The Indian healthcare industry has not witnessed any sort of downsizing or negative trend during this recession, unlike other industries like the Automotive, manufacturing or Real-estate, that had a direct impact. There had been a steady growth in this sector, revenues from the healthcare sector accounts for 5.2% of the GDP, making it the third largest growing sector in India, and further the healthcare sector is projected to grow to nearly 40 billion US dollars by year 2012.
Taking the entire healthcare industry into account, the sectors that have tremendous growth potential are Medical Infrastructure, Tele medicine, Medical Equipment, Medical Textiles, Health Insurance, Clinical Trials, Medical Services Outsourcing, Medical Tourism, and Training & Education, which are the most important ones that offer numerous opportunities.
With the Indian middle class segment growing bigger and richer, the life styles of people have also changed, with most of them becoming couch potatoes, and suffering from diseases such as cardiovascular illnesses and diabetes, as a consequence of changing lifestyles. Climatic changes and increase in population with lesser emphasis on health and sanitation, makes merry for diseases. With the middle class showing an increase in their affordability, the average spending on healthcare is also increasing steadily, thanks to the competition and awareness created by the insurance companies, which has further fueled the healthcare industry to grow and poised to grow by several folds.
With India emerging as the destination for medical tourism, a term initially coined by travel agencies and the mass media to describe the rapidly growing practice of people travelling across international borders to obtain health care. Now the healthcare industry is all set to grow further on this by providing medical treatment coupled with a touch of luxury, sightseeing, and five star foods to its international patients who come here to perform medical procedures at a lower cost, after comparing the cost in their home country.
The health-care industry incorporates several sectors that are dedicated to provide services and products dedicated to improving the health of individuals. According to market classifications of industry such as the Global Industry Classification Standard and the Industry Classification Benchmark, the health-care industry includes health care equipment & services and pharmaceuticals, biotechnology & life sciences. The particular sectors associated with these groups are biotechnology, diagnostic substances, drug delivery, drug manufacturers, hospitals, medical equipment and instruments, diagnostic laboratories, nursing homes, providers of health care plans and home health care.
According to government classifications of industry, which are mostly based on the United Nations system, the International Standard Industrial Classification, health care generally consists of hospital activities; medical and dental practice activities, and other human health activities. The last class consists of all activities for human health not performed by hospitals or by medical doctors or dentists. This involves activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, ambulance, nursing home, or other para-medical practitioners in the field of optometry, hydrotherapy, medical massage, music therapy, occupational therapy, speech therapy, chiropody, homeopathy, chiropractice, acupuncture, etc…
A recent survey conducted by HarNeedi.com, a Marko group company, gives an out look on the roles that in great demand, Specialist doctors such as, Cardiologists, Cardiothoracic surgeons, Interventional Cardiologist, Orthopaedics, Emergency Medicine Specialist, Neurologists, neuro-surgeons, Gynaecologist, Duty doctors etc… are in great demand.
Some of the other profiles that are in great demand are that of experienced nurses and technicians who can handle various specialities such as ICU’s Cath labs, Operation Theaters, Emergency Departments etc…Technicians, like Radiographers, CT Technician, Radiotherapy technicians, emergency medical technicians etc… are also in great demand.
Considering all the above facts and the ever-growing upward trend in the healthcare industry, the industry has for sure attracted many investors and professionals from other industries as well, with more money being pumped into this industry; there would be great demand for healthcare professionals, and there will be a galore of opportunities in the near future.