India Diagnostic Labs Market Size, Share, Trend and Forecast 2027 | TechSci Research

1
FY2017 FY2027
INDIA DIAGNOSTIC LABS MARKET FORECAST
OPPORTUNITIES
www.techsciresearch.com
MARKET INTELLIGENCE . CONSULTING
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• Scope of Report
• Product of Interest (POI) Diagnostic Labs

Diagnostic lab can help determine a diagnosis,
plan treatment, check to see if treatment is
working, or monitor the disease over time through
medical tests. A medical test is a medical
procedure performed to detect, diagnose, or
monitor diseases, disease processes,
susceptibility, or to determine a course of
treatment. Based on provider type, diagnostic
type can be standalone labs, hospital lab,
diagnostic labs.
REGION
PROVIDER TYPE

• North
• East
• West
• South

• Stand-Alone Labs
• Hospital Labs
• Diagnostic Chains

TEST TYPE
END USER

• Pathology
• Radiology

• Referrals
• Walk-ins
• Corporate Clients

SECTOR

• Urban
• Rural

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• Table of Contents

S. No. Contents Contents Contents Page No.
1. Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)
2. Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.) Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.) Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.)
3. Impact of COVID-19 on India Diagnostic Labs Market Impact of COVID-19 on India Diagnostic Labs Market Impact of COVID-19 on India Diagnostic Labs Market
4. Executive Summary (This chapter covers summary of the complete study.) Executive Summary (This chapter covers summary of the complete study.) Executive Summary (This chapter covers summary of the complete study.)
5. Voice of Customer Voice of Customer Voice of Customer
5.1. Brand Awareness Brand Awareness
5.2. Factors Affecting Choice of Diagnostic Laboratory Factors Affecting Choice of Diagnostic Laboratory
5.3. Preference Among Population, By Provider Type Preference Among Population, By Provider Type
6. India Diagnostic Labs Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total markets growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) India Diagnostic Labs Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total markets growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) India Diagnostic Labs Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total markets growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)
6.1. Market Size Forecast(This chapter would include the market size i.e., the revenue generated from the India Diagnostic Labs market in one year. In this case, the market size will be provided in value terms for historic period (FY2017-FY2020) current/base year (FY2021) estimated year (FY2022E) and forecast (FY2023-FY2027)) Market Size Forecast(This chapter would include the market size i.e., the revenue generated from the India Diagnostic Labs market in one year. In this case, the market size will be provided in value terms for historic period (FY2017-FY2020) current/base year (FY2021) estimated year (FY2022E) and forecast (FY2023-FY2027))
6.1.1. By Value (USD Million)
6.2. Market Share Forecast (The overall product of interest bifurcated/split among various segments. ) Market Share Forecast (The overall product of interest bifurcated/split among various segments. )
6.2.1. By Provider Type (Stand-Alone Labs, Hospital Labs, Diagnostic Chains)
6.2.2. By Test Type (Pathology v/s Radiology)
6.2.3. By Sector (Urban v/s Rural)
6.2.4. By End User (Referrals, Walk-ins, Corporate Clients)
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• Table of Contents

S. No. Contents Contents Contents Contents Page No.
6.2.5. By Region By Region
6.2.5.1. By State (Top 3 States)
6.2.6. By Company (FY2021) By Company (FY2021)
6.3. Product Market Map Product Market Map Product Market Map
7 . India Stand-Alone Diagnostic Labs Market Outlook, FY2017-FY2027F India Stand-Alone Diagnostic Labs Market Outlook, FY2017-FY2027F India Stand-Alone Diagnostic Labs Market Outlook, FY2017-FY2027F India Stand-Alone Diagnostic Labs Market Outlook, FY2017-FY2027F
7.1. Market Size Forecast Market Size Forecast Market Size Forecast
7.1.1. By Value By Value
7.2. Market Share Forecast Market Share Forecast Market Share Forecast
7.2.1. By Provider Type By Provider Type
7.2.2. By Test Type By Test Type
7.2.3. By Sector By Sector
7.2.4. By End User By End User
8. India Hospital Diagnostic Labs Market Outlook, FY2017-FY2027F India Hospital Diagnostic Labs Market Outlook, FY2017-FY2027F India Hospital Diagnostic Labs Market Outlook, FY2017-FY2027F India Hospital Diagnostic Labs Market Outlook, FY2017-FY2027F
8.1. Market Size Forecast Market Size Forecast Market Size Forecast
8.1.1. By Value By Value
8.2. Market Share Forecast Market Share Forecast Market Share Forecast
8.2.1. By Provider Type By Provider Type
8.2.2. By Test Type By Test Type
8.2.3. By Sector By Sector
8.2.4. By End User By End User
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• Table of Contents

S. No. Contents Contents Contents Page No.
9. India Diagnostic Chains Market Outlook, FY2017-FY2027F India Diagnostic Chains Market Outlook, FY2017-FY2027F India Diagnostic Chains Market Outlook, FY2017-FY2027F
9.1. Market Size Forecast Market Size Forecast
9.1.1. By Value
9.2. Market Share Forecast Market Share Forecast
9.2.1. By Provider Type
9.2.2. By Test Type
9.2.3. By Sector
9.2.4. By End User
10. Market Dynamics Market Dynamics Market Dynamics
10.1. Drivers Drivers
10.2. Challenges Challenges
11. Market Trends Developments Market Trends Developments Market Trends Developments
12. Policy Regulatory Landscape Policy Regulatory Landscape Policy Regulatory Landscape
13. State-Wise Number of NABH Accredited Laboratories State-Wise Number of NABH Accredited Laboratories State-Wise Number of NABH Accredited Laboratories
14. List of Diagnostic Laboratories Across India List of Diagnostic Laboratories Across India List of Diagnostic Laboratories Across India
14.1. Top 20 Labs across Tier-1 Cities Top 20 Labs across Tier-1 Cities
14.2. Top 10 Labs across Tier-2 Cities Top 10 Labs across Tier-2 Cities
14.3. Top 5 Labs across 60 Tier-3 Cities Top 5 Labs across 60 Tier-3 Cities
15. India Economic Profile India Economic Profile India Economic Profile
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• Table of Contents

S. No. Contents Contents Contents Page No.
16. Competitive Landscape Competitive Landscape Competitive Landscape
16.1. Competition Outlook Competition Outlook
16.2. Company Profiles (Includes SWOT Analysis) Company Profiles (Includes SWOT Analysis)
16.2.1. Company Details
16.2.2. Products Services
16.2.3. Financials (As Reported)
16.2.4. Key Market Focus Geographical Presence
16.2.5. Recent Developments
16.2.6. Key Management Personnel
17. Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share) Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share) Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share)
18. About Us Disclaimer About Us Disclaimer About Us Disclaimer
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RESEARCH METHODOLOGY
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• Research Methodology

Market Profiling
Data Analysis
Data Collection
Data Validation
Developing List of Respondents
Formulating Questionnaire
In-depth secondary research was conducted to
determine top players in India diagnostic labs
market, overall market size and segmental market
size.
The data was scrutinized using MS-Excel,
statistical tools and internal proprietary
database to obtain qualitative and quantitative
insights about 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 industry players for data collection
and verification.
In order to conduct industry experts interviews,
TechSci formulated a detailed discussion guide.
List of industry players and industry specialists
was developed.
Primary Research
Desk Research
Company Analysis

• Recent Developments
• Market Changing Aspects/Dynamics
• Government Policies
• Conclusion

• Market Participants
• Key Strengths

• Identifying Key Opinion Leaders
• Questionnaire Design
• In-depth Interviews

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• Research Methodology

• Baseline Methodology
• Our dedicated team of industry experts has
  monitored and analyzed various aspects of India
  diagnostic labs market. The team has analyzed the
  outlook of various segments of this market, while
  considering the major influencing factors such as
  growing population in the country, which is
  susceptible to various diseases. The study
  includes market forecasting, which would enable
  our clients to take better decisions while
  planning their strategy to achieve sustainability
  in India diagnostic labs market.
• Methodology Followed for Calculation of Market
  Size
• Market Size by Value Market size, in terms of
  value, for the year FY2021 was calculated based
  on information collected through exhaustive
  secondary research and primary surveys, with
  various key opinion leaders/stakeholders, such as
  hospital, pharmacies, diagnostic labs/clinics,
  ambulatory surgical centers, channel partners,
  end-user industry experts, and other industry
  participants.
• The team interviewed more than 15-20 diagnostic
  labs market companies, 100 120 end use
  industries, and 15 20 industry experts and
  other value chain stakeholders in India
  diagnostic labs market to obtain the overall
  market size for FY2017-FY2021, which was
  validated by the Delphi technique. Taking
  standard deviation into consideration, the market
  size was averaged out, to arrive at the market
  size data for FY2017-FY2021.
• Respondents were asked about the current and
  future market growth rates, market shares by
  provider type, by test type, by sector, by end
  user, by region and by company. Removing the
  outlier responses, the geometric mean of growth
  estimates and provider 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 from other
  stakeholders.

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• Research Methodology

• Methodology Followed for Calculation of Market
  Shares
• Market shares by provider type, by test type, by
  sector, 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 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 in
  SPSS/Tableau Software.
• Data triangulation techniques were applied to
  fill the gaps and to present a more meaningful
  picture of the market. To forecast India
  diagnostic labs market, TechSci Research used
  various forecast techniques such as
• Moving Average
• Time Series Analysis
• Regression Analysis
• Econometric and Judgmental Analysis

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• Research Methodology

TechSci Research used its own forecast tool,
which is based on the growth of various allied
industries in respective regions. TechSci
Research also used the impact analysis during
short, medium and long term period to estimate
the demand and to reach accurate market numbers.
It should be noted that the figures compiled are
only for the organized market including market
share data.
Partial List of Companies Interviewed Key Secondary Types
Dr. Lal PathLabs Limited Metropolis Healthcare Ltd. SRL Diagnostics Pvt Ltd. Thyrocare Technologies Limited 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. Vijaya Diagnostic Centre Pvt. 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. World Bank TechSci Research Proprietary Database Knowledge Repository Company Annual Reports Industry Magazines Industry Reports News Dailies Credible Paid Databases
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Industry Brief
According to TechSci Research report, 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,
FY2027F, the India diagnostic labs market stood
at USD12319.32 million in FY2021 and is expected
to grow at an impressive CAGR of 12.25 during
the forecast period on account of the growing
prevalence of several chronic and lifestyle
associated diseases such as cancer, diabetes,
cardiovascular diseases, gastrointestinal
diseases, among others. This in turn has
significantly increased the patient pool who
require on time diagnosis and treatment.
Furthermore, the Indian government is supporting
the digitization of the healthcare sector which
is improving the results of diagnostics chains as
it reduces the chances of human error and the
logistics process. Additionally, the launch of
initiatives like Ayushmann Bharat which aims to
provide free healthcare facilities to people is
aiding in increasing the affordability of people
to avail the diagnostic services. However, high
costs of diagnostic tests can hamper the market
growth during the forecast period. Also,
discrepancies observed across the test being
conducted by different laboratories can further
restrict the market growth over the next few
years. However, due to lack of regulations for
entering into the diagnostic lab market may pose
a challenge for the market growth. India
diagnostic labs market is segmented into provider
type, test type, sector, end user, regional
distribution, and company. Based on provider
type, the market can be categorized into
stand-alone labs, hospital labs and diagnostic
chains. The stand-alone labs segment dominated
the market in 2020 with a share of around 45.70
in FY2021 on account of their strong presence
across tier-1, tier-2, and tier-3 cities across
the country. While the diagnostic chains segment
is expected to register the fastest growth due to
the growing penetration of several diagnostic
chains across the country and expansion of
already present diagnostic chains in the tier-1
and tier-2 cities. Based on end user, the market
can be fragmented into referrals, walk-ins, and
corporate clients. The referrals segment is
expected to dominate the market on account of the
fact that most people in the country are getting
themselves tested on a doctors suggestion only.
Regionally, North India is expected to dominate
the India diagnostic labs market on account of
the highest number of NABL accredited labs in the
region. Additionally, increasing disease
prevalence especially in states of Uttar Pradesh,
Delhi, Haryana, Punjab, among others is further
expected to spur the market growth in the region.
Also, diagnostic chains are strongly penetrating
in the Norther Region. 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. and others are some of the leading
players operating in India diagnostic labs
market. The India diagnostic labs market is
highly fragmented with a lot of stand alone labs,
hospital labs and emerging diagnostic chains.
However, major market is occupied by the stand
alone labs. India diagnostic labs market is
expected to witness significant growth during the
forecast period on account of the growing
infrastructural developments across the
healthcare industry. A lot of new hospitals
construction and diagnostic labs emergence can be
observed in the next few years. Besides,
increasing health insurance penetration across
the country is further expected to support the
market growth, said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based
global management consulting firm.
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Sample Data - Snapshot
India Diagnostic Labs Market Size, By Value (USD
Million), FY2017-FY2027F
India Diagnostic Labs Market Share, By Provider
Type, By Value, FY2017FY2027F
India Stand-Alone Diagnostic Labs Market Share,
By Test Type, By Value, FY2017FY2027F
India Stand-Alone Diagnostic Labs Market Share,
By Sector, By Value, FY2017FY2027F
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Report Name INDIA DIAGNOSTIC LABS MARKET
FORECAST OPPORTUNITIES FY2017 FY2027
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forecasting Modes use various analyses of both
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a state-by-state basis to produce a unique
bottom-up Mode 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
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