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Latest Developments in the Healthcare Sector in India

17^th Feb 2017 |

After the independence, numerous advancements have been to our healthcare system. Medical researchers have been participating in national and international conferences and discussing on different aspects of the system. These aspects include e-health, remote surgeries, robotic operations, Aadhaar integration, promotion of generic drugs, autosutures, and so forth. With no hind of doubt, we can say that these aspects would be a reality by 2020.
Some reliable data reveal that the healthcare sector is expected to grow by $280 million during 2015-20, with a phenomenal compound annual growth rate (CAGR) of 22.9 percent. A significant rise in annual income, health awareness, improved access to insurance and advanced healthcare sector in India would be the decisive contributors to this growth. The private sector has also played a vital role to develop health care industry in India, bring it both national and international repute. It accounts for about 74% of India’s total healthcare expenditure.
Telemedicine is a latest and rapidly emerging trend in the country and major hospitals, such as AIMS and Apollo, have adopted telemedicine services and made entry into several public-private partnerships (PPP). Apollo has opened a number of service centers across India and is doing over 7,000 remote patient-doctor consultations over call or video each day.
At present, Indian telemedicine market is worth $7.5 million and is expected to reach 14.7 million by the end of 2017- with a CAGR of 20 percent. The emergence of state of the art medical facilities and world-class medical professionals, India has become a preferred destination for medical tourism. The Government of India is taking major steps to speed up healthcare development in India and develop the nation as a global healthcare hub. The National Health Mission (NHM) is designed and creative with a goal of providing effective healthcare to both rural and urban population. The government is also supporting the industry through reduced excise duty, and exemption in service tax. (Source: IBEF)
There is no denying that despite putting some great efforts, we, in India, still have a dearth of doctors. And, development in the medical field and providing quality treatment are big challenges. In order to resolve these issues, tech-giants have floated ‘Project Hanover’ which is aimed at helping the practitioners to narrow their search for the right drug regime and suggest most effective treatments.
Along with these, the trend of app-based online doctor consultation has also become prominent and startups are using these apps in large numbers. The above mentioned trends show a tremendous change in the mode of treatment, consultations, and healthcare patterns. Therefore, a medical expert or a hospital owner is required to known about these essential changes.
To seek help regarding the marketing & branding of your hospital, you can meet Dr Vikram Singh Raghuvanshi. Being an acclaimed healthcare leader, expert and consultant, Dr. Raghuvanshi serves you with hospital planning and designing, operation and information system, business planning strategy, marketing & branding, data analytics etc.
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