As technology advancements are moving ahead with great pace across all spheres, the Indian healthcare industry is also stirring by a number of factors over time. Embracing the right resources, this industry is developing at an exponential rate. It has now reached a place, where the medical field is adapting the changes occurring in the diagnostic industry and constantly innovating and upgrading their mechanics. This industry is emerging as a prominent game changer in the healthcare sector. The emerging trends in the Indian Diagnostic Industry are empowering the mankind with improved quality of services.
The recent spike in the pace of such tech-enabled trends is taking the diagnostics industry a notch higher and helping it to stand tall at an interesting juncture. Aiming to be an integral part of the healthcare space, bulky and expensive diagnostic equipments are taking the shape of tiny (nano) curated machineries. With the easy access to internet like never before, tele-diagnostics is sculpting itself in an interestingly progressive and transformative way. This can help humans to perform tests at home and even consult the doctors for treatment globally.
Let’s get more insights about the changing diagnostic domain that is on a verge to transform the Indian healthcare industry.
The Significant Development – Preventive Healthcare
Gone are those days, where labs were generally looked upon as a province to detect and diagnose health conditions. Today, humans lead a modern lifestyle and are aware of the periodic preventive healthcare check-ups to detect signs early. This awareness and inclination to monitor health has empowered the existing as well as emerging organizations to roll out swift moves and give a new lease of life to the people through preventive healthcare. Recent advancements in the preventive healthcare, guide people to know their numbers, health indicators, vital signs and help preparing to take precautions accordingly. Innovating cost-effective solutions, this preventive healthcare is a boon to the mother earth.
Enhanced Online Experience
Over the years, the internet has grown into an extraordinary experience. The advent of tech-enabled trends has brought in the concept of electronic health or medical record through digitization, saving cost and avoiding repetitive testing. Currently, the diagnostic laboratories are going an extra mile and extending their services to the online platform. Logging in and scheduling a time visit has become easy leading to a connection of comfort where people can collect their reports through mail or an online portal. The convenience of online diagnostics can save time, getting the sample collected at their convenient time and place. These cloud-based services save the agony of traveling and waiting at a laboratory, especially in terms of illness. It is emerging as a bonus point for patients who require regular laboratory tests, for instance people with diabetes.
Solving the Fragmented Puzzle
Indian diagnostic market consists of various standalone laboratories, of which very few function in a corporate style with a brand presence and branches spread across. People have become more curious about quality reports along with its accuracy. To take customer engagements to a new level and to earn the trust, more and more laboratories are now aiming for certifications and accreditations. By solving the complex market puzzle, laboratories are now focusing on quality and expanding their brand with cheaper services leading to unification of the industry. They are now bolstering their infrastructure and technology to serve as a one-stop destination for all testing.
Pushing the Standards
Nowadays, the diagnostic laboratories are involving themselves in marketing their brand by engaging in educational and awareness campaigns. They are offering customer-centric health services and overcoming the traditional horizons of a doctor’s prescription. Labs and Diagnostics centres are now offering annual health check-ups, pre-marriage screening, well-women packages, etc. to entice new customers. They are pushing the standards and transforming themselves into expert consultants, surgical referrals, and second opinions.
The Next Big Thing
The growth drivers of the Indian healthcare domain are the increase in corporate hospitals, laboratory services, and expansion of diagnostic services to the rural areas. The outlook of this nutshell will witness remarkable changes as it is witnessing today. According to an independent research, the diagnostic services market is expected to flourish at 27.5% for the coming five years. With the rise in health consciousness and burden of chronic diseases, this market will approximately swell over INR 860 Billion in revenues by 2020. As such, this report provides an effective overview of the market size and future forecast.
On the other hand, various business models in the Indian diagnostic services market will uplift the diagnostic services and facilitate the entry of new market players. Predictions about the future of diagnostic laboratory continue to be a source of curiosity for healthcare experts. The future will introduce the world with better-informed services that will eventually drive down the cost of laboratory testing. Indian Diagnostics sector will provide greater insight into the link between DNA sequence and disease in the near future. This in turn will power the development of more effective treatments, eradication of diseases, and longer lives.
