Indian Healthcare Market & Public Spend (Billion USD)
Key Challenges
Awareness :- Only 20% of Indians are aware of common causes of prevalent illness and their preventions. Only 43% of Indians are aware of Health insurance.
Access :- Only 37% of Indians have access to hospitals within a 5km radius from their house
Affordability :- Majority of the Indian population is living below the poverty line (BPL)–the ability to spend Rs 47 per day in urban areas and Rs 32 per day in rural areas
Accountability :- Lack of accountability on the part of healthcare workers in rural areas has lead to 67% of the rural population avoiding hospitals and preferring alternate methods.
Key Factors Affecting Healthcare Industry
Consolidations of Hospitals :- India’s healthcare infrastructure has been unable to keep pace with the demand. This led to creating a huge void in demand and supply of service and a growing capital demand due to an increase in operational costs and technology acquisitions.
Rise of Income levels :- There has been a tremendous growth in secondary and tertiary care hospitals in non metro cities with per capita income of the people increasing significantly. This has been further boosted due to Covid-19 which has created a behavioral change.
mpact of Technological Advances :- Operating costs have a significant impact on the P&L of any healthcare firm. Digital transformation has not only reduced operating costs but also has put focus on value creatio