Art of ‘healthy’ living...

IIPM MANAGEMENT INSTITUTE

No doubt, at relative per capita levels, the healthcare & the pharmaceutical sectors provide perhaps the cheapest products and services; but that’s not all...

Providing people adequate healthcare was never as important as it is today, as we need an able population for our socio-economic sustenance. Considering the fact that India spends only 5-6% of its $720 billion worth GDP on healthcare, wonder why we do not talk about health so much?

According to the India Brand Equity Foundation, in a country of 1,000 million people, there are only 870,161 hospital beds in a meagre 5,097 hospitals. Well, if you think that all is lost and nothing can save Indians medically, then wait for some more surprises. On a totally contrary plain, India is home to the best medical facilities in the world. Growing at an enviable 25% annually, medical tourism in India is worth an ever burgeoning $350 million and is expected to reach an estimated $2 billion within the next six years. Riding on unbelievable cost advantages over its developed cousins, India has obliterated competition with skilled and contemporary manpower-technology combination. Considering a cost advantage of a mindnumbing 361.5% for a bypass surgery over USA, the foreign demand for Indian healthcare has been on a relentless surge. Capitalising on the opportunity, a number of high profile foreign-domestic investors are making a beeline for the Indian healthcare sector. Indian heavyweights like Wockhardt, Ranbaxy (Max Healthcare, Fortis), Apollo & now the Hindujas have big investments to the tune of $1 billion lined up. Besides, companies are all set to go global and on the radar are destinations as far as the US, the UK and Mauritius, with countries in West and southeast Asia in between.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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