It’s not just China anymore. India is also becoming attractive to small and large U.S. healthcare companies.
The demand for better quality and more efficient healthcare from India’s growing middle class is leading private hospitals and healthcare providers to invest in healthcare infrastructure and services, according to a new report from U.K-based healthcare business intelligence firm Espicom.
A Path to Healing: Discovering Arizona’s PTSD Treatment Centers
Explore top PTSD treatment centers in Arizona, offering personalized care, holistic therapies and expert support to help individuals heal and reclaim their lives.
The report states that two-thirds of the $69 billion expenditure on healthcare in India in 2010 was made by the private sector. Espicom projects that in 2015, healthcare expenditure in India will nearly double to $129.8 billion. Private sector expenditure will account for just under 70 percent of that.
“Growth in the private provision of health will continue to be the driver of the Indian health market,” said Karen Holmes, senior health analyst at Espicom and the report’s author, in a news release. “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.”
In fact, private hospital chains like Max Healthcare and Apollo Hospitals added the most new beds added in the past several years.
In an email, Holmes explained that India’s regional healthcare markets are quite different and represent different levels of opportunity for Western companies.
What Are Healthcare Organizations Getting Wrong about Email Security?
A new report by Paubox calls for healthcare IT leaders to dispose of outdated assumptions about email security and address the challenges of evolving cybersecurity threats.
“South and West India generally have higher-than-average GDP, together with lower-than-average birth rates and a relatively high proportion of the population is aged over 60,” Holmes said. “I think the private sector healthcare providers will continue to be attracted to these areas in the future, especially to major urban areas like Chennai and Mumbai. In the north, there will also be growth in Delhi as the nation’s capital, and some of the more prosperous areas in the region.”
Although most of the populous nation’s people reside in rural areas, Holmes believes the barriers to targeting that population is too high.
“The problems with trying to serve India’s rural population may prove too great for most western companies. Geography can be a problem, with many villages being inaccessible by major roads. There are also likely to be problems of acceptance.