A progressive growth of India's 35 billion dollar healthcare industry can be seen in the rise of the number of diagnostic laboratories due to the increasing health awareness.
Currently there are over 12,000 hospitals and 15,000 diagnostic laboratories contributing extensively to the overall healthcare delivery market in India.
Advertisement"70 percent of medical decisions are based on the diagnostic tests. This is clearly a driving force. This fact was there even earlier also. What has happened now is because of healthcare awareness both amongst patients...and they are extremely demanding and now they can afford it as there income levels going up. All these factors come in together are leading to the increase in the diagnostic tests," said Dr. O P Manchanda, Chief Executive Officer, Dr. Lal Path Labs Ltd. New Delhi.
The coming up of high-tech path labs in two-tier and small towns in India has made the domestic and foreign-based manufacturers of diagnostic products and instruments, a happy lot.
"Most of the fully automated platforms are all imported, so there is nothing manufactured in the country which is one of the worries for India today. If India wants to become self-reliant there has to be lot of manufacturing initiatives to make our testing more cost effective in the country," said Dr. G S K Velu, Managing Director, Metropolis Health Services (I) Limited, Chennai.
Medical devices supply market in India is expected to grow from 1.19 billion dollars in 2008 to 1.70 billion dollars in 2010.By 2012, it is estimated to reach 2.78 billion dollars.
According to a survey report on Indian medical care industry, India spends 5.10 percent of GDP on healthcare.