Indian healthcare on boom despite slowdown
Notwithstanding the current global economic crisis, India's
pharmaceutical industry and its health care market are expected to grow rapidly
in the next few years.
Driven by strong local demand, Indian health care market is expected to
continue growing close to previously projected rates of 10 to 12 per
cent. The high growth of the Indian health care sector is primarily
driven because of domestic reasons.
With average household consumption expected to increase by more than 7 per cent
per annum, the annual healthcare expenditure is projected to grow at 10 per
cent and also the number of insured is likely to jump from 100 million to 220
million.
Further hospital beds are expected to double from 1.5 per thousand to 2.9 per
thousand and the diagnostic laboratories to grow by 20 to 25 per cent. There
will be an addition of 3,00,000 to 4,00,000 doctors and another 2,50,000 to
3,00,000 nurses.
It said the recent and planned actions by the Indian government to support in the biopharma industry in India is likely to continue to attract foreign investment as also encourage across industry, hospital and academia.
Rapid growth is expected in the Indian healthcare infrastructure to meet the increasing demand for healthcare services, with significant opportunities for ex-India businesses to fill the gaps, particularly in tier II and III cities.
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