Healthcare in India is a booming industry in terms of revenue and employment. Whether it is about providing quality service to patients, or quality life to employers, the sector has seen holistic growth.

An Overview

Healthcare isn’t just about hospitals. It is a wide spectrum comprising clinical trials, medical devices, telemedicine, outsourcing, medical tourism, insurance, etc. The Indian medical system is mostly divided into two parts: the public and the private sector. The public healthcare system comprises secondary and tertiary institutions in important cities providing very basic healthcare facilities within primary health centers in rural areas. India contains a large pool of well-trained medical professionals. It also happens to be cost-competitive compared to its Asian peers and Western countries. The surgery price in India is simply one-tenth of the identical within the US or Western Europe.

Market size

By 2022 the healthcare sector in India is predicted to grow threefold and reach 8.6 trillion. The country’s public expenditure on healthcare accounted for 12% of the country’s GDP. The growing class and the increase in new diseases are completely boosting the demand for insurance. Attributable to the demand for affordable and quality healthcare, the requirement for insurance is anticipated to expand within the coming years.

Our commendable work during the Pandemic: The Indian medical tourism market is well worth the US $ 2.89 billion as of 2020. it’s expected to succeed in the US $ 13.42 billion by 2026. Some of the important initiatives taken by the govt of India to market Indian healthcare globally are as follows. In Sep 2021, while speaking at the worldwide COVID-19 summit, Prime Minister Mr. Narendra Modi said that India had shared its vaccine production with 95 countries and, therefore, the UN housekeepers.

An inclination towards Ayurveda: In 2021 itself, Modi launched the Aysushman Bharat Digital mission. This is often intended to attach the digital health solutions of hospitals across the country with one another.

A credit incentive program in the near future: According to a spokesperson, the Indian government is gearing up to introduce a credit incentive program worth Rs. Five hundred billion (US$ 6.8 billion) to spice up the country’s healthcare infrastructure. The program will help firms leverage the fund to expand hospital capacity or medical supplies, and the government contributes towards strengthening COVID-19-related health infrastructure in smaller towns.

Conclusion

India is filled with opportunities for people who wish to pursue a career in the healthcare industry. We have become a number one destination for high-end diagnostic services and advanced diagnostic facilities. There has also been a surge in Indian youth choosing medicine as their profession.

If you are one such person, IIHMR Delhi offers a 2-year full-time PGDM in hospital and health management with a specialization in Health Management, Health Information technology, and Hospital Management. Our experienced and veteran faculty helps students make the most of their time with the institute and help them get assured placements with the topmost players in the industry.