India Hospital Market to grow at a formidable rate During the Forecast Period
Greater awareness along with
prevalence of lifestyle diseases to drive the growth of India hospital market
According
to TechSci Research report, “India
Hospital Market By Ownership (Public, Private and PPP), By Type (General,
Specialty, Multi- Speciality Hospitals), By Bed Capacity (Up to 100beds,
101-300beds, 301-700 Beds, Above 700 Beds), By Regionality (Regional, District,
Rural, Others), By Region, Forecast & Opportunities, 2025”, the India hospital market is forecasted to register a robust
CAGR during the forecast period. India, while accounting for around 18% of the
world population, disproportionately bears 20% of the global disease burden each
year. Therefore, growing prevalence of chronic diseases such as diabetes,
cardiovascular diseases, renal disorders, cancer, etc., among the population of
the country has drastically increased the patient pool and rate of
hospitalization. This in turn drives the growth of India hospitals market. Moreover,
adoption of advanced techniques and treatment options in the hospitals is
further expected to create lucrative opportunities for the market growth
through 2025. Furthermore, high penetration of health insurance and medical reimbursement
facility, that covers an individual’s hospitalization expenses incurred due to
sickness, is anticipated to aid the market growth. Along with this, favorable
government policies for encouraging FDI, tax benefits, have helped the hospital
industry to attract private equity, venture capitals and foreign players,
thereby bolstering the growth of India hospital market. However, costly new
technologies, expensive infrastructure, and operations cost might hamper the
market growth through 2025.
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The India
hospital market is segmented based on ownership, type, bed capacity,
regionality, company, company and region. Based on ownership, the market can be
split into public, private and PPP (Public Private Partnership’s). Out of these,
the public private partnership’s (PPPs) are gradually gaining acceptance, therefore
this segment is anticipated to grow at a high pace during the forecast period
as it increases the accessibility and availability of quality services along
with reduced cost of care. Based on type, the market can be fragmented into general,
specialty and multi- specialty hospitals. Here, the specialty hospitals segment
dominated the market until 2019 which can be attributed to the fact that specialized
hospitals can draw large volumes, thereby reducing costs and improving the
quality of the services provided, resulting in higher percentage of patient
satisfaction. In terms of bed capacity, the market is categorized into up to
100beds, 101-300beds, 301-700 beds and above 700 beds. Among these, the 301-700
beds segment holds significant share in the market on account of presence of
high number of hospitals in the country with this number of bed capacity. Also,
above 700 beds capacity segment is expected to register high growth during the
forecast period which is accredited to increasing population affected with
COVID- 19.
Max Healthcare Institute, Shalby, Lilavati Hospital, Sir Gangaram
Hospital, Fortis Healthcare Limited, Aims, Medanta Medicity, Apollo Hospitals
Enterprise Limited, Tata Memorial Center, Kokilaben Hospital and others are
some of the leading players operating in India hospital market.
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“India hospital market is expected to grow
at an impressive rate during the forecast period, owing to the availability of
favourable policies, demographic transition along with changing consumer
lifestyle. Additionally, growing geriatric population on account of the
sedentary lifestyle coupled with increasing incidence of non-communicable
diseases is further expected to spur the market growth. Furthermore, surging government
investments on healthcare infrastructure are expected to create lucrative
opportunities for the market growth.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based India management consulting
firm.
“India Hospital Market By Ownership (Public, Private
and PPP), By Type (General, Specialty, Multi- Speciality Hospitals), By Bed
Capacity (Up to 100beds, 101-300beds, 301-700 Beds, Above 700 Beds), By
Regionality (Regional, District, Rural, Others), By Region, Forecast &
Opportunities, 2025”, has evaluated the future growth potential of India hospital
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India hospital market.
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