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- Responsiveness on queries and communication: Very responsive. Responses to our questions,
submission of reports and revisions to the reports were done in a timely manner
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Indian Healthcare Industry
ADVANTAGE INDIA - The Key Growth Drivers
- 300 million strong upper middle and middle class population
- Low cost facilities with very high quality of healthcare services
- Substantial reduction in import tariffs
- Easy availability of technical/skilled/qualified and skilled manpower
- Strong information technology backbone and skill base
- Rise of income in the last 14 years
- Changing lifestyle patterns are creating market for preventive and curative
care opportunities·
- English language - key business language and spoken, written, understood extensively
- Liberalized government business policies·
- Private & Foreign Investment in life and health insurance·
- Heterogeneous population·
- Well-established legal system
- Dynamic stock markets
- Increase in private and government spending in the healthcare sector
- Low entry barriers for Well qualified/Experienced Scientific Manpower available
at lower costs Commonwealth based legal system.
- Investor friendly laws.
- Excellent pool of doctors/specialists.
- Well preserved genetically distinct population groups.
- Wide Spectrum of Disease Profile/Patient Profile.
- English is the key business language widely used across the country.
- Excellent application of IT skills & knowledge of IT amongst target segment.
- Presence of large number of international and domestic healthcare/pharmaceutical
companies.
- Well established Western Medicine practice.
- Networks of academic & medical centers/hospitals/laboratories with international
accreditations.
- Doing business in India is easier than many Asian countries.
- Lower cost of business in operations.
- Familiarity with international quality
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Why India
- India spends US$23 billion – 5.5 per cent of its GDP on healthcare.
This is comparable with most other developing countries, which spend between 5 and
7 per cent of their GDP on healthcare. This expenditure will double by 2012.
- This growth will be driven by the phenomenal rise in lifestyle diseases, especially
cancer, diabetes and cardiovascular disease. Growth rate is 18% a year.
- People are spending more on the healthcare. 80% spending in healthcare is
the private out of pocket spending.
- Role of Insurance is increasing rapidly, with the entry of private and foreign
insurers.
- Investor Friendly business environment. Friendly foreign investment and dividend
repatriation laws.
- Foreign investment is allowed in all healthcare sector. 100% foreign investment
projects receive approvals without delay or even cleared under automatic schemes.
- To meet the demand for healthcare in 2012 and improve the availability of
hospitals beds and doctors, the infrastructure will need to improve significantly.
Around 750,000 additional beds will need to be added to the existing base of 1.5
million beds. An additional 520000 physicians will be required over and above the
numbers that will be added through existing medical colleges, to each a ration of
1 allopathic practitioner per thousand people.
- Creating this infrastructure will require investments in hospitals (secondary
and tertiary), medical colleges, nursing schools and hospitals management schools.
We estimate that creating this capacity will require US$20 – 30 billion over
the next 10 years. After taking into account the expected capital investment by
government and multilaterial agencies during this period, we believe that almost
80 per cent of this amount will need to come from the private sector.
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