India’s growing population and increasing preference for private health services over public services is augmenting the growth of the healthcare delivery market.
Among countries outside the US, India has one of the largest numbers of Joint Commission International (JCI) approved hospitals. The country has 0.5 million doctors, 0.9 million nurses and about 1 million beds. These factors have transformed it into a leading medical tourism destination.The National Rural Health Mission and the National Urban Health Mission have been initiated by the government to take care of both rural and urban slum populations in India.
Healthcare expenditure in India is expected to increase by 15 per cent per annum. This segment is expected to constitute 6.1 per cent of the country’s GDP and employ around nine million people in 2012. The share of tertiary care in the total healthcare market is currently about 11 per cent.
In India, private healthcare accounts for nearly 80 per cent of the country’s total healthcare expenditure, although it is more expensive as compared to public healthcare services. Players such as Apollo, Max Healthcare and the Manipal Group are early entrants into the segment.Sectoral Presentation (April 2010)
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