Health Care Market in India is valued at $35 billion and is expected to reach over US$ 75 billion by 2012 and US$ 150 billion by 2017. Prior to Independence the state of health care in India was poor. After Independence the Government of India took efforts to build health care sector and made progress to provide better health care systems across India. Realizing the gap between supply and demand, in 1980’s Government allowed entry of private organizations in the health care sector. Today private health care providers contribute to 75 to 80 percent of the health care market share. These private hospitals are managed by corporate, affluent individuals or charitable/non-profit organizations.
In India health care sector is taken care between centre and the states. Central level health care takes care of population control, family welfare, medical education, prevention of food adulteration, quality control of drugs and so on. State level health care controls the hospitals, sanitation, public health and so on. Overall, the Ministry of Health and Family Welfare is the prime authority for the growth and development of health care sector in the country.
Rising income, Growing Middle class, Growing and ageing population, Growing urbanization, Growing medical tourism and Healthcare insurance penetration are some of the major drivers for the health care market. Lifestyle diseases such as cardiovascular disorders and diabetes are set to affect 13 crore Indians in the next few years. The national loss on account of these diseases was earlier estimated at around $100 billion between 2005 and 2009. Though the health care sector has been growing tremendously the fact that India as one of the fast growing developing countries is yet to create facilities to tackle these health issues. The recent scare of H1N1 virus has left one wondering whether India is prepared to handle medical emergencies.
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