IBEF Study says Indian medical tourism healthcare will reach $ 10 billion
Healthcare industry is one of the rapidly burgeoning areas in India, both in terms of economy and and in terms of technical improvements. Indian Healthcare Industry is on the verge of facilitating world class intervention. The Healthcare Industry is basically related to hospitals, diagnostics, medical equipment, and medical tourism. Qualitative and affordable services available in India are what is drawing more and more foreign patients via medical tourism. Although the Indian health service is showing exponential growth, the scope of development is yet to be discovered.
In the contemporaneous scenario, healthcare is primarily driven by digital technology, in which most of the medical devices running on the digital platform. With more private players coming forward with better public-private partnership, this region is estimated to be larger and more varied than the combined annual rate of 25% during this five-year tenure.
Dr. C.A. Ruchi Gupta, Founder and CEO, 3hcare.in says, “One of the most interesting and engaging areas in this section is genetic testing and research in molecular biology. With countless opportunities in this field, genetic bio-markers continue to expand. A molecular biologist focuses on genetic changes to help correct and slow down the disorder of the disease. And screening is necessary in the newborn because it helps to identify genetic disorders and facilitate early treatment in life.”
Overall Healthcare Market
According to the IBEF Research Report, the overall healthcare market is equivalent to $100 billion. What is more, the healthcare market is likely to touch 280 billion by 2020. Indian medical tourism healthcare will reach $ 10 billion with two-fold increase in healthcare IT market is expected to be by 2020. The data is looking promising, providing a exponential rise in technical progress and ease of operation in the years to come in the field of health advancement.
3D Printing Technology
In recent years, the use of 3D printing technology has also been developed, which provides surgery with a game-changing technique in the diagnosis and studies human anatomy. To print blood vessels and cardiac tissues, to study cancer cells and to change the organs, some people have seen practical applications in diagnosis and disease management.
“Smart watch advice, real time diagnosis in the operating room has helped the area with compliance control and differential disciplinary treatment. Technical advancement in the healthcare industry works as artificial intelligence in medical decision support, redesigns hospital experience and forms like a virtual digital brain.” Dr. Ruchi Gupta pointed out.
With the burgeoning science and technology, use of medical apps have been on an upward tick and made IT considerably more understanding. Of late, medical apps have become more customised providing a meaningful use of social media.
“Many major investments are being made in this field, the functioning of the industry has become more professional, organised and efficient. The emergence of NGO healthcare, Information Technology industry developing software and imaging equipment, the area is on the brink of rapid development phase”, Dr. Ruchi Gupt added.