Healthcare industry in India Meenakshi A.*, Lecturer in Commerce *Avinashilingam Institute for Home Science and Higher Education for Women, Coimbatore – 43. Online published on 3 January, 2012. Abstract India's rapid growth has brought about a health transition in terms of shifting demographics, socioeconomic transformations and changes in disease patterns. The healthcare industry includes medical care providers, physicians, specialist clinics, nursing homes, hospitals, medical diagnostic centers and pathology laboratories. In terms of revenue and employment, healthcare is one of India's largest service-sector industries. India's healthcare sector has been growing rapidly and estimated to be worth US$ 40 billion by 2012. The Indian healthcare market is currently estimated at US$ 34.2 billion. The market has grown from US$ 22.8 billion in the year 2005, at a CAGR of 16% and is expected to grow to US$ 50.2 billion and US$ 78.6 billion by 2011 and 2016 respectively. India has the fastest growing healthcare IT market in Asia, with an expected growth rate of 22 per cent, followed closely by China and Vietnam. In fact, the Indian healthcare technology market is poised to be worth more than US$ 254 million by 2012. The government's share in the healthcare delivery market is 20 percent while 80 percent is with the private sector. Private players have made significant investments in setting up state-of-the-art private hospitals in cities like Mumbai, New Delhi, Chennai and Hyderabad. The following are the major domestic private healthcare providers in India are Apollo Hospitals, The Escorts Group, Fortis Healthcare, Max Healthcare, Wockhardt, etc., India needs USD 50 billion annually for the next 20 years. India needs to add 2 million beds to the existing 1.1 million by 2027, and requires immediate investments of USD 82 billion PE has definitely become the preferred mode of investment. We also believe that there could be consolidation of smaller players through acquisition by larger players who have a strong sales, distribution and support network. Top |