India Catheterization Laboratory Market Outlook – Rising Incidence of Cardiac Diseases Aiding Growth

New York, NY, September 20, 2014 --(PR.com)-- Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Catheterization Laboratory Market in India 2014’. The constant growth in the number of patients suffering from cardiovascular diseases in India is resulting in an increase in the need for proper cardiac care services in the country. With rapid improvements in the health infrastructure of the country, healthcare services have become accessible to a larger fraction of the population. With several new healthcare centers being set up across the country, the demand for cath labs is set to rise, thereby helping in the growth of the market.

Netscribes’ latest market research report titled Catheterization Laboratory Market in India 2014 states that the Indian market for catheterization laboratories is growing steadily as a result of the advancements in technology and the resultant increase in demand from hospitals, nursing homes and other medical centers. Different segments are available in the market which includes the premium, performance and value segments. The rising incidence of cardiac diseases in the country and the increasing need for various medical procedures conducted in cath labs is however the most important growth factor for the market. Due to the growing target base, that is, healthcare centers, the market has huge potential for growth, thereby bringing immense benefit to players.

Several technological trends are visible in the market. With the rapid advancement and development of newer technologies, the market will get a further boost. Both domestic and foreign companies operate in the market and high competitive rivalry exists between them. However, Philips, GE and Siemens cumulatively hold the highest share in the market. The expansion of hospitals in tier II and tier III cities will help the Indian companies as these centers generally have a budget constraint and would prefer to buy the products of domestic manufacturers who generally sell their products at a lower price than those of foreign manufacturers.