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Dr. M A Kamal

March-April, 2011

India’s Healthcare Sector To Touch $77 Billion By 2012

India’s healthcare sector is projected to grow at 23% annually to become a $77-billion industry.

The report, jointly prepared by the Associated Chambers of Commerce and Industry (Assocham) and Yes Bank, says that India’s healthcare industry has grown at 9.3% per annum during 2000-09.

“Driven by various catalysts such as increasing population, rising income levels, changing demographics and illness profile, the healthcare industry is expected to move to levels of $77 billion in the next three years.

Healthcare services sector includes firms that are dependent upon and provide corollary services to hospitals, and is currently approximated at $1 billion. According to Yes Bank and Assocham, diagnostics would add $2.5 billion to the healthcare industry by 2012.

A mounting number of public and private healthcare facilities are expected to push demand for the industry, accounting for another $6.7 billion in this period.

With a rising demand for affordable quality healthcare, the penetration of health insurance is poised to experience an exponential growth to emerge as a $3-billion industry in the next three years.

“However, the corresponding growth in health infrastructure is yet to match the basic healthcare facilities in many other countries. For instance, the present number of nine beds per 10,000 people in India is far behind the world average of 40 beds per 10,000

 

 

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