2-YEAR MBA in HEALTHCARE MANAGEMENT
The Indian healthcare sector is expected to reach US$ 100 billion by 2015 from the current US$ 65 billion, growing at around 20 per cent a year, according to rating agency Fitch.
India’s rapid growth has brought about a “health transition” in terms of shifting demographics, socioeconomic transformations and changes in disease patterns. The major factors driving the growth in the sector include increasing population, growing lifestyle related health issues, cheaper costs for treatment, thrust in medical tourism, improving health insurance penetration, increasing disposable income, government initiatives and focus on Public Private Partnership (PPP) model.
The Government of India has decided to increase health expenditure to 2.5 per cent of gross domestic product (GDP) by the end of the Twelfth Five Year Plan (2012-17), from the existing 1.4 per cent.
- According to a report by Price Waterhouse Coopers, an estimated 189 million people in the country will be more than 60 years of age by 2025, needing higher healthcare spends.
- A combined study by an industry body and Ernst & Young suggests that India will need as many as 1.75 million additional beds by the end of 2025. Further, an investment of US$ 86 billion is required to achieve 1 doctor, 2 beds and 2.3 nurses per 1000 population by 2025.
- As per the report, “Healthcare Information Technology Market in India” released by Frost & Sullivan electronic medical record (EMR) services have a high growth potential at an estimated compound annual growth rate (CAGR) of 13.5 per cent from 2009 to 2016. With many new private hospitals opening in the next few years, investment in EMR is expected to become a necessity for these hospitals.
- Medical tourism in India has also received a boost with arrival of patients from countries with advanced medical systems. This underlines the fact that India has good infrastructure and talent.
- The healthcare sector is growing at a 15% CAGR and expected to touch $158.2 billion by 2017,” stated by Equentis Capital in its report.
- The private sector has emerged as a vibrant force in India’s healthcare industry, lending it both national and international repute. Private sector’s share in healthcare delivery is expected to increase from 66% in 2005 to 81% by 2015. Private sector’s share in hospitals and hospital beds is estimated at 74% and 40%, respectively.
- Strong mobile technology infrastructure and launch of 4G is expected to drive mobile health initiatives in the country. Mobile health industry in India is expected to reach $0.6 billion by 2017.