Press Release Summary: Bharatbook.com launches a latest report which gives a detail information about "Indian Hospital Services Market"
Press Release Body: Bharatbook.com added a new report on "Indian Hospital Services Market" (http://www.bharatbook.com/detail.asp?id=80692)
Healthcare spending in India accounts for over 5 per cent of the country’s GDP. Of which the public spending in percentage is around 1 per cent of GDP. The presence of public health care is not only weak but also under-utilized and inefficient. Meanwhile, private sector is quite dominant in the healthcare sector. Around 80 percent of total spending on healthcare in India comes from the private sector. Inadequate public investment in health infrastructure has given an opportunity to private hospitals to capture a larger share of the market. In addition the demand for hospital services has been increasing due to the rise in lifestyle related diseases that accompany prosperity.
Hospitals serve an important function in India’s healthcare system. They provide in-patient and out-patient services and also support the training of health workers and research. Indian hospitals can be broadly classified as public hospitals, private and not-for-profit hospitals. Corporate hospital chains that provide tertiary healthcare services in large towns and cities have also been established. However, the number of hospital beds in India is around 1.1 per thousand people. This is significantly lower when compared to most developed economies.
Although rise in disposable income and better availability of health insurance have made health services more accessible the industry still faces a number of challenges. One of the major stumbling blocks is the acute shortage of trained personnel - ranging from doctors, nurses, technicians to healthcare administrators. Nonetheless, this indicates immense opportunity for players keen to establish training & education centers for healthcare personnel. Ensuring high quality of healthcare service is another key issue for service providers. This is because of the fact that majority of hospitals are private and unregulated.
The current outlook for the hospital services is positive. Technological innovations in service delivery, increased affordability, improved service quality and supportive government policy initiatives are some of the factors that are likely to impact growth of the sector. This is a pointer to significant opportunities that exist for service providers. Moreover, the future of healthcare is not restricted to the large domestic market alone. Emerging trend of medical tourism indicates the possibility of Indian healthcare services opening to the whole world.
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