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Healthcare and Hospital Industr1

Healthcare and Hospital Industr1

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health care and hospital industry
health care and hospital industry

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Published by: Shashank Shrivastava on May 27, 2013
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11/16/2013

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With global revenues of approximately US$ 2.8 trillion, the healthcare
industry is the world’s largest industry and India is emerging as a major
player in this industry, because of its high population.
As per the Insurance Regulatory and Development Authority (IRDA), the
Indian healthcare industry has the potential to show the same exponential
growth that the software and pharmaceutical industries have shown in the
past decade. Further, as per the IRDA, only 10 percent of the market
potential has been tapped till date and market studies indicate a 35 percent
growthin

thecomingyears.
A big opportunity for the industry emerges from the privatisation of the
insurance segment, which would extrapolate into a new delivery system in
India. There is a vast insurable population in India, given that only 2 million
people ie 0.2 percent of the total population are covered under Mediclaim.
According to a recent study, there are 315 million potentially insurable lives
in the country.

A World Health Organisation report states that India needs to add 80,000
hospital beds each year to meet the demand of its population. The huge
shortage of beds outlines a major opportunity for the industry.
The healthcare industry is a fast growing industry and coupled with
strength of Indian innovative and scientific manpower and also low costs, it
is slowly achieving key industry status in India.

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