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 result 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 Age and readily available cutting edge technology, the entire scenario has changed. Today, hormone tests are considered as part of the routine and affordable. Our nation has risen as the focal point for worldwide research and futuristic innovations. With the extension of clinical trials market and vast openings for medical coverage, there is a pattern towards union amongst organised and established players.
Below mentioned points show how there is a remarkable difference and progress in the industry:
The pathology business makes up for a mere 2.5 per cent of the general healthcare market share, yet it has displayed a relatively aggressive and cost driven nature. The current state of science is all about customised 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 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 hematology, but the public’s mind is now increasingly asserting towards preventive healthcare.
Operating in a highly uncontrolled and fragmented market
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