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AnexGIndias healthcare sector to grow to$158.2bn in 2017PTI Dec 2, 2013, 01.43AM IST

MUMBAI: The healthcare sectorin India will grow to $158.2

billion in 2017 from $78.6 billion in 2012, a report has said.

"The healthcare sector is growing at a 15% CAGRand

jumped from $45 billion in 2008 to $78.6 billion in 2012 and

expected to touch $158.2 billion by 2017," Equentis Capitalsaid in its report.

India being a country with growing population, country's per capita healthcare expenditure has increased at a

CAGR of 10.3% from $43.1 in 2008to$57.9 in 2011 and going forward this figure is expected to rise to $88.7

by 2015.

The factors behind the growth is rising incomes, easier access to high-quality healthcare facilities and greater

awareness of personal health and hygiene, the report said.

The country's healthcare system is developing rapidly and it continues to expand its coverage, services and

spending in both the public as well as private sectors, it said.

The private sector has emerged as a vibrant force in India's healthcare industry, lending it both national andinternational repute. Private sector's share in healthcare delivery is expected to increase from 66% in 2005 to

81% by 2015. Private sector's share in hospitals and hospital beds is estimated at 74% and 40%,

respectively.

There is substantial demand for high-quality and speciality healthcare services in tier-II and tier-III cities. To

encourage the private sector to establish hospitals in these cities, government has relaxed the taxes on

these hospitals for the first 5 years.

Many healthcare players such as Fortis and Manipal Groupare entering management contracts to provide an

additional revenue stream to hospitals.

Over the years, health insuranceis gaining momentum in India; gross healthcare insurance premium is

expanding at a CAGR of 39% over FY06-10. This trend is likely to continue, benefitting the country's

healthcare industry

Strong mobile technology infrastructure and launch of 4G is expected to drive mobile health initiatives in the

country. Mobile health industry in India is expected to reach $0.6 billion by 2017, the report said.

To standardise the quality of service delivery, control cost and enhance patient engagement, healthcare

providers are focussing on the technological aspect of healthcare delivery.

Digital health knowledge resources, electronic medical record, mobile healthcare, hospital information

system are some of the technologies gaining acceptance in the sector. Going forward, the healthcare

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Telemedicine is also a fastemerging sector in India. In 2012, the telemedicine market in India was valued at

$7.5 million, and is expected to rise at a CAGR of 20% to $18.7 million by 2017. With increased private

participation, the healthcare sector has also witnessed rise in FDI inflows. As per law, 100% FDI is permitted

for all health-related services under the automatic route.

Demand growth, cost advantages and policy support were instrumental in attracting FDI inflows into the

healthcare sector. During April 2000-March 2013, FDI inflows for drugs and pharmaceuticals stood at $10.3

billion, while inflows into hospitals and diagnostic centres, and medical appliances stood at $1.6 billion and

$0.6 billion, respectively.

India's primary competitive advantage over its peers lies in its large pool of well-trained medical professionals in

the country. Also India's cost advantage compared to peers in Asia and Western countries is significant

cost of surgery in India is one-tenth of that in the US or Western Europe.

India's competitive advantage also lies in increased success rate of Indian companies in getting Abbreviated

New Drug Application ( ANDA) approvals. India also offers vast opportunities in R&D as well as medical

tourism, the report said.

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Readers' opinions (5)

Sort by: Newest | Oldest

18 Dec, 2013 02:36 AM

thomas(india)

India should be well ahead of the world in Health industry. Medical technology medical equ ipments manufacture-innovation and res earch. Tele medication. Generic drugs Pharmaceuticals -alternative medicines. -A to Z

spectrum of the health industry should get a huge boos t. Right for health and medicine should be m ade

mandatory and simple and efficient. Al the hospitals have to meet with top standards -hygiene -cleanliness-

sanitation- India should ave emergency service s- paramedical - am bulance squads - helicopter services to

reach the spot in m inutes etc. Every medical or health staff should be in their res pective uniforms -clean and

sm art. Medical s taff should be friendly and helpful with great ATTITUDE. serve the people -s erve the nation.

02 Dec, 2013 11:16 PM

Krishnasamy Keerthevasan(Thuraiyur)

The life style change and occupational diseas e will m ake even bigger market

02 Dec, 2013 01:22 PM

Vissionary(India)

Excellent - Hope same feat is emulated in AGARTALA too !! Not a single HOSPITAL of national importance (in

terms of quali ty and trusted brand) exists in TRIPURA which is a mus t for those helpless people of state who

has to run around and rush to Chennai and other cities for treatment even during those critical hoursof life! -

Need of the hour is to go PROACTIVE and INVITE best of the brands available (e.g FORTIS, APPOLO, MANIPALHospitals) to set up their HOSPITAL CHAINS at AGARTALA. Really hope leadership in Center & TRIPURA Govt

takes a FUTURISTIC and PROGRESSIVE approach and goes BIG to put TRIPURA into national & international

scheme of things and strives hard in making AGARTALA into an world class city signifying uprising India's

growing prowes s! We really need to move forward by developing TRIPURA with world class infrastructures and

bring it at par with best of the other Indian states in the shortest pos sible time! Anything less than 'WORLD

CLASS' would only defeat the very purpose behind infrastructure development of TRIPURA under LOOK-EAST

Policy! IMPOSSIBLE - just means I AM POSSIBLE! If India need to catch up with developed part of the world,themos t strategically placed Northeast (especially TRIPURA) need to be m ade into a developed region in the

shortest pos sible time! I s trongly believe TRIPURA govt (in clos e co-ordination with Center, other concerneddignitaries & all corporate vissionaries ) can certainly achieve this sooner rather than late!

02 Dec, 2013 08:28 AM

tsgopala gopalakrishnan(chennai)

So we expect the sickness would grow in the years to come doodu chennai 2nd dec

02 Dec, 2013 08:15 AM

COLRANBIRLAMBA lamba(PTA)

good one

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