Chichester, West Sussex, UK (PRWEB) May 29, 2012
According to a new Espicom report, Understanding India’s Regional Health Markets, India’s market for medical technology and pharmaceuticals will grow faster in non government owned health facilities.
The development and growth of private health provision can be seen across the country. While the vast majority of primary care is undertaken at government health centres and dispensaries, the needs of the growing private sector are being answered by a number of private general practitioners/clinics. In the secondary health sector, public hospitals are more widespread than private hospitals, but, with some exceptions, have a reputation for inefficiency, being poorly maintained and having long waiting lists. India’s growing middle classes are, therefore, increasingly becoming attracted to private healthcare providers. Over the last few years an estimated 95% of new hospital beds have been in the private sector.
It all comes down to money. Total health expenditure was estimated Rs.3,177 billion (US$69.5 billion) in 2010, equivalent to 4% of GDP and per capita spending was around US$59. However, more than two thirds of the total was contributed by the private sector.
With government budget plans capping state investment, the trend toward the increased private provision of health is likely to continue. Companies such as the Apollo Hospitals Group and Max India are promoting and constructing of a number of hospitals. These are advanced facilities, equipped to Western standards and capable of undertaking complex procedures. It is hoped by the operators that the best of India’s private hospitals will attract an increasing number of private patients from overseas.
Karen Holmes, senior health analyst at Espicom and the report’s author comments “Growth in the private provision of health will continue to be the driver of the Indian health market. The expansion of good quality private health facilities is an opportunity for western companies. India is unable to meet the increasing demand for the latest high-tech medical technology and drugs”.
For further information on the report please visit http://www.espicom.com/rimpr
Espicom Business Intelligence is a leading publisher of medical and pharmaceutical market analysis. With over 50,000 users worldwide it reports, news services and analysis products are used regularly by key decision makers in industry, government and commerce. A full catalogue can be found on the web at http://www.espicom.com.
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