Project Report For
The project report for Hospitals is as follows.
Healthcare has been one of India’s largest industries, both in view of income and job opportunities. Healthcare covers hospitals, medical supplies, clinical trials, medical tourism, health insurance and medical devices. The Indian healthcare industry is rising at a rapid rate owing to its enhanced reach, facilities and increased investment by both public and private companies.
The Indian healthcare distribution system is divided into two main sections, public and private.
The Government, i.e. the public health system, contains small secondary and tertiary establishments in main markets and aims at providing good healthcare services in terms of primary healthcare centers (PHCs) in rural areas. The private sector makes up the majority of secondary , tertiary and quaternary treatment centers with a concentration higher in the metropolitan areas of Tier I and Tier II.
India’s strategic strength resides in its huge pool of very well-trained medical professionals. India is also competitively priced relative to its rivals in Asia and Western nations. The price of treatment in India is around one-tenth those in the US or Western Europe.
Market potential & Strategy
The health industry will triple to Rs 8.6 trillion (USD 133.44 billion ) by 2022.
The healthcare sector is rising at 18% and is projected to hit USD 9 billion by 2020. There is substantial potential for improving services, given that expenditure as a percentage of the Gross Domestic Product ( GDP) is growing. Government spending on the healthcare industry has risen to 1.6% of GDP in FY20 from 1.3% in FY16.
Health insurance is attracting popularity. Total premium collected by health insurance increased by 17.16% to Rs 51.637.84 crore ( US$ 7.39 billion) in FY20.
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