Healthcare

Summary:

  • Healthcare industry comprising of hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment, has become one of India’s largest sector, both in terms of revenue and employment.

  • Healthcare market in India is expected to reach US$ 372 billion by 2022, driven by rising income, better health awareness, lifestyle diseases and access to insurance.

  • GOI aims to increase expenditure towards the healthcare sector to 3% of the GDP by 2022. Also, the number of allopathic doctors with recognized medical qualifications have increased to 1.27 million in July 2021 from 0.83 million in 2010.

  • Over the next 10 years, National Digital Health Blueprint can unlock incremental economic value of over $200 billion for the health sector.

  • Recent development in the healthcare sector include the introduction of telemedical services. The Health Ministry’s ‘eSanjeevani Telemedicine’ , an online OPD service crossed 12 million teleconsultations as on September 2021


Step 1

PRE-SERVICE

marketing/marketing research, services offered/branding, pricing, distribution/logistics, promotion

Step 2

Point of service

clinical operations- quality, process, innovation; marketing - patient satisfaction

Step 3

After sale services

follow-up-clinical, marketing; billing; follow-on- clinical, marketing

Cost Drivers

Employee salaries

Raw material costs

Infrastructure cost

Revenue Drivers

Healthcare services

Diagnostic,

Sale of drugs and equipment

Growth Drivers

Rise in population

Rising income levels

Increase of awareness among people,

Adoption of health insurance

Increase in personal health expenditure

Changing lifestyles and transformation of disease profile of India from communicable diseases to non-communicable diseases such as cancer, diabetes and cardio- vascular diseases

Allocation of 35000 crores towards healthcare in Union Budget 2021

Key Customers

External (patients, patients' families, visitors, referring physicians, doctors' offices, blood donors, and third-party payers)

Internal (nurses, staff physicians and other professionals, students, trainees, employees, departments, and committees)

Key Players

Apollo Hospitals

Fortis Healthcare

Narayana Hrudalaya, Aster DM

Channels

Sales agents

Medical representatives

Doctors

Distributors (Pharmacy)