No country can take the path of progress until and unless there’s wholesome development right from infrastructure to health care etc. India appropriately categories itself as “incredible” as with the pace it is marching towards development by leaps and bounds. The country’s remarkable political, economic and cultural transformation over the past few decades has made it a geopolitical force. Health care is one of the industries that marks this strengthened global presence. It has become one of India’s largest sectors both in terms of revenue and employment. Indian health care delivery system is categorized into tow major components – public and private.
There are major criteria that you need to look into account. The important character to look buy while buying it in the medicines required. For those living in urban areas, health care is merely a issue of political significance. They often asserted that the country faces much more herculean challenges such as economic development, infrastructure, jobs and border disputes with neighboring countries.
Every election raises different issues for common man, to cast in their valuable votes keeping in mind the necessity to live with good and basic lifestyle conditions.
There are 5 things you should know about India’ s healthcare system.
1. Rural Versus Urban divide
While the opportunity to enter the market is very ripe, India still spends only around 4.2 % of it’s national GDP towards health care goods and services. Moreover there are huge distinctions between rural and urban populations in it’s health care system which worsen the problem. An astounding 70% of the population basically resides in rural areas and has no or restrained access to hospitals and clinics. Therefore, the rural population mostly relies on alternative medicine and government measures in rural health clinics.
2. Requisite for effective payment instrument
Besides the rural urban divide, other impetus of India’s health care landscape is the high and out of budget expenditure. This means that most Indian patients pay for their hospital visits and doctors appointments with straight up cash after care with no payment arrangements. According to the World Bank and National Commission’s report on Macroeconomics, only 5% Indians are covered by Health insurance policies.
(image reference is taken from: http://forbesindia.com/article/universal-health-care/indias-primary-health-care-needs-quick-reform/34899/0)
3. Seeking Primary Healthcare and Infrastructure.
India faces a mushrooming need to fix it’s intrinsic health concerns in the areas of HIV, malaria, Tuberculosis and Diarrhea. Moreover, children under five are born underweight and vaguely 7% of them die in their adolescence itself. Unfortunately, only a little percentage of the population has access to quality sanitation, which further aggravates some primary and vital concerns above.
4. Increasing Pharmaceutical Arena
India is the third largest exporter of pharmaceuticals products in terms of volume. Around 80% of the market is composed of generic low cost drugs which seem to be the major driver of this industry. All above mentioned factors play an crucial role in decisive factor behind the growth of Indian Pharmaceuticals.
The increase in the aging population,, rising incomes of the middle class, and the development of primary care facilities are expected to shape the pharmaceutical industry in future. Our government has already taken some liberal measures by enabling foreign direct investment in this area which has been a key impetus behind the growth of Indian Pharmaceuticals.
5. Under developed Medical Devices Sector
The medical devices sector is the smallest piece of India’s healthcare pie. Notwithstanding it is one of the fastest sprouting sectors in the country like the health insurance marketplace. This industry has faced numerous regulatory hiccups which has prevented it’s growth and progress.
All above mentioned factors play an integral role in determining the basic need and importance of taking due care of health sector.
Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players.
Indian healthcare delivery system is categorized into two major components – public and private. The Government, i.e. public healthcare system comprises limited secondary and tertiary care institutions in key cities and focuses on providing basic healthcare facilities in the form of primary healthcare centers (PHCs) in rural areas. The private sector provides majority of secondary, tertiary and quaternary care institutions with a major concentration in metros, tier I and tier II cities.
India’s competitive advantage lies in its large pool of well-trained medical professionals. India is also cost competitive compared to its peers in Asia and Western countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe.
In virtually every country in the world today there is some form of health scare system that aims to provide at least basic health care services to the public. In many countries the existence of such a service is seen to be a cornerstone of a civilized nation and for the development of an aspiring one.
India is a land full of opportunities for players in the medical devices industry. The country has also become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostic facilities, thus catering to a greater proportion of population. Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep.