The Indian healthcare sector is predicted to reach US$ 280 billion by 2020, contributing an expected Gross Domestic Product (GDP) spend of 8 per cent by 2012 from 5.5 per cent in 2009, according to a report by an industry body. Growing population, increasing lifestyle related health issues, cheaper treatment costs, thrust in medical tourism, improving health insurance penetration, increasing disposable income, government initiatives and focus on Public Private Partnership (PPP) models are some of the driving factors for the growth of healthcare sector in India.
- India would require another 1.75 million beds by the end of 2025 to reach a ratio of two beds per 1000 population.
- An additional 0.7 million doctors are needed to reach a doctor population ratio of 1:1000 by 2025.
- Although the health insurance sector is projected to grow to US$3.8 billion, the health insurance penetration rate still has a lot more scope to grow with only 2 per cent of the total population being insured at present.
- Hospitals chain Apollo Hospitals Enterprise Ltd plans to invest around US$ 204.04 million- US$ 226.70 million over the next two years.
- Wockhardt Hospitals plans to invest up to US$ 158.32 million to double its bed capacity to 2,000 by 2013.
- Hospitals chain Fortis Healthcare plans to invest US$ 146.81 million and add 2,100 new beds.
- The BCG Group plans to build a multidisciplinary health facility, BCG Healthsquare in Palarivattam in Kochi, Kerala, by August 2011. The company’s long-term plan is to set a 750,000 sq ft health village with an estimated cost of US$ 88.91 million.
- GE Healthcare will invest US$ 50 million to set up more facilities for developing diagnostic services.
- Manipal Hospitals plans to invest US$ 45.23 million in the next three years to double its capacity to 8,000 beds.
Hidden Gem - Oct 2011: