Healthcare accounts for 5% of the GDP in India and is among the largest in the world. As per World Bank statistics, in India, around 93% of all hospitals, 64% of beds and 82% of doctors are in the private sector. In view of providing healthcare facilities to all sections of the society and to expand its reach to the last mile, both the Government and private players are investing significantly in the healthcare sector. The country aims to reach the global average of 30 beds per 10,000 people by 2020
Trends in average life expectancy & per capita healthcare expenditure in India, (2007 – 2012)
Source: World Bank
Indian healthcare service sector has come a long way and is now on par with developed countries in offering advanced and superior quality services. World Health Organisation has awarded a ‘Polio Free’ status to India and the country has been successful in completely eradicating small pox as well. Along with allopathic treatment, the country offers a variety of traditional treatments such as ayurveda, siddha and homeopathy. With competitive costs and quality treatment, India is one of the preferred destinations in the world for high-end pathology and diagnostic services. In the recent years, number of foreign patients availing medical treatment in the Indian hospitals has increased distinctly.
Healthcare delivery marketwas estimated at around INR 4,500 billion in 2013-14 and is growing at around 19% to 20% per annum. Of the total healthcare delivery market, hospital services accounted for share of over 95% and the by diagnostic services. Healthcare delivery service market is forecast to cross Rs. 7,000 billion by 2016-17. During April 2000 to July 2014, Indian hospitals and diagnostic centres attracted an FDI worth Rs 125 billion (US$ 2.02 billion).
Some of the large hospitals in the tertiary care segment include Escorts Heart Institute & Research Centre (New Delhi), Tata Memorial Cancer Hospital (Mumbai), Wockhardt Hospital & Kidney Institute (Kolkata), Sankara Nethralaya (Chennai), National Institute of Mental Health & Neuro Sciences (NIMHANS, Bengaluru), Hospital for Orthopedics, Sports Medicine, Arthritis and Trauma (HOSMAT, Bengaluru). Some of the other well known hospitals in the corporate sector include Apollo Hospitals, Fortis Healthcare, Max Hospitals, Manipal Group of Hospitals and CARE Hospitals.
Diagnostic services is one the critical segments of the healthcare sector and currently around 70% of the medical treatment decisions are based on the test results. Of the diagnostics services market, pathology (medical laboratories) contributes to around 60% and the rest 40% by radiology and imaging. Some of the large players in the diagnostics services market include SRL Ltd., Dr. Lal Path Labs, Metropolis, and Thyrocare.
Healthcare accounts for 5% of the GDP in India and is among the largest in the world. As per World Bank statistics, in India, around 93% of all hospitals, 64% of beds and 82% of doctors are in the private sector. In view of providing healthcare facilities to all sections of the society and to expand its reach to the last mile, both the Government and private players are investing significantly in the healthcare sector. The country aims to reach the global average of 30 beds per 10,000 people by 2020
Trends in average life expectancy & per capita healthcare expenditure in India, (2007 – 2012)
Source: World Bank
Indian healthcare service sector has come a long way and is now on par with developed countries in offering advanced and superior quality services. World Health Organisation has awarded a ‘Polio Free’ status to India and the country has been successful in completely eradicating small pox as well. Along with allopathic treatment, the country offers a variety of traditional treatments such as ayurveda, siddha and homeopathy. With competitive costs and quality treatment, India is one of the preferred destinations in the world for high-end pathology and diagnostic services. In the recent years, number of foreign patients availing medical treatment in the Indian hospitals has increased distinctly.
Healthcare delivery market was estimated at around INR 4,500 billion in 2013-14 and is growing at around 19% to 20% per annum. Of the total healthcare delivery market, hospital services accounted for share of over 95% and the by diagnostic services. Healthcare delivery service market is forecast to cross Rs. 7,000 billion by 2016-17. During April 2000 to July 2014, Indian hospitals and diagnostic centres attracted an FDI worth Rs 125 billion (US$ 2.02 billion).
Some of the large hospitals in the tertiary care segment include Escorts Heart Institute & Research Centre (New Delhi), Tata Memorial Cancer Hospital (Mumbai), Wockhardt Hospital & Kidney Institute (Kolkata), Sankara Nethralaya (Chennai), National Institute of Mental Health & Neuro Sciences (NIMHANS, Bengaluru), Hospital for Orthopedics, Sports Medicine, Arthritis and Trauma (HOSMAT, Bengaluru). Some of the other well known hospitals in the corporate sector include Apollo Hospitals, Fortis Healthcare, Max Hospitals, Manipal Group of Hospitals and CARE Hospitals.
Diagnostic services is one the critical segments of the healthcare sector and currently around 70% of the medical treatment decisions are based on the test results. Of the diagnostics services market, pathology (medical laboratories) contributes to around 60% and the rest 40% by radiology and imaging. Some of the large players in the diagnostics services market include SRL Ltd., Dr. Lal Path Labs, Metropolis, and Thyrocare.