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| Why India ? |
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Indian Healthcare Sector is growing at a frenetic pace. |
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India will spend USD 45.76 billion on healthcare in next five years. |
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Revenues from healthcare sector account for 5.2% of GDP. |
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Coupled with pharmaceutical sector, the total healthcare market could increase to USD 53-73 billion. |
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India is an interesting geography for several global drug majors who are attracted by the huge talent pool, scientific skills and cheap labor that has enabled Indian companies manufacture drugs at about a third of the cost in the West. |
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Medical Tourism has pegged at USD 350 million and will grow proportionally to USD 2 billion by 2012. |
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India has the fastest growing healthcare IT market in Asia, with an expected growth rate of 22%. |
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Healthcare spending in country will double over the next 10 years. |
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Govt. has allowed foreign direct investment up to 51% in hospital services and up to 26% in healthcare insurance. |
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Foreign investment has been allowed in all sectors of healthcare in India. |
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Govt. has reduced custom duty on medical equipments by 5%. |
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Import duty on life saving equipment has been reduced from 25% to 5%. |
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The rising standard of living along with increased purchasing power and willingness to pay for quality healthcare has led to the emergence of high quality corporate hospitals. |
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Changing lifestyle patterns has created a market for preventive and curative care opportunities. |
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Healthcare costs in India are about 1/10 of those in other countries. |
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Low cost health facilities with very high quality of healthcare services are now available in India. |
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Increasing number of tertiary care hospitals have led to increased demands of medical equipment. |
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Special Economic Zones have been set up by govt. with large range of incentives including low tariffs and barriers, exemption from taxation etc. |
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Under the SEZ Act 2005 “Healthcare” has been defined as an approved service & With the latest approvals, given by an inter-ministerial Board of Approval, the total number of formally approved SEZ is now at 395, of which,154 have been notified by the Law ministry. |
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Presence of a large number of international and domestic healthcare/pharmaceutical companies is another reason for growth and development. |
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Pool of doctors and healthcare specialists is an added advantage. |
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Leading business and healthcare providers are also striving to make India an international health resort, with an airport to airport concept of health tourism. |
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India has huge network of medical centers/hospitals/laboratories etc with various international accreditations. |
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Indian health insurance business is fast growing at 50 per cent and is expected to continue growing at this pace. The sector is projected to grow to US$ 5.75 billion by 2010. |
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India has become a popular medical tourist destination with huge rise in the number of medical tourists to the country, which has increased more than ten-fold since 2000. |
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Indian hospitals are fast becoming the first choice for an increasing number of foreign tourists. Over 2, 00,000 medical tourists traveled to India in 2007 alone, bringing in earnings of about US$ 500 million and the figure is expected to grow by 50 percent this year. |
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India's growing reputation as a major medical tourism destination is attracting more and more visitors from Gulf countries with many travel agents now offering packages combining treatment with a vacation. |
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India’s medical tourism market to touch $2 billion mark by 2010 |
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Investments into the medical and surgical instruments segment amount to US$ 115.29 million over the period August 1991 to April 2007. A recent study has predicted 15-20 per cent growth for the Indian medical equipment market and estimated market size to be about US$ 5 billion by 2012. |
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India is emerging as a low cost base of manufacturing medical devices for the global healthcare market. |
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India has the fastest growing healthcare IT market in Asia, with an expected growth rate of 22 per cent, followed closely by China and Vietnam. In fact, the Indian healthcare technology market is poised to be worth more than US$ 254 million by 2012. |
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Import growth has consistently been in double figures since 2002 and the total value of medical imports has almost doubled. In 2006,imports of medical equipment and supplies were valued at US$1,125.8 million, an increase of 21.7% over 2005 |
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A new category of visa "Medical Visa" ('M'-Visa) has been introduced which can be given for a specific purpose to foreign tourists coming into India. |
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The opportunities presented by the healthcare sector have made it a major draw for potential investors. The healthcare sector attracted US$ 379 million in 2007- 6.8 percent of the total private equity (PE) investment of US$ 5.93 billion. |
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Health cities: Evolving concept of Healthcare in India, such as, MIOT Hospitals, Reliance ADAG’s project, CMCH, etc. |
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Hospotels: The potential novel concept is emerging as new opportunity for upcoming business ventures. |
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