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According to a new research report by RNCOS entitled, “Indian Diagnostic Services Market Outlook 2020”, the Indian diagnostic services market is expected to witness a high growth owing to increasing prevalence of chronic diseases coupled with growing rising disposable income of the country. In such scenario, these services have emerged as one of the largest revenue generators for their major market players. The Indian diagnostic services market, in 2015, reached a mark of INR 255 Billion and is expected to grow at a CAGR of around 28% during 2015-2020. The market will experience a remarkable growth in the future too. The diagnostic services market is expected to become much more organized and consolidated with numerous small and independent laboratory players becoming authorized centers for the larger players. The distribution of diagnostic laboratories is constricted mainly to urban areas as compared to rural areas.
 
According to RNCOS, the Government is also taking initiatives in investing in private sector related to diagnostics services and organizing as well as sponsoring campaigns related to health awareness. Moreover, various foreign companies are also investing Indian diagnostic services. According to, Department of Industrial Policy and Promotions (DIPP) hospitals and diagnostic centers attracted foreign direct investment worth US$ 2,793.92 million between April 2000 and January 2015 and is likely to grow more in near future.
 
 
Research Analysis and Highlights
 
The report is spreaded across 120 pages and provides an in-depth research and rational analysis of the current status and future prospect of the Indian Diagnostics Services Industry. The report provides a clear picture of the factors driving the industry growth, and challenges faced by the industry. In addition to this, the study includes industry developments that have occurred during past three years and forecasts for coming years. The report further highlights market segmentation of the industry by types of services segment, and the individual share of each segment. Separate section is allotted to discuss the prevalence and incidences of diseases for which diagnostic services are widely used. With special emphasis on competitive landscape and dominant players in the market, the research provides valuable information to the investors who are looking to enter in this market.
 
Some of the key highlights of the report include the following:
 

   - Advancements in Diagnostic Services aiding Growth

   - Diagnostics Labs adopting E-packages an innovative method.

   - Dr. Lal Path Labs and Quest Diagnostics leading the Indian Diagnostics Industry.

  - Rising medical tourism and disposable incomes of middle class population is the largest attraction for Indian Diagnostic Services Industry.