In a recent Frost & Sullivan end user survey that implicated 500 central labs across Europe, lab managers were asked what they would do if they needed to perform a particular assay for which they did not have the right testing equipment. Their carefully considered answer, believe it or not, was that they would outsource it to a third-party vendor who had the necessary expertise. Less than a decade ago, they may have answered differently (said they would invest in new technology), but today, in view of the cost-constraining climates that ails the diagnostics industry, outsourcing – rather than investing in new technology – emerges as a more viable solution.
Although savings in excess of 80% per test have been reported in outsourcing lab-testing services to India, a more realistic estimate would be around 25%. The Indian diagnostics and pathology laboratory business is currently estimated around USD 864 million and is growing at a rate of 20 % per annum, according to various surveys.
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