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Rise of Healthcare Business in India

The Healthcare Business is all set to conquer the markets with investors readily available to invest in this sector as India is full of prospects in the medical industry as it is one of the fastest growing sectors

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The Healthcare Sector in India is undergoing an upsurge with changing technologies and the rising consciousness among the people of the country. The traditional healthcare system was extortionate and couldn’t be afforded by the large population of the country. This was gradually realised by the government and its people that the healthcare systems are at stake and there is an alarming and an urgent need for it to be stabilized and embarked upon. 

Healthcare is a realm that has the maximum revenue as the sedentary lifestyle choices, deteriorating lifestyle factors and unbalanced dietary habits have been increasing amongst the people. This is why there has been a need for greater healthcare in the country which has seen a rise in the healthcare business too.

Talking about the Healthcare business in India, its need and demand has been growing at a much faster pace than it is actually developing. In other words, The Indian healthcare sector is growing but, at a brisk pace. Its slower pace is because of the greater coverage, provision of services to voluminous population and growing costs by the public as well private companies. 

Also, India is still a developing nation and is practically impossible for the country to have the best in class technology, medical devices and equipments. This is where our country faces paucity and deficiencies. Its incapacity to invest in the dynamic innovations makes it encounter several obstacles in the healthcare sector. 

The Private hospitals and healthcare systems generally cater to the selected and the cream section of the society but since the people have been meticulously working on their rising standard of living, an elevation is also seen in this domain. The mounting awareness and realization in seen when it comes to prioritizing their health has been growing therefore, the private healthcare business has been rising. 

Despite the dearth the country has been facing in this domain, the healthcare sector is still growing. The start-ups and entrepreneurship have taken over the sector while they saw how the public healthcare could not meet the never ending demands and needs of the people. The entrepreneurs took this as an opportunity and promised to take over the diseases capable of undesirably upsetting and decaying the health of the country. 

This has been how the Healthcare Business has been booming with world class ideas and innovation. With these developments, the medical services are provided at the door step just by using mobile phones and tablets. 

Novelties like developing low-cost personalised cancer care drugs, bringing specialists and medical specialists and experts at the patient’s doorstep, bringing closer the medical emergency services, structuring a one-stop healthcare platform for all the medical needs, using Artificial Intelligence to fight cancer and provision of instant support from doctors using technology. 

The Healthcare Business is all set to conquer the markets with investors readily available to invest in this sector as India is full of prospects in the medical industry as it is one of the fastest growing sectors. It is also becoming a leading destination for diagnostic care. 

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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Dr Saarthak Bakshi

The author is CEO, International Fertility Centre

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