Clients 50.00% 15 © TechSci Research

  16. Report Ordering Report Name: India Diagnostic Labs Market FORECAST AND OPPORTUNITIES 2017 – 2027 License Type Single User License Price $3500 Multi-User License Custom Research License $4500 $7500 To View Sample OR Purchase Report 16 © TechSci Research

  17. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high- quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports India Hospital Market, By Ownership (Public, Private, PPP), By Type (General, Multi- Speciality Hospitals, Specialty), By Bed Capacity (Up to 100 beds, 101-300beds, 301-700 Beds, Above 700 Beds), By Regionality (Regional/District, Rural, Others), By Type of Services (In-patient Services v/s Out- patient Services), By Region, Competition Forecast & Opportunities, FY2027 • India Diagnostic Imaging Market, By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Component (OEM v/s Refurbished), By Region, Forecast & Opportunities, FY2026 • TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

More Related