Indian hospital market faces a
critical crunch in the number of hospital beds in comparison to the demand it
faces. The hospital market in India has strong growth potential that is
characterized by continual possibility of growth. Persistent growth in
population necessitates the growth in both public as well as private hospital
facilities to cater to population of varied economic standards residing in the
country.
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A gradual trend is being observed in
terms of demand for quality healthcare service within the hospital market. This
is not only because of changing nature of Indian patient population but also
due to the booming medical tourism that India is currently catering to. As a
result of these, the sector is attracting good amount of foreign investments or
foreign hospital chains establishing business in the country. The Indian government
is also undertaking numerous initiatives including tax incentives and budget
allocations that would aid in investment inflow and betterment of the market.
Indian entrepreneurs are bringing in
innovation within the hospital business by revolutionizing the approach towards
healthcare delivery. Initiatives are being taken to penetrate smaller cities
and towns where the private sector was hesitant to penetrate even a few years
back. Primary and secondary care is being offered through specialty clinics or
smaller hospitals specializing in few key areas to reduce their cost of
operation yet increase revenue by carrying out more number of the selected few
procedures. On the other hand, mobile hospitals and telemedicine is being
popularized to reach patient population in rural and urban slum areas for
delivering immediate healthcare services.
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