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Industry Insight - Indian Hospital Industry
CYGNUS Business Consulting & Research, Nov 2010, Pages: 243
Hospital industry is an important component of the value chain in the Indian Healthcare sector. According to Cygnus, the total healthcare industry, which is estimated at US$ 50 billion in 2010, is further projected to grow at a CAGR of about 23% to cross the US$ 75 billion milestone by the year 2012. Of the total healthcare market size in 2010, near about 40-45% was contributed by the hospital industry. Newfound prosperity of many Indian households is spurring demand for high-quality medical care, transforming the healthcare delivery sector into a profitable industry. Medial tourism is changing the face of traditional healthcare industry in India. India's excellence in the field of modern medicine and its ancient methods of physical and spiritual wellbeing make it the most favourable destination for good health and peaceful living. India's cost advantage and explosive growth of private hospitals, equipped with latest technology and skilled healthcare professionals has made it a preferred destination for medical tourism. According to Ministry of Commerce and Industry, Indian medical tourism is estimated to grow into a US$2 billion industry by 2012.
The above background initiated need for a comprehensive Industry Insight on Hospital industry. Overview of the hospital industry in India with a brief preamble of global healthcare and hospital industry is discussed in the beginning along with its classification according to its objective, ownership and system of medicine. Application of technology, growth drivers, issues and challenges, regulatory environment and most importantly quality control and accreditation is discussed in total 10 chapters. The report will be useful for various international investors interested in hospital industry in India, entrepreneurs for setting up hospitals or hospitals in expansion mode, other components of value chain in healthcare contemplating to enter into healthcare delivery, banking sector and students enrolled in healthcare /hospital management.
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