Defining the Future of Diagnostics

The Indian diagnostics industry has emerged as a preferred play within the expanding healthcare landscape, driven by attractive margins and significant growth potential. With a market size of ~US$ 13B in FY23, the domestic diagnostics industry is projected to grow at a CAGR of ~14% over the next five years. The Indian diagnostics industry has emerged as a preferred play within the expanding healthcare landscape, driven by attractive margins and significant growth potential. With a market size of ~US$ 13B in FY23, the domestic diagnostics industry is projected to grow at a CAGR of ~14% over the next five years. This growth trajectory will be fueled by rising factors such as the increasing prevalence of chronic diseases, growth in the geriatric population, rising demand for preventive tests, and government initiatives.