Summary

India diagnostic labs market is expected to grow at a CAGR of 11.65% in the forecast period, 2023-2027, to reach USD25667.21 million by 2027. The increasing prevalence of various chronic and lifestyle-related diseases and a large old age population in the country are driving the demand for the India diagnostic labs market. Also, the rise in the awareness of the benefits of preventive healthcare practices and early disease detection and advanced technologies and equipment in diagnostic labs are the other two major factors accelerating the demand for the India diagnostic labs market for the next five years.
The government is allocating huge funds for the development of the healthcare industry. They are working on making India a world-class healthcare infrastructure and providing access to all of its citizens. The rise in consumer awareness and the growing healthcare expenditure accelerates the demand for accurate tests and services across the country. The large number of geriatric populations in the country who are vulnerable to getting affected by a number of diseases is driving the demand for the construction of diagnostic labs. Multi-national companies and corporates are partnering with local diagnostic labs and chains, improving the quality of services offered to patients, and the growing efforts to make India a medical tourism destination by the government authorities are expected to boost the demand for India diagnostic labs market for the next five years.
The India diagnostic labs market is segmented into provider type, test type, sector, end user, competitive landscape, and regional distribution. Based on provider type, the market is segmented into stand alone diagnostic labs, hospital based diagnostic labs, diagnostic chains. The stand alone diagnostic labs dominated the market in 2021 with a market share of 43.70% and are expected to maintain their dominance for the next five years. India boasts of a large number of diagnostics labs and chains to cater to the needs of the growing population, thereby driving the segment's demand.
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 is the major market player operating in the India diagnostic labs market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
• To analyze the historical growth of the market size of India diagnostic labs market from 2017 to 2021.
• To estimate and forecast the market size of India diagnostic labs market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast India diagnostic labs market based on provider type, test type, sector, end user, competitive landscape, and regional distribution.
• To identify dominant region or segment in the India diagnostic labs market.
• To identify drivers and challenges for India diagnostic labs market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India diagnostic labs market.
• To identify and analyze the profile of leading players operating in India diagnostic labs market.
• To identify key sustainable strategies adopted by market players in India diagnostic labs market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of diagnostic labs service provider companies across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.
TechSci Research calculated the India diagnostic labs market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
• Diagnostic lab service provider companies/partners
• End-Users
• Government bodies such as regulating authorities and policy makers
• Organizations, industry associations, forums and alliances related to diagnostic labs
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as diagnostic labs service provider companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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:
o Stand Alone Diagnostic Labs
o Hospital Based Diagnostic Labs
o Diagnostic Chains
• India Diagnostic Labs Market, By Test Type:
o Pathology
o Radiology
• India Diagnostic Labs Market, By Sector:
o Urban
o Rural
• India Diagnostic Labs Market, By End User:
o Referrals
o Walk-ins
o Corporate Clients
• India Diagnostic Labs Market, By Region:
o Northern
o Southern
o Eastern
o 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).

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