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Health care has become one of the major backbones of Indian economy.  Healthcare industries in India comprises of governmentand private hospitals, clinics, medical tourism, outsourcing and medical equipment.

Growth

Regarding the market size, the healthcare market is predicted to grow three fold by 2022 and become major economic booster for the country. The medical tourism in the country sees vast amount of potential as more and more enterprise and government is recognising it as a profitable sector. Healthcare spending as a percentage of gross domestic products (GDP) is rising. And the government is planning to increase the spending by 2.5per cent of the GD by 2025. India is also very cost effective compared to the western healthcare world. Health insurance is swiftly gaining momentum in India. The hospitals and diagnostic centres in India continue to attract a large amount of foreign direct investment.

Scope

India can be one of the key players in global medical healthcare if proper steps are taken. Healthcare market is expected to reach near 380 billion US dollars by 2022 at this rate. The country is also becoming one of the favourite destinations for high-end diagnostic devices. The medical tourism sector in India is booming, thanks to its cost effective medical services and a low cost of living index. Healthcare sector in the country is diverse and full of opportunities. Our chain of hospitals and medical services

Challenges

We have miles to go in achieving a perfect healthcare system. The country needs more qualified and dedicated medical staff and better hospital amenities in rural areas. We must work towards a seamless system and a better flow of services. A drawback of India’s healthcare system is its neglect towards rural population. We must take necessary steps to make sure proper medical services are accessible to everyone equally. The country also needs to invest on more research and explore the scope of incorporating cultural medicinal systems like Ayurveda in modern medicine.

Our healthcare industry requires careful and creative strategies from the government’s side and active investment and aid of large private enterprises. We also need to proper implementation of those plans with equal treatment towards its masses in mind.