Dr Avinash Phadke, Founder, Dr Avinash Phadke Pathology Labs, and President-Technology, SRL Diagnostics, explains the opportunities and challenges within India’s diagnostics space in a chat with Raelene Kambli
What is your perspective on the future of diagnostics in India? What are the changes that you see?
World over, diagnostics plays a key role in the overall healthcare delivery business. It cannot be outsourced to a large extent and is completely recession proof. In the same light, the future of diagnostics in India is very bright. The question that we all ponder upon is, which vertical of diagnostics will receive much prominence. We are unsure whether the business in the private sector and corporate sector will grow more, or within the public sector with the launch of the Ayushman Bharat scheme or we will see an increase in PPP model. Although this is very difficult to identify, it is also very difficult to ascertain which segment will outpace the other. We still believe that the overall sector will see a lot of positive change. The overall, diagnostic space will grow at a CAGR of around 12-15 per cent.
What is your opinion on the current slowdown in growth rate of large diagnostic companies such as, Lal Pathlabs, Thyrocare, SRL and more?
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