A STUDY ON INDIAN HEALTH CARE INDUSTRY
The report is based on healthcare industry and deals with the analysis of the industry on various parameters. It gives an overview of the industry and goes on to test the healthcare industry further in the subsequent chapters. The focus of the report is getting an over view of the health services market, its policy framework, the business models of the hospital and technological developments in the healthcare sector. The report also compares the Indian healthcare industry with the U.S.A healthcare industry which is much more developed healthcare industry; this will help us recognize the gaps in the Indian healthcare industry. The report has taken two of the India’s important healthcare service providers i.e. Narayana Hrudayalaya and Apollo Hospitals into its analysis. Where Narayana Hrudayalaya on one hand has achieved the pinnacle in providing affordable and quality healthcare to the masses, Apollo Hospitals on the other hand is the leading player in India in the field of healthcare. The report also discusses the future of the Indian healthcare industry and gives an overview about the effects of the various steps taken and where is the Indian healthcare sector heading. This will give us an idea about what measures should be taken to further improve the state of the Indian healthcare.
Healthcare began as a purely reactionary, medicinal practice, in which people learned the medicinal properties of plants through trial and error, and then passed on that knowledge to others. It later became a subject of purposeful study by many different cultures, including the Persian, Egyptian, Greco-Roman, Indian, and Chinese cultures. In the 19th century, there were numerous technological, chemical, and biological advances that gave physicians the means to better understand, diagnose, and treat ailments. The discoveries included anesthetics, syringes, antiseptics, x-rays, and penicillin. Around the beginning of the 20th century, modern healthcare began to evolve. Doctors started to initiate prepaid arrangements for their services, foreshadowing the medical insurance and administration field that is in place today. 1.2. GLOBAL SCENARIO
Globally, the industry is amongst fastest growing sectors, with approximate revenues of USD 5.5 trillion in 2010. Per capita spending on healthcare is expected to grow at 4-7% annually till 2013.
Global healthcare equipment industry grew at 6.8% annually from 2004 to 2008 to USD 296 billion by 2013.
The world healthcare IT market is expected to grow from $99.6 billion in 2010 to $162.2 billion in 2015, at a CAGR of 10.2% from 2010 to 2015. (Source crisil)
1.2.1. COMPARISION OF HEALTHCARE SPENDING:
If you look into the graph, it represents the contribution towards healthcare by public and private sectors in different countries. U.K is the only country where public sector spends more on healthcare than private sector whereas in India the ratio between public and private sector was 26.20% to 73.80% in 2010
Figure: 1. Health care spending by different countries [ Source: WHO World Health Statistics 2010]
In 2012 it is 20% to 80% it indicates the growth in private sector companies in healthcare and government lacking its improvement. The Indian healthcare spend is less than half the global average in percentage terms when compared on a percent of GDP basis.
1.3. FOREIGN DIRECT INVESTMENT
There are currently limited numbers of 100 percent foreign world healthcare players in India market. This scenario expected to change given the attractiveness of the sector. India represents a splendid investment opportunity in the healthcare sector with ever-growing population and the continued rise in the number of diseases.
Bibliography: “Healthcare Services in India 2012:The Path Ahead”, a report by ASSOCHAM and YES Bank, 2009
Rupa Chanda, “ Foreign Investment in Hospitals in India: Status and Implications”
“Healthcare Services in India 2012:The Path Ahead”, a report by ASSOCHAM and YES Bank, 2009
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