Diagnostic sector to grow in double-digits over the medium term
The Indian domestic medical diagnostic industry is set to grow at 12-14% in the medium term, driven by expansion and consumer focus on preventive healthcare, per CareEdge. The market was worth $14.57 billion in 2022 and is expected to reach $43.57 billion by FY32, as reported by Polaris Market Research. Pathology testing services make up 60% of the sector, while imaging diagnostic services account for the rest, with both expanding due to demand.
FY24Q2 results: https://nsearchives.nseindia.com/corporate/Outcomeofbm31102023upload_31102023163257.pdf
Highlights:
EPS grows 41% YoY from 2.70 to 3.83
Operating cash flow for same 6 months period grew from 53.74 to 68.77.
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