Dublin, May 17, 2022 (GLOBE NEWSWIRE) -- The "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, 2027" report has been added to ResearchAndMarkets.com's offering.
The Indian 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 Indian 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 Indian 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 the Indian Diagnostic Labs Market for the next five years.
The Indian 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.
Objective of the Study:
- To analyze the historical growth of the market size of the Indian Diagnostic Labs Market from 2017 to 2021.
- To estimate and forecast the market size of the Indian Diagnostic Labs Market from 2022 to 2027 and growth rate until 2027.
- To classify and forecast the Indian 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 Indian Diagnostic Labs Market.
- To identify drivers and challenges for the Indian Diagnostic Labs Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Diagnostic Labs Market.
- To identify and analyze the profile of leading players operating in the Indian Diagnostic Labs Market.
- To identify key sustainable strategies adopted by the market players in the Indian Diagnostic Labs Market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Diagnostic Labs Market.
- 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
- Diagnostic & Health Services Pvt. Ltd.
Report Scope:
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
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 Sector:
- Urban
- Rural
India Diagnostic Labs Market, By End-User:
- Referrals
- Walk-ins
- Corporate Clients
India Diagnostic Labs Market, By Region:
- Northern
- Southern
- Eastern
- Western
For more information about this report visit https://www.researchandmarkets.com/r/ul45ed
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