India Diagnostics Market: By Type (Immunodiagnostics, Clinical Chemistry, Tissue Diagnostics, Haematology, Point of Care Tests, Molecular Diagnostics and Others), By Product Type (Instruments/Analysers and Reagents & Kits), By Application (Infectious Disease, Oncology, Hormone, Diabetes, Cardiac and Others), By End User (Diagnostic Chains, Individual Diagnostic Laboratories, Hospital Laboratories and Others) and Country    

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India Diagnostics Market was valued at USD 1,928.7 Million in 2022 and is projected to reach USD 6,347.9 Million by 2029 owing to a rise in healthcare awareness, increase in preventive healthcare check-ups, prevalence of cancer diseases, infectious diseases, and increase in health insurance penetration. Many other potential factors are expected to drive the market over the forecast period. The Indian Diagnostics Market is projected to grow at a CAGR of 18.5% over the forecast period 2023-2029. Rising awareness of communicable and non-communicable diseases among the population and subsequent preventive/treatment measures by regular monitoring of health with frequent check-ups under physician guidance is also a significant factor to drive the diagnostics market over the forecast period. The major restraints of the India Diagnostics market are paying the diagnosis tests cost out of pocket, low penetration into Tier 2, 3, and health insurance providers not covering the cost of diagnosis, which is one of the key factors restraining the market. 

India Diagnostics Market

Sick care accounts have a major market share in the India Diagnostics market followed by Preventive Wellness. However, post-pandemic preventive wellness has surged owing to awareness among consumers, home collection, discounted prices, and online reporting. Health insurance companies are reimbursing the cost of preventive wellness tests based on the policy coverage to encourage consumers for early diagnoses of diseases. 

India's Diagnostics market is highly fragmented, and most diagnostic tests take place in the metro and tier 1 cities like Mumbai, Pune, Delhi, Chennai, Hyderabad, and Bangalore. Urban Diagnostics dominates the market in India, and rural diagnostics accounts to have 22% market share. The top three diagnostic chains account to have around 52% market share. Dr. Lal Pathlabs, SRL, and Metropolis are India's top three market players. For example, Dr. Lal Pathlabs processed more than 66 million samples in 2022, and Metropolis processed 26 Million. Individual/Standalone diagnostic laboratories have a 41% market share, followed by hospital laboratories and diagnostic chains.

Post-COVID-19, various market players forayed into the India Diagnostics market due to low entry barriers, capital investments, and a large population pool. In 2022, Medplus Health Services Limited, a pharmacy chain, launched diagnostic and radiology services, offering a 75% discount on every test. Currently, the pricing of tests has become very competitive due to the entry of new players and online companies. PBI anticipates that the margins are shrinking. Companies with strong financials are going to survive in the market, and consolidation of companies will take place in the near future.

India Diagnostics Market Key Developments:
  • In March 2022, Trivitron Healthcare acquires US-based medical devices firm Kennedy Company. The acquisition will allow the Chennai-based Trivitron to get a 7 acres campus with 25,000 square feet of production space in Scottsboro, Alabama.

  • In Dec. 8, 2021, Thermo Fisher Scientific Inc. announced that it has completed its acquisition of PPD, Inc. a leading global provider of clinical research services to the biopharma and biotech industry, for $17.4 billion.

India Diagnostics Market Dynamics

Government initiatives toward public health awareness programs, frequent rural camps for healthcare services, and free medical support for people who don’t have access to medical check-ups are also considerable factors driving the overall healthcare industry in India. Investments from private companies in healthcare industries and public and private companies projects to raise awareness of public health and wellness programs in recent periods in India are also a few significant factors expected to drive the India diagnostics market over the forecast period. Imports from other countries act as a growth restraint in the worldwide India diagnostics market. India diagnostics market is highly fragmented and unorganized due to the lack of regulations.

India Diagnostics Market Segmentation

By Type
  • Immunodiagnostics
  • Clinical Chemistry
  • Tissue Diagnostics
  • Haematology
  • Point of Care Tests
  • Molecular Diagnostics
  • Others
By Product Type
  • Instruments/Analysers
  • Reagents and Kits
By Application
  • Infectious Disease
  • Oncology
  • Hormone
  • Diabetes
  • Cardiac
  • Others
By End User
  • Diagnostic Chains
  • Individual Diagnostic Laboratories
  • Hospital Laboratories
  • Others

Frequently Asked Questions

The India Diagnostics Market is projected to expand at a CAGR of 16.3% during the forecast period.

The India Diagnostics Market Key players are Roche Diagnostics India Private Limited, Siemens Ltd. (Siemens Healthineers India), Becton Dickinson India Pvt Ltd, Beckman Coulter India Private Limited, Abbott India, Transasia Bio-Medicals Limited, Tulip Diagnostics Pvt Ltd, Trivitron Healthcare Pvt Ltd, Agappe Diagnostics Limited and Accurex Biomedical Pvt Ltd.

Increase in the incidence of infectious diseases and other chronic diseases such as cancer and diabetes coupled with the development and launch of novel test kits are propel the growth of the market

The India Diagnostics Market size was valued at USD 1,928.7 Million in 2022

Key Features of the Reports

  • The India diagnostics market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • Roche Diagnostics India Private Limited
  • Siemens Ltd. (Siemens Healthineers India)
  • Becton Dickinson India Pvt Ltd
  • Beckman Coulter India Private Limited
  • Abbott India
  • Transasia Bio-Medicals Limited
  • Tulip Diagnostics Pvt Ltd
  • Trivitron Healthcare Pvt Ltd
  • Agappe Diagnostics Limited
  • Accurex Biomedical Pvt Ltd

Adjacent Markets