The world of pathology labs has grown by leaps and bounds in the past decade. Years ago, getting a basic hormone or thyroid test was an impossible task. A regular test results would take easily ten or more days, thus delaying critical medical decisions. Very few labs attached to hospitals had access to ‘specialised' tests. Thanks to the new New ageAge and , readily available cutting-edge technology being readily available,, the entire scenario has changed. Today, hormone tests are considered as part of the routine and affordable for the masses. Our nation has now risen as the focal point for worldwide research and futuristic innovations. With the extension of the clinical trials market and vast openings for medical coverage, there is a pattern towards union amongst organiszed and established players.
The pathology business makes up for a mere 2.5 per cent % of the general healthcare market share, yet it and has yet displayed a relatively an aggressive and cost- driven nature. The current state of science is all about customiszed and evidence- based medicines and as such, the coming years will witness a transformation in the healthcare industry. As our insight into genetics and diagnostics expands faster than a lay man person can catch up, the diagnostic business in India is all set to witness a movement toward molecular diagnostics. Around 60 per cent % of the present research facility is offered by clinical pathology, that incorporates immunology and haematology, but the public's mind is now increasingly asserting towards preventive healthcare.
Operating in a highly uncontrolled and fragmented market
The pathology industry in India has been uncontrolled and fragmented since its inception. There are more than 1,00,000 laboratories across the country aiding in critical diagnostics and medical decisions. The lack of regulation enforced by the government is appalling, and has definitely slowed the growth of the sector. Corporate and branded players like Metropolis, who follow international standards of practice and maintain uniformity in service, only account for over 15-20 per cent % of the total market share.
Quality and experience, a major driver