Start, Run and Manage a Super Speciality Hospital. India Healthcare Market Potential Opportunities for Market Entry
Hospital, an institution that is built, staffed, and equipped for the diagnosis of disease; for the treatment, both medical and surgical, of the sick and the injured; and for their housing during this process. The modern hospital also often serves as a centre for investigation and for teaching.
A speciality hospital is a hospital that is specialized in a certain area. Like cardiac conditions, orthopedic conditions, or any specialized category.
Benefits of Choosing a Specialty Hospital
· High-quality staff with focused experience
· Peer support from patients with similar injuries
· Specialized patient and family education and resources
· More options to participate in research studies
· Access to services not found in most rehabilitation centers
· Specialized long-term support
The hospitals are playing a vital role in maintaining the well-being of the people. Hospitals offer medical workers opportunities for investigations in the form of laboratory facilities, trained personnel, patients and accumulated records, which are not available elsewhere. This research is thought to be an important factor in the successful practice of medicine and the advancement of medical science. The modern trend is to establish a close association between the small rural hospitals, research centers and between all hospitals and other community health organizations in order that their personnel may have provision for an adequate research and diagnostic and therapeutic facilities.
Healthcare Industry in India
· Healthcare has become one of India's largest sectors both in terms of revenue and employment.
· Indian companies are entering into merger and acquisitions with domestic and foreign companies to drive growth and gain new markets.
· The hospital industry in India stood at Rs 4 trillion (US$ 61.79 billion) in 2017 and is expected to increase at a Compound Annual Growth Rate (CAGR) of 16-17 per cent to reach Rs 8.6 trillion (US$ 132.84 billion) by 2023.
Rising income level, greater health awareness, increased precedence of lifestyle diseases and improved access to insurance would be the key contributors to growth. The sector is expected to generate 40 million jobs in India by 2030.
The industry is growing at a tremendous pace owing to its strengthening coverage, services and increasing expenditure by public as well private players.
The Hospital industry in India that accounts for 80% of the total healthcare market, is witnessing huge investor demand from both global as well as domestic investors.
Future of the Healthcare Industry in India: Growing Rapidly in 2018
The healthcare industry in India is already one of the country’s largest sectors in terms of both employment and revenue generation. Apart from drivers such as strong economic performance, rising population, and the increased prevalence of chronic diseases, significant growth within India’s healthcare industry over the recent years is also believed to be facilitated by a rapid privatization of healthcare services, particularly in secondary and tertiary healthcare services in rural and urban areas.
Meanwhile, India’s competitiveness in the global healthcare market also indicates in its huge availability of well-trained medical professionals and cost competitive in pharmaceutics, medical devices, and medical tourism sectors.
Rising income levels, the aging population, growing health awareness, and a changing attitude towards preventive healthcare is expected to boost healthcare services demand in future.
The hospital services’ market represents one of the most lucrative segments of the Indian healthcare industry. Various factors, such as increasing prevalence of diseases, improving affordability, and rising penetration of health insurance are fuelling the growth in the Indian hospital industry. Several private players are also entering the sector with new plans of establishing hospitals and health centers around the country.
India's high population makes it an important player in the Healthcare Industry. Healthcare has become one of India’s largest sectors - both in terms of revenue and employment. Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players.
Healthcare scenario is fast changing all over the world. Today Indian health care industry is business driven and one can see entry of all sorts of service providers to be part of this massive multi core business, growing at the rate of 13% annually. Globalization and privatization have also changed the functioning of the healthcare system. The private health network is spreading fast throughout the country. Economic, political, social, environmental and cultural factors are influencing the health care and the delivery of the health care services.
Few Indian major players are as under
· Adani Hospitals Mundra Pvt. Ltd.
· Ahalia Healthcare Ltd.
· Alchemist Hospitals Ltd.
· Apollo Hospitals Enterprise Ltd.
· B P Poddar Hospital & Medical Research Pvt. Ltd.
· B S R Super Speciality Hospitals Ltd.
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