Indian Healthcare Industry
Health is the vital component in economy growth and internal stability of the country. It is the essential component of nation’s development.
The Indian Healthcare system includes nursing homes, hospitals, medical diagnostic centres, pathology laboratories, paramedical institutions, physicians etc. India has built up a vast health infrastructure for public, voluntary and private sectors.
Now, Healthcare becomes one of the India’s largest service industry, in terms of employment and revenue. During 1990s, Indian healthcare services grew at an annual rate of 16%. In the year 2009, the total value of sector was even more than $35 billion. By 2012, this sector grows nearly upto $70 billion.
- The healthcare market in India is expected to reach upto $372 billion by 2022.
- The Indian Government aims to increase the healthcare by spending 3% of GDP (Gross Domestic Product) by 2022.
- Ayushman Bharat was launched on 23rd September 2018, which is known as the world’s largest government funded healthcare scheme.
Indian Healthcare system is categorised into two components:-
- Public Sector
- Private Sector
Public healthcare system i.e. Governments comprises limited secondary and tertiary care institutions. Public owned hospitals are funded by the Governments.
Privately owned hospitals are funded and operated by the owners of the hospitals.
