Potential in Healthcare
There exists a tremendous opportunity in the Indian healthcare industry. This is clearly borne out by the following:
The size of healthcare industry in India is just 5% of the GDP, as compared to United States, where this figure stands as high as 13.7%. In fact healthcare is the largest industry in the USA.
A study conducted by KSA Technopak, a leading global consulting firm indicates that in India, on an average, 11% of the annual household income is spent on healthcare. Not only this, 25% of the people believe that this figure is likely to go up.
Further, the same study indicates that close to 68% of the healthcare spending is on the day to day healthcare needs alone.
The healthcare industry in India is expected to cross Rs.1000 billion in the next three years.
The Role of Consumerism
The wave across various sectors in India has led to a more demanding consumer, whose awareness levels have risen significantly in the last few years. The consumer now has greater expectations and demands in terms of the quality of healthcare.
This is especially true of the quality of primary healthcare services available in the country today. Given the backdrop of extremely high fragmentation, reliability and accessibility continue to be a distant dream. The consumer's current experience with a host of polyclinics and diagnostic centres, which have little regard for quality, has been disappointing.
Today's consumer is sensitive to both - care and cure - and is hungry for information. And he is willing to dig deeper into his pockets to get that extra reliability, reassurance and convenience.
There is only one logical conclusion to draw from all this. The healthcare industry, which is rightly perceived to be recession-proof, is set for unprecedented growth. And it offers some exciting opportunities in the area of primary and preventive healthcare.
The Apollo Hospitals Group is uniquely positioned to seize this opportunity through its initiative, 'Apollo Clinic'.