With a vast population base, India has a large patient pool existing in various urban, sub-urban and rural areas. At present, the country has around 0.7 hospital beds per thousand populations as compared to a much higher global average of around 3, which indicates a huge demand and supply gap in this market. According to a new research report by RNCOS, the hospital beds market in India is expected to grow in near future, though at a slow rate, on back of increasing private and public participation. It is expected that high demand, rising healthcare expenditure and huge growth potential will attract investments in this area, and there will be 937,000 hospital beds in the country by 2015.
The “Indian Hospital Services Market Outlook”, a comprehensive study that provides extensive information about India’s hospital sector, forecasts that the healthcare spending in the country will be more than double by 2017 due to rising penetration of healthcare insurance and high prevalence of diseases. The Indian hospital services market, which stood at around US$ 31.3 Billion in 2010, is expected to cross the US$ 80 Billion-mark by 2015. The research sees that most of the demand will be in the specialty segment, and changing consumer behavior will lead to the development of high quality healthcare. It was observed that private players hold the majority share in hospital services segment that will rise gradually with each passing year.
The report analyzes various factors driving the industry’s growth and the challenges it has been facing. Analysis and statistics regarding market size, growth, share, segmentation, and hospital infrastructure in various metropolitan cities have also been included in the study.
The industry estimates, presented in the report, are based on numerous economic models, correlation and regression analysis and judgmental analysis of the team of industry experts which has carried out the inclusive research. Overall, the research aims at presenting a balanced outlook about the Indian hospital services market to clients.
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