Healthcare Market India Indian Healthcare Market Expects a 14% Growth Within Coming Years
A new report, ''Indian Healthcare - New Avenues for Growth'', by industry analyst RNCOS, acknowledges the Indian healthcare a robust double digit growth wthin the last years.
Singapore – According to RNCOS, upporting factors like the growing population, private investments or government support have boosted the market to reach a total volume of $69 billion in 2010. Analysts expect the industry to witness a good growth rate pattern in near future. Health insurance penetration is increasing and people are more aware about their health needs. A growth by 14 percent until 2013 and sales volumes of $103 billion are expected by RNCOS.
Trends of the Indian Healthcare Market
Especially pharmaceutical outsourcing, health insurance, and medical tourism are predicted to drive the Indian healthcare market in the future. The availability of world-class infrastructure and skilled personnel makes India attractive for patients from abroad. The report predicts around 1,299,000 medical tourists by 2013 to visit India, bringing in revenue worth nearly $ 3024 million.
Other market segments like medical equipment, e-health, and healthcare service among others are doing well. The market for e-health is (though being a small market in India) said to be an untapped potential by the analysts. Companies have recently recognized this potential and invested in new technologies to strengthen medical infrastructure and service. Also hospital services and a significant rise in household spending on healthcare are expected to have an important influence in this sector.