Parikalpana: KIIT Journal of Management

Open Access Open Access  Restricted Access Subscription Access

Self-Driven Consumer Diagnostics Businesses in National Capital Region (NCR), India


Affiliations
1 Indus Business Academy, Bangalore, India
2 UPES, Dehradun, India
 

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.


Keywords

Consumer Diagnostics, Self-Driven/Preventive Diagnostics, Consumer Perception, Consumer Behaviour, Decision Making Process.
User
Notifications
Font Size

  • Anwesha Sahoo (2013). A short study on the patients’ attitude towards Indian diagnostics industry. International Journal of Advanced Scientific and Technical Research, 4(3), 396-400

  • Chaudhary, D. (2014, October 30). A hit with investors, Dr Lal PathLabs opts to go the IPO way. Forbes India. Retrieved September 27, 2016, from

  • CII-KPMG, (2013) A Report on Excellence in Diagnostic Care, CII, New Delhi

  • Dhavan, A (2015), 2015 Healthcare Outlook India, Delloitte Touche Tomatsu, Bengaluru, 2015

  • Hoyer, W.D. & MacInnis, D. (2007). Consumer Behavior. Houghton Mifflin. USA

  • http://forbesindia.com/article/big-bet/a-hitwithinvestors-dr-lal-pathlabs-opts-togothe-ipo-way/38907/1

  • http://forbesindia.com/article/hiddengems/ thyrocare-technologies-testing-newwatersin-medical-diagnostics/41051/1

  • http://www.forbes.com/sites/anuraghunathan/2015/02/25/metropolischainof-diagnostics-labs-pushes-forgrowthacross-india-and-africa/

  • http://www.thehindubusinessline.com/companies/srl-diagnostics-to-open-45labs-invest-450-cr-this-year/article6145752.ece

  • https://www.rncos.com/Market-AnalysisReports/Indian-Diagnostic-ServicesMarket-Outlook-2015-IM418.htm

  • Indian Diagnostic Service Market Outlook, RNCOS (2015). Retrieved September 28, 2016 from

  • Irwing M. Rosenstock. (1966). Why People Use Health Services. Milbank Memorial Fund, 44, 94-127.

  • Lawrence H. Wortzel. (1976). The Behavior of The Health Care Consumer: A Selective Review. Advances in Consumer Research, 3, 295-301.

  • Mao Yu Zhang, Wai Kuan Chong, Hao Hu and Yitao Wang (2014). Pharmacyperceived consumer preferences: A survey of community pharmacies in Macau. Journal of Medical Marketing, 14(1), 41– 48.

  • Pandit, V. (2014, June 24). SRL Diagnostics to open 45 labs, invest 450 crore this year. The Hindu Business Line. Retrieved September 25, 2016, from

  • Path.org, (2013), A Report on Landscape Analysis of the private sector diagnostic Services in India, submitted to National Institutes of Health, PATH, Seattle, USA

  • Raghunathan, A. (2015, February 25). Metropolis’ Chain of Diagnostics Labs Pushes for Growth across India and Africa. Forbes Asia. Retrieved September 25, 2016, from

  • Thakur, A.S. (2015, September 10). Thyrocare Technologies: Testing new waters in medical diagnostics. Forbes India. Retrieved September 27, 2016, from


Abstract Views: 509

PDF Views: 2




  • Self-Driven Consumer Diagnostics Businesses in National Capital Region (NCR), India

Abstract Views: 509  |  PDF Views: 2

Authors

Vaishali Agarwal
Indus Business Academy, Bangalore, India
Teena Saharan
UPES, Dehradun, India
A. V. Ramana Acharyulu
Indus Business Academy, Bangalore, India

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.


Keywords


Consumer Diagnostics, Self-Driven/Preventive Diagnostics, Consumer Perception, Consumer Behaviour, Decision Making Process.

References





DOI: https://doi.org/10.23862/kiit-parikalpana%2F2018%2Fv14%2Fi2%2F177861