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Political and Policy Analysis for the Indian Healthcare Industry
Frost & Sullivan, Jan 2007, Pages: 37
Both public and private sectors have a role to play in the delivery of healthcare in India; however, public expenditure on health is lower than in other developing countries and hence, the healthcare industry is dominated by the private sector. The Government greatly facilitates the functioning of the industry and helps attract foreign investors through investor-friendly policies and tax incentives. It is aiming to modernize the healthcare system and through greater collaboration with the healthcare industry. Consequently, it hopes to provide innovative drugs, expand healthcare insurance, as well as provide modern medical equipment and better services. By implementing Telemedicine, one of the biggest healthcare projects in the world, it aims to revolutionize the delivery of healthcare services using information technology and communication.
The Government is also encouraging public-private partnership and promoting medical tourism. It is working toward delivering effective and affordable healthcare services to the vulnerable sections of population residing in rural areas through its common minimum program and national rural health mission. The political establishment plays a critical role in prioritizing the healthcare industry in the development agenda of a country. General economic policies greatly impact this demand-driven industry and industry-specific policies, wherever effectively enforced, provide impetus.
The country’s recognition of product patent for pharmaceuticals is expected to lure more foreign investors into using the outsourcing opportunities in the country. Moreover, creation of suitable infrastructure and an increase in healthcare as well as drug and pharmaceutical R&D expenditure are likely to attract new projects for drug development. The Government’s initiative of setting up additional hospital schemes will create further opportunities for the industry. For these reasons, India’s healthcare industry is anticipated to grow tremendously in the next five to ten years.
Frost & Sullivan’s Healthcare Country Industry Forecast provides vital inputs for evaluating the attractiveness of a country and its healthcare industry. Besides enabling decision makers to assess the impact of non-market forces, it also helps in identifying new market opportunities. This service provides a strong base for preparing contingency plans. In addition, investors can assess industry-specific risk factors as well as conduct a more in-depth micro research.
Benefits of this Service
Identifying New Market Opportunities
The future trends and developments in the Indian healthcare industry have been identified by taking into consideration the political and policy environment of the country as well as analyzing global trends of the market. This analysis will provide valuable information to industry participants, which would aid in taking advantage of opportunities in the Indian healthcare Industry.
Understand Future Industry Trends
The research gives an insight into the industry’s trade and investment trends, discusses its dependence on the prevailing political and policy scenario, and forecasts its future. This will help industry participants to gauge industry trends and thereby, devise appropriate strategies to improve market shares.
Comprehend Policy and Regulatory Environment
A detailed analysis of the policy and regulatory framework of the Indian healthcare industry offers insights into the regulatory environment as it exists and the future direction of the same.
Devise Country Entry Strategies
The study provides valuable information and analysis of the strengths and weaknesses of the political and policy environment of India, which are relevant to the healthcare industry. This is particularly useful in devising country specific strategies for industry participants.
Evaluate Industry Segment Potential
The analysis of the sectors of the healthcare industry, along with a discussion of its vertical market segments, provides the trends and forecasts for industry. It also offers insights into its key indicators and resources. This will help corporate planners in developing accurate business strategies and enhance credibility to planning company resources.
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