Parikalpana: KIIT Journal of Management

Abstract

The Indian Diagnostics services market is estimated around $ 3.5 billion. The market has witnessed a considerable growth rate since 2012 ($ 2.5 billion) and it is estimated to reach $ 5.5 billion by 2020. The diagnostic and pathological test market has a potential to grow at a CAGR of more than 17%. Currently, more than 1,00,000 diagnostic and pathology labs including specialized laboratories, laboratories in hospitals and nursing homes, and small testing centres are operating in India. Of these, only about 10 – 12 percent of the market is organized and composed of laboratories with proper accreditation3. The research reveals that there is an ongoing shift from unorganized and non-branded providers to the organized and branded diagnostic chains that provide higher quality and reliable services. The present paper attempts to offer insights into the Indian market with special reference to Delhi/ NCR (Noida, Faridabad, and Gurgaon), with regard to: current players in the diagnostics market, the consumer decision making process for selecting diagnostic facilities, and an understanding of consumer preferences and motivators and/or influencers of brand choice.

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