India Hospital Market to Cross US $ 189 Billion by 2020, Says Pharmaion

BURNABY, Canada, October 12, 2015 /PRNewswire/ --

Rising incidence of diseases, expanding middle class population and increasing awareness regarding preventive care is driving India hospital market 

According to Pharmaion report "India Hospital Market Forecast & Opportunities, 2020", India hospital market is forecast to cross US $ 189 billion by 2020. Increasing income levels of the middle class population, and preference for high quality healthcare services offered by private hospitals; demographic transition; changing consumer lifestyle; and increasing incidence of non-communicable diseases, chronic and non-chronic diseases is fueling growth in India hospital market. Additionally, rising penetration of health insurance schemes is further propelling growth in India hospital market.

In terms of ownership, private sector in India dominates the country's hospital market. Over the course of next five years, domestic as well as foreign private sector investments would be required in order to pump revenue growth in India hospital market and meet the demand for high quality healthcare services in the country. Availability of high quality healthcare services at cheaper costs compared to developed countries is boosting growth in medical tourism, thereby driving hospital market in the country. Growing medical tourism in India is encouraging healthcare providers to maintain international standards in their facilities, and thereby offer healthcare service at par with developed countries.

"Emergence of advanced technologies such as telemedicine, cloud computing and growing popularity of day care surgery in India is projected to drive growth in India hospital market over the next five years. Accessibility to healthcare services for rural population can be improved with the use of cloud computing technologies, which not only increases accessibility of patient data across various geographies, but also reduces delays in diagnosis and treatment by healthcare providers. Increasing elderly population and lack of adequate number of healthcare professionals in hospitals is expected to pump growth in demand for telemedicine services from hospitals, thereby enabling better access to healthcare services in the country.", said Mr. Karan Chechi, Research Director with Pharmaion, a research based global management consulting firm.

"India Hospital Market Forecast & Opportunities, 2020" has analyzed the potential of the hospital market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

About Pharmaion 

Pharmaion is a research based management consulting firm focused exclusively on Healthcare & Pharmaceutical industry. Led by a team of dynamic industry experts, Pharmaion provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, Pharmaion's clients lead rather than follow market trends. Pharmaion has developed a proprietary database which focuses on identifying the unexplored opportunities in Healthcare and Pharmaceutical industry.

Media Contact
Karan Chechi
Research Director
Contact Phone- +1 646 360 1656
Email- [email protected]