Bangalore: India is in the fast lane for growth in the healthcare sector with technological advances in its reach. India with a large number of population demands medical services at a relatively affordable price, which can only be achieved by technological investments in the health care sector. By 2020 the health care service industry is expected to reach $18 billion, creating the essential need for technological enhancement as reported by Vishal Dutta for ET.
The key to the success of medical institutes is costing and the technological advances in the health sector will assist in bringing down the healthcare expenses or help control the exceeding healthcare cost said professor K V Ramani, , Indian Institute of Management, Ahmedabad, Public System Group.
As per the Confederation of Indian Industry (CII) the healthcare industry is also the largest employment generator in India and the development index in this sector is equally high. With that being said, India is required to enhance the current capacity of its healthcare sector by about 200 percent. There is a short of advanced infrastructure and services in public sector hospitals, as these hospitals are managed by charitable or non-profit trust, which are not in position to undertake the expenses for the implementation of modern and latest infrastructure and equipments. This situation presents a high growth possibility for the private sector hospitals, as far as they manage their business resourcefully. The main focus of these hospitals needs to be reduction in energy consumption with installing energy efficient technology.
The Indian healthcare industry is in place to achieve the status similar to the pharmaceutical sector of the country, which delivers to the 20 percent of world’s demand for medication and drugs, as said by Vice Chairman Dr. Rajiv Modi, CII Gujarat State Council and Managing Director, Cadila Pharmaceuticals Ltd. With the increasing size of the market for hospital services, India is also expecting the medical tourism to play a vital part in the development of health care industry in the coming years.
With the booming pharmaceutical sector India is also gearing up for an advanced health care system to provide medical assistance to people at a more cost effective rate and hopes that with technological enhancement it will increase the health conditions in the country and also attract foreigner to avail these services.