'We want to make a difference to the lives of 50 cr Indians by 2030'

With tech innovations and new and convenient tests being introduced, the diagnostics laboratories market is on the rise with a high, 11 percent growth. We caught up with Dheeraj Jain, CEO, Redcliffe Labs, who offered insights into which way the market is headed. Excerpts of the interview

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What are the key demand drivers for the labs market in India?

The rising incidence of chronic diseases like diabetes, CVDs, cancer, and respiratory disorders has been driving demand for diagnostic labs. As the Indian population ages and lifestyle factors contribute to the growth of these diseases, there will be a greater need for accurate and timely diagnosis. For example, the increasing prevalence of diabetes has led to a higher demand for diagnostic tests such as blood glucose monitoring, HbAlc testing, and lipid profiling.

Tech advancements have expanded the range of diagnostic tests and improved their accuracy and efficiency. New techniques, such as molecular diagnostics, genetic testing, and advanced imaging modalities, have increased the demand for laboratory services, allowing early detection, personalized medicine, and targeted therapies. The emergence of next-generation sequencing (NGS) has revolutionized genetic testing and opened new avenues for diagnosing genetic disorders and predicting disease risks.

There is a growing emphasis on preventive healthcare and early detection to improve health outcomes and reduce costs. This shift in the approach has led to a high demand for screening tests, wellness panels, and health checkups offered by diagnostic laboratories. Examples include routine screenings for hypertension, cholesterol levels, and cancer biomarkers, as well as preventive tests for infectious diseases like HIV, hepatitis, and sexually transmitted infections.

In addition, the factors such as increasing healthcare expenditure, expanding access to healthcare services, and growing awareness about the importance of regular checkups, contribute to the sustained growth of the diagnostic laboratories market.