Diagnostic labs better option to online platforms: Lupin
Forays into South market with the opening of its first regional reference laboratory in Hyderabad
image for illustrative purpose
Hyderabad: Lupin Diagnostics, a subsidiary of pharmaceutical company Lupin Limited on Wednesday said NABL (National Accreditation Board for Testing and Calibration Laboratories) accredited diagnostic centres will be highly preferred for their affordable and quality tests in comparison to digital diagnostic platforms which witnessed a sudden traction during the pandemic period.
Responding to a query about the growing number of digital diagnostic platforms, CEO of Lupin Diagnostics, Ravindra Kumar said that during the pandemic period these online players witnessed higher traction however post Covid, after a correction in pricing, the clients have moved to affordable, reliable and NABL certified diagnostic centres. “Online diagnostic platforms are either making loss or closing down. Operating costs are higher to sustain such business models which are dependent on client count. Moreover they provide health checks which do not cover the services which centres like Lupin does,” Kumar added.
The company has entered the South diagnostic market with the opening of its first regional reference laboratory in Hyderabad. Lupin Diagnostics has an existing network of over 380 franchise collection centres and 23 laboratories across India. The company said, by end of this month, it plans to take the count to 425 franchise sample collection centre. At present, more than 10 collection centres are active across Telangana, with plans to reach 100 by end of March 2024.
“In the next one year we will be expanding extensively in tier two and three cities of Telangana and Andhra Pradesh. We see scope for growth as the Rs 90,000 crore valued diagnostic market of the country is growing at a CAGR of 16 per cent year-on-year, of which only 20 per cent are organised players and 2.8 per cent are NABL accredited,” the CEO said.
