Title:Emerging Trends In Health Care: Challenges And Opportunities

Journal: Indian Journal of Economics & Business
Publication date: 2014
Publisher: Indian Journal of Economics & Business
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The Healthcare sector, in India, is at an inflection point and is poised for rapid growth.India’s annual healthcare spending of $65 billion at the market-exchange rate, $160 billion in general purchasing-power parity (PPP) terms and $500 billion in healthcare PPP terms has turned India into a major healthcare market. The Indian Healthcare sector currently represents a USD 40 Billion industry. The industry is expected to grow to ~ USD 280 Billion by 2020. A combination of demographic and economic factors is expected to bring about increased healthcare coverage in India which is expected to drive the growth of the sector. While the Indian Healthcare sector is poised for growth in the next decade, it is still plagued by various issues and challenges with rise in disease burden and lack of infrastructure and manpower. Indian healthcare expenditure is still amongst the lowest globally and there are significant challenges to be addressed both in terms of accessibility of healthcare service and quality of patient care.Both the public and private sector in India need to work in tandem to make healthcare available, accessible and affordable. Present paper attempts to take an overview of challenges and opportunities in this sector in India.