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Hospitals have realized that information technology (IT) can be an effective tool towards efficient systems. India has the fastest growing healthcare IT market in Asia, with an expected growth rate of 22 per cent, followed closely by China and Vietnam. According to Springboard Research, the Indian healthcare technology market is poised to be worth more [...]
According to Mckinsey, one-fifth of India’s population is likely to have medical insurance by 2015, leading to an estimated increase in consumer spending on healthcare from US$ 2,054 per household in 2005 to US$ 3,514 per household by 2015. The Insurance Regulatory and Development Authority (IRDA) has eliminated tariffs on general insurance as of January [...]
According to Mckinsey, currently only 10 per cent of the Indian population has health insurance, which means that there is tremendous scope for growth in this area. The Indian health insurance business is growing at 50 per cent. The sector is projected to grow to US$ 5.75 billion by 2010.
To meet the growing demand for healthcare in India, the country needs US$ 50 billion annually for the next 20 years, says a Confederation of Indian Industry (CII) study. India needs to add 2 million beds by 2027 to the existing 1.1 million, and requires immediate investments of US$ 82 billion.
