Molbio Diagnostics, whose IPO is live, offers insights into India’s diagnostics market, in its prospectus. Diagnostics is currently the largest segment in India’s healthcare market, after hospitals and pharmaceuticals. However its contribution to the overall healthcare market is lower relative to the US — indicating headroom for growth. Diagnostics in India is expected to see early teens growth over the next five years, driven by rising incidence of chronic illnesses and demand for preventive screening. Within diagnostics, in vitro diagnostics account for about 56 per cent of the market. Published on August 11, 2026