In the terms of revenue and employment, Healthcare is one of the largest and vast sectors of India, and the Healthcare Industry comprises the Pharma, Biotech, Hospitals, Clinical Trials, Outsourcing, Medical Equipment, Medical Devices, Health Insurance, and Medical Tourism. The Indian healthcare division is expanding at a brisk pace due to its strengthening coverage, services and rising expenditure by public as well private players. India’s competing authority lies in its large pool of well-trained medical specialists. India is also cost effective compared to its peers in rest of the Asia and Western nations. The cost of surgery in India is around one-tenth of that in the US or Western Europe.
Today, the Indian healthcare market is meriting US$ 100 billion and is expected to grow to US$ 280 billion by 2020 and a Compound Annual Growth Rate aka CAGR of 22.9 %. Healthcare services like hospitals, nursing shelters, diagnostics centers and pharmaceuticals constitute 65% of the total healthcare market. There is still a significant opportunity for enhancing healthcare considering that healthcare spending as a percentage of Gross Domestic Product (GDP) is rising. Rural India in total accounts for over 70% of the total country population is set to emerge as a potential demand source.
India is still in need of 600,000 to 700,000 additional beds over the next five to six years, indicative of an investment opportunity of US$ 25-30 billion.The average investment size by private equity funds in healthcare chains has already increased to US$ 20-30 million from US$ 5-15 million, as per PriceWaterHouseCoopers.
The dire need for proficient healthcare solution providers has made us look out for “The 20 Most Admired Healthcare Solution Providers 2018.” On our cover page we have Dr. Charudutt Apte, Chairman & Managing Director of Sahyadri Hospitals Ltd. since January, 2004. He is responsible for Sahyadri Hospital’s management and also oversees the hospital’s activities while initiating unique targets and achieving accomplishments at various levels. Sahyadri Group of Hospitals started its journey of possibilities towards making world-class healthcare available in Western India. Sahyadri Hospitals is not just known for being the largest chain of hospitals in Maharashtra, but also for the approach, where it brings in the best of experts in multiple specialities and the most advanced technologies to provide a ray of hope—to give people the lifeline of possibilities, even in the most difficult cases.
So, flip through the amazing folios for insights on organizations striving hard to keep-up with the technological disruption in the healthcare industry. Find out more about the trends in the industry through articles on ‘Health Insights: Digital Health: A New Era for the Human Progress’ and ‘Tech-N-Trends: Hospital Wi-Fi: Making Healthcare Smarter’ drafted by our in-house editors for this special issue.
Let’s get started then!