Greater awareness along with prevalence of lifestyle diseases to drive the growth of India hospital market
According to TechSci Research report, “India Hospital Market By Ownership (Public, Private and PPP), By Type (General, Specialty, Multi- Speciality Hospitals), By Bed Capacity (Up to 100beds, 101-300beds, 301-700 Beds, Above 700 Beds), By Regionality (Regional, District, Rural, Others), By Region, Forecast & Opportunities, 2025”, the India hospital market is forecasted to register a robust CAGR during the forecast period. India, while accounting for around 18% of the world population, disproportionately bears 20% of the global disease burden each year. Therefore, growing prevalence of chronic diseases such as diabetes, cardiovascular diseases, renal disorders, cancer, etc., among the population of the country has drastically increased the patient pool and rate of hospitalization. This in turn drives the growth of India hospitals market. Moreover, adoption of advanced techniques and treatment options in the hospitals is further expected to create lucrative opportunities for the market growth through 2025. Furthermore, high penetration of health insurance and medical reimbursement facility, that covers an individual’s hospitalization expenses incurred due to sickness, is anticipated to aid the market growth. Along with this, favorable government policies for encouraging FDI, tax benefits, have helped the hospital industry to attract private equity, venture capitals and foreign players, thereby bolstering the growth of India hospital market. However, costly new technologies, expensive infrastructure, and operations cost might hamper the market growth through 2025.
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The India hospital market is segmented based on ownership, type, bed capacity, regionality, company, company and region. Based on ownership, the market can be split into public, private and PPP (Public Private Partnership’s). Out of these, the public private partnership’s (PPPs) are gradually gaining acceptance, therefore this segment is anticipated to grow at a high pace during the forecast period as it increases the accessibility and availability of quality services along with reduced cost of care. Based on type, the market can be fragmented into general, specialty and multi- specialty hospitals. Here, the specialty hospitals segment dominated the market until 2019 which can be attributed to the fact that specialized hospitals can draw large volumes, thereby reducing costs and improving the quality of the services provided, resulting in higher percentage of patient satisfaction. In terms of bed capacity, the market is categorized into up to 100beds, 101-300beds, 301-700 beds and above 700 beds. Among these, the 301-700 beds segment holds significant share in the market on account of presence of high number of hospitals in the country with this number of bed capacity. Also, above 700 beds capacity segment is expected to register high growth during the forecast period which is accredited to increasing population affected with COVID- 19.
Max Healthcare Institute, Shalby, Lilavati Hospital, Sir Gangaram Hospital, Fortis Healthcare Limited, Aims, Medanta Medicity, Apollo Hospitals Enterprise Limited, Tata Memorial Center, Kokilaben Hospital and others are some of the leading players operating in India hospital market.
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“India hospital market is expected to grow at an impressive rate during the forecast period, owing to the availability of favourable policies, demographic transition along with changing consumer lifestyle. Additionally, growing geriatric population on account of the sedentary lifestyle coupled with increasing incidence of non-communicable diseases is further expected to spur the market growth. Furthermore, surging government investments on healthcare infrastructure are expected to create lucrative opportunities for the market growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.
“India Hospital Market By Ownership (Public, Private and PPP), By Type (General, Specialty, Multi- Speciality Hospitals), By Bed Capacity (Up to 100beds, 101-300beds, 301-700 Beds, Above 700 Beds), By Regionality (Regional, District, Rural, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of India hospital market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India hospital market.
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