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Scope of Cellular and Molecular Diagnostics
The Global Invitro Diagnostics Market accounted for $61,103 million in 2016, and is estimated to reach at $84,647 million by 2023, growing at a compound annual growth rate (CAGR) of 4.6% from 2017 to 2023.
According to the new research report “Indian Diagnostic Services Market Outlook 2020”, the diagnostic services market is expected to continue growing at 27.5% for next five years. This growth is likely to be driven by improving healthcare facilities, medical diagnostic and pathological laboratories, private-public projects, and the health insurance sector. Moreover, with the rise in health consciousness in the society and the rising burden of chronic diseases, this market will swell to approximately INR 860 Billion in revenues market by 2020.
The laboratories are rapidly expanding using various business models. The market is driven by increasing number of lifestyle diseases, rise in life expectancy due to preventive healthcare practices and increasing medical tourism. In India, the diagnostics and pathology laboratories comprise more than 100,000 labs. The increase in the number of hospitals and healthcare facilities, development of healthcare infrastructure and the advancement of medical equipment propelled the growth of this industry. Further, the increase in the complexity of diseases has prompted the industry to provide better facilities for diagnosis and sample collection. The investment in this sector is very huge and is projected to grow as the indigenous diagnostics industry is expanding exponentially.
CMD domain is not offered as a course by any institutes/universities in India. The recent emergence of separated niche for ‘molecular and immunodiagnostic’ sector has created a tremendous need for human resource skilled in the diagnostic specialisation. The ever increasing super-speciality hospitals and oncology hospitals has skilled manpower crunch. The Life Sciences education at both graduate and postgraduate levels lack practical exposure and infrastructure.
Further, the CMD syllabus has been restructured to be in tune with the latest developments and technological innovations, and has been customised in consultation with the experts from industry and clinical setting, to cater to the needs of the ever growing hospitals and diagnostic centres.
The students trained in CMD and placed earlier as a part of BTFS program during the years 2011-2016 is an excellent testimony for this with 66% of them placed in the industries and most of the remaining advancing for doctoral research.
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