Indian Healthcare Market on a Fast Growth Path
Backed by factors, like improving awareness and increasing health insurance penetration, the Indian healthcare market is likely to grow at the CAGR of 14% during 2010-2013.
- (1888PressRelease) February 28, 2011 - According to our latest report entitled "Indian Healthcare - New Avenues for Growth", the healthcare industry in India has been witnessing a robust double-digit growth rate for the past few years. Factors, such as growing population, significant private sector investments, and government support in the form of significant spending have boosted the Indian healthcare market to reach US$ 69 Billion in 2010. It is estimated that the industry will witness a good growth rate pattern in near future mainly due to the fact that, health insurance penetration is increasing and people are more aware about their health needs. The market is likely to grow at the CAGR of 14% during 2010-2013 to reach US$ 103 Billion.
Our report has found that the pharmaceutical outsourcing, health insurance, and medical tourism are the sectors that will drive Indian healthcare market in future. Due to the availability of world-class healthcare infrastructure and skilled professionals, the number of patients visiting India has been increasing for the past few years. It is expected that by 2013, around 1,299,000 medical tourists will visit India, bringing in revenue worth nearly US$ 3024 Million.
Other industry segments, such as medical equipments, e-health, and healthcare services among others are also showing good performance. Though the market for e-health in India is small, there is a large untapped potential. Market players have recognized the opportunity and therefore, they are brining innovative technologies to strengthen medical infrastructure and service. Hospital services also constitute an important part of the overall industry and a significant rise in household spending on healthcare is likely to boost this segment.
The report "Indian Healthcare - New Avenues for Growth", is an outcome of an in- depth research and prudent analysis of the Indian healthcare market. The report identifies almost every market segment and broadly analyzes each aspect of the respective segments. Forecasts in various sections make use of reliable methods and techniques that seek to make outlook more realistic. Overall, the report is likely to facilitate investment and other industry related decision making of clients.
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