The Indian heathcare industry, growing at a CAGR of 15% is expected to touch US$ 250 billion by 2020.
Driving growth factors are rising population, increasing disposable income, increasing lifestyle related health issues, cheaper treatment costs, thrust in medical tourism, improving health insurance penetration, government initiatives and focus on public private partnership (PPP) models.
Most Indian metros have hospitals with world-class infrastructure, processes and outcomes. However, 70% of the healthcare infrastructure is confined to the top 20 cities of India. In order to reach the remaining population, innovations both in healthcare products and delivery are required.
Healthcare systems predominantly differ in means, methods and approach, but all confront mediocre health outcomes and a steeply escalating cost curve that is unsustainable in the long term. Offering affordable healthcare without compromising access to care or quality requires innovative new products and care options.
Healthcare in India today provides existing and new players with a unique opportunity to achieve innovation, differentiation and profits. In the next decade, increasing consumer awareness and demand for better facilities will redefine the country’s second largest service sector employer.PwC understands the healthcare system as well as the dynamics that drive it. Ours is an industry aligned, market focused practice to provide greater value addition and more effective solutions for our clients.