Review of the Healthcare System and Medical Device Market in India - report
LONDON, Feb. 9, 2016 /PRNewswire/ -- This TforG Healthcare Market review report for India includes numerical and written analysis on the socioeconomic and macroeconomic context and outlook, the healthcare system, and the latest healthcare reforms. Moreover, an extensive chapter is dedicated to the markets for capital equipment, medical devices, disposables and pharmaceuticals.
The report helps businesses gain a unique insight into the socio-economic dynamics, and helps analyze how they affect healthcare systems and their evolution. It can serve as a valuable tool with actionable guidance for sales, marketing, R&D and business managers with industry related interests.
Four chapters cover the numerical and written analysis for the following topics: Economic Outlook (38 Key industry indicators), The Healthcare System (HC system structures), Reforms (restructuring, re-engineering or austerity efforts) and the Healthcare Market (Capital Equipment, Medical Devices, Disposables and Pharmaceuticals).
Economic Outlook:
- In the last decade India has been among the top 10 percent of the world's countries in terms of economic growth.
- The primary challenge for India is to sustain this growth while spreading its benefits more widely.
- India's GDP has experienced a significant annual growth from 2012 to 2013 (i.e. 4.1 to 5.7 respectively)
and this growth has expanded to 6.6 percent in 2014.
- TforG projections show the GDP reaching a plateau in 2015 and remaining at 6.6 percent annual growth.
The Healthcare System:- Although there was no significant expansion in terms of healthcare expenditure from 2012 to 2013,TforG projections show a slight growth from 1.3 percent to 1.4 percent from 2014 to 2015.- Healthcare in India has many major business opportunities, due to the sector's rapid expansion to meet the needs of the growing middle-class.-There are many factors driving this growth, including: a population of around 300 million with risingincome, increasing expectations and greater access to healthcare services.
Reforms:
- The Indian government has released their "revised National Health Policy", setting a variety of goals to be achieved by 2017.
- One goal is to increase allocation of public health investment.
- Greater focus on health programs for TB, Malaria, HIV/AIDS, RCH with the goal of reaching moderate levels of prevalence.
- Another goal is the Incorporation of a program to levy user charges for certain secondary and tertiary public health services, for those who can afford to pay.
- Decentralization of the implementation of health programs to local self-governing bodies.
The Markets:- Projections currently show that the medical electronics market specifically will grow to about € 8.7 bn by 2017, up from € 4.8 billion in 2013 (representing a compound annual growth rate of 16 percent). - Barriers preventing continued growth include the high interest rates on loans. - About 20 percent of the medical market in general is supplied by local manufacturers (typically low tech products), while the latter 80 percent is imported (medium to high tech products). - Most of the imported products in India come from the US, the EU and Japan. - Low cost providers these include China, Korea and Taiwan.
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