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Healthcare Sector in India
Healthcare Sector in India
What is Health
Health is defined as a state of complete physical, mental and social well being and just not the non existence of disease or ailment. Health is a primary human right and has been accorded due importance by the Constitution Article 21 stresses upon state governments to safeguard the health and nutritional well being of the people, the central government also plays an active role in the sector.
Rise of disease
Another factor driving the growth of India s healthcare sector is a rise in both infectious and chronic diseases. This troubling trend can be attributed in part to substandard housing, inadequate water, sewage and waste management systems, a crumbling public health infrastructure.
Pharmaceuticals
Paralleling the rise of disease, is the emergence of a robust pharmaceutical industry in India. The Indian pharmaceutical market is one of the fastest growing markets in the world.
Deteriorating infrastructure
India s healthcare infrastructure has not kept pace with the economy s growth. The physical infrastructure is woefully inadequate to meet today s healthcare demands, much less tomorrow s . Healthcare delivery facilities are limited in their ability to drive healthcare standards because of the poor condition of the infrastructure in the vast majority of the country.
Medical Tourism
Medical Tourism refers to patients going to a different country for either an urgent or elective medical procedure It is fast becoming a multibillion-dollar industry Trade in global medical tourism was estimated at $20 billion and is expected to double by 2010 India has several advantages in favor of medical tourism like infrastructure, technology, cost effective medical care and hospitalization qualified and skilled doctors.
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By 2012 India is likely to become the top medical destination Source: CII
Clinical trials
India historically lacked the expertise to perform clinical trials, because most companies only tested different processes for producing copycat versions of Western products and the rules were quite lenient. However, in recent years, India has become a more attractive market for clinical testing. Government taxation incentives are further boosting R&D in India.
Pharmaceutical research
Pharmaceutical research is one area that is expected to achieve tremendous growth in the coming decade due to1. India s huge and growing population, 2. Low per capita drug usage, 3. increasing incidence of disease.
Manufacturing
India has emerged as a major supplier of several bulk drugs, producing these at lower prices compared to formulation producers worldwide. The US Food and Drug Administration (FDA) already has approved 85 Active Pharmaceutical Ingredient (API) and formulation plants in India, the highest such number outside the US. By 2012, India could be producing 15% of the world s bulk pharmaceuticals and drug intermediates.
Lack of insurance
A widespread lack of health insurance compounds the healthcare challenges that India faces. Only 11% of the population has any form of health insurance coverage. Only 1% of the population was covered by private health insurance in 2004-05. Clearly there is an urgent need to expand the health insurance net in India.
Challenges
Harmonize regulations within the country
Regulate the growth of trade in this sector
Reduce gaps in quality of care provided in both the public and private sectors
Standardize the quality of care
Conclusion
The challenges the sector faces are substantial, from the need to improve physical infrastructure to the necessity of providing health insurance and ensuring the availability of trained medical personnel. But the opportunities are equally compelling, from developing new infrastructure and providing medical equipment to delivering telemedicine solutions and conducting costeffective clinical trials.