Shortage of Hospital Beds and Prevalence of Lifestyle Diseases Propelling Growth of Hospital Market

New York, NY, July 27, 2013 --(PR.com)-- Global market intelligence firm Netscribes Inc. has released its latest report on the ‘Hospital Market in India 2013’, which describes the Indian hospital market as one with the strongest growth potential in the healthcare sector.

The Indian hospital market faces a critical crunch in the number of hospital beds in comparison to the demand. Persistent growth in population necessitates the growth in both public and private hospital facilities to cater to population of varied economic standards residing in the country.

The country has witnessed a growing demand for quality healthcare service. This is not only because of changing nature of Indian patient population but also due to the booming medical tourism that India is currently witnessing. As a result, the sector is attracting a good amount of foreign investments in the hospital market in India. The Indian government is also undertaking numerous initiatives including tax incentives and budget allocations that would aid in investment inflow and betterment of the market.

Indian entrepreneurs are bringing in innovation in the hospital business by revolutionizing the approach towards healthcare delivery. Initiatives are being taken to penetrate smaller cities and towns where the private sector was hesitant to penetrate even a few years back. Primary and secondary care is being offered through specialty clinics or smaller hospitals specializing in few key areas to reduce their cost of operation while still looking to increase revenue by carrying out a number of selected procedures. On the other hand, mobile hospitals and telemedicine is being popularized so that they can reach the patient population in rural and urban slum areas and deliver immediate healthcare services.

The competitive landscape of the Indian hospital market is primarily segmented into two spheres: public and private. The public hospitals operating in the country provide service at a subsidized rate that enables the under-privileged to have access to reliable treatment. However, in the private segment hospital business in India is dominated by 11 key players that operate on a chain basis, either regionally or nationally. On the other hand, the leading hospitals in the country operate in the standalone format. With the penetration level of private players in the market increasing, healthcare delivery is becoming intensively competitive among the private players, which in turn is resulting in constant development in terms of service offered by them.