“If you get a diagnosis, get on a therapy, keep a good attitude and keep your sense of humor”
– Teri Garr, Hollywood actress, singer
How many times in life have we ever analyzed a diagnostic centre or have a gone a step ahead to understand the broader perspective of the diagnostic and pathology labs around us? For the majority, we tend to consider these as the subsets of essential medical services but the matter of fact is, it’s much more than that!
Standing tall amongst the key constituents of India’ healthcare markets are the Diagnostics and the Pathology companies that are transforming themselves in today’s era of consumerism. While innovative technology continues to disrupt the Indian healthcare ecosystem, the most evident change can be witnessed among the diagnostic and pathology service providers. While the established players are focusing to streamline and shed away from the conventional practices the new players are trying to cope up by embracing the best practices and deliver innovative services.
With the recent advancements in the medical sector, the diagnostics market is surging at an exponential pace. Change in evidence-based treatments, inclusion under health insurance, income levels, lifestyles, population, and preventive health check-ups are some of the factors that are fuelling the growth of this sector.
With the advent of state-of-art laboratories within some of the renowned private hospitals has initiated a fierce competition amongst the standalone providers and these medical service providers. The ultimate beneficiaries are the patients who have now access to quality diagnostics and pathological services throughout the country at competitive prices.
The paradigm shift towards molecular pathology and genetic-based test are creating new platforms in the modern era. Digitalization and inclusion of innovative technologies like AI are setting the right trajectory of growth. These trends along with others are re-shaping the future of diagnostics and pathology centers of India along with changing the dynamics of the business ecosystem.