India Diagnostic Labs Market By Provider Type (Stand-Alone Labs, Hospital Labs, Diagnostic Chains), By Test Type (Pathology v/s Radiology), By Sector (Urban v/s Rural), By End User (Referrals, Walk-ins, Corporate Clients), By Region, Competition Forecast & Opportunities, FY2027

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. The Indian government is constantly attempting to offer its inhabitants world-class healthcare and patient care services, which will boost the growth of the India diagnostic labs market in the upcoming five years. The government will continue to invest in Ayushman Bharat Yojana in order to provide insurance to the Indian population. By 2027, India wants to provide health insurance to a major section of its population. As diagnostic chains and insurance coverage expand, clinical lab testing will become more common. The government will continue to prioritize the prevention of noncommunicable diseases (NCDs) such as cancer. Hospitals will establish satellite departments to relieve the pressure of congestion. Primary care clinics in India are boosting their clinical testing capacity by updating equipment and expanding testing options while leveraging their network of chain clinics to serve a larger consumer base. In addition, lifestyle challenges, poor dietary habits, and communicable diseases all contribute to India's large patient population. Long working hours, poor eating habits, and a lack of physical activity contribute to the growth in the incidence of lifestyle disorders like diabetes, obesity, and hypertension. Over the next five years, India's diagnostic labs market is predicted to grow due to the increasing prevalence of various ailments.

Sudden Outbreak & Spread of COVID-19 Driving Market Growth

Due to the rising number of COVID-19 cases in the country and the government's repeated requests for people to get tested, many stand-alone diagnostic centers, hospital-based diagnostic labs, and diagnostic chains received approval and accreditation to conduct COVID-19 tests. The imposition of lockdown, combined with a rise in COVID-19 cases, resulted in an increase in COVID-19 tests performed by diagnostic labs. Due to an increase in load from COVID-19 testing or a drop in demand for other types of diagnostic tests, several labs have discontinued performing other diagnostic procedures. During the first wave of COVID-19, diagnostic labs were forced to provide home sample collection services due to an increase in the number of cases and people arriving at the labs. Aside from diagnostic chains, a growing number of hospital-based diagnostic labs and stand alone diagnostic clinics have begun to offer home sample collecting services.

Development of Healthcare Infrastructure Supporting Market Growth

The growing healthcare expenditure in order to improve the existing healthcare infrastructure in the country will lead to the establishment of various new hospitals and diagnostic labs across the country. In addition, the Indian government is continually investing in the infrastructure of existing hospitals. For example, on March 26th, 2022, the Delhi government stated that it would upgrade 15 hospitals and construct 4 new hospital facilities in the city. As a result, the rise of hospital-based diagnostic labs and the overall diagnostic labs market in the country is likely to be lucrative.

Increasing Prevalence of Diseases will Support Market Growth

The growing incidences of various communicable and non-communicable diseases such as cancer, cardiovascular disease, gastrointestinal disorders, renal disorders, and urological difficulties has resulted in a large increase in the need for these diseases' diagnosis and treatments. As a result, the growth of the India diagnostic labs market is predicted to be boosted. According to Globocan, approximately 1,324,413 new cancer cases were recorded in India in 2020, with 646,030 men and 678,383 females being reported. Similarly, as of March 28th, 2022, India conducted roughly 787,355,354 COVID-19 tests. All of these tests are only performed in diagnostic laboratories, which helps the industry grow.

Special Discounts and Packages Supporting Growth of Diagnostic Labs Market

Different diagnostic labs spread across the country have started offering lucrative discounts & offers in order to attract the population to get them diagnosed for different diseases. These offers and packages increase on the occasion of important days such as breast cancer awareness week, AIDS day, cancer day, among others. As a result, the substantial potential for expanding the diagnostic labs market in India is foreseen. Large diagnostic chains, like Dr. Lal PathLabs, also provide special packages like Pregnancy Packages, Diabetes Care Packages, and Swasthfit Packages. Senior citizens might receive up to a 10% discount from the company. The company also sells gift cards that may be used to gain discounts on certain testing.

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Market Segmentation

The India diagnostic labs market segmentation is based on provider type, test type, end user, competitional landscape, and regional distribution. Based on provider type, the market is segmented into Stand Alone Diagnostic Labs, Hospital Based Diagnostic Labs, Diagnostic Chains. Market segmentation depending on test type is distinguished between pathology and radiology. Based on end user, the market is divided into referrals, walk-ins, and corporate clients. The market analysis also studies the regional segmentation, divided among Northern region, Eastern region, Southern region and Western region. The Northern region dominated the market in 2021 with an overall market share of 30.20% on account of surging COVID-19 cases in the region which created a huge demand for testing across diagnostic labs in the region.

Company Profiles

Dr. Lal PathLabs Limited, Metropolis Healthcare Ltd., SRL Diagnostics Pvt Ltd., Thyrocare Technologies Limited, Vijay Diagnostics 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. among others is a list of major market competitors are responsible for the growth of India Diagnostic Labs market.

Report Scope:

In this report, India Diagnostic Labs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• India Diagnostic Labs Market, By Provider Type:
• Stand Alone Diagnostic Labs
• Hospital Based Diagnostic Labs
• Diagnostic Chains
• India Diagnostic Labs Market, By Test Type:
• Pathology
• Radiology
• India Diagnostic Labs Market, By End User:
• Referrals
• Walk-ins
• Corporate Clients
• India Diagnostic Labs Market, By Region:
• Northern
• Southern
• Eastern
• Western

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Diagnostic Labs market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).