The largest growing sector of Indian market is the healthcare sector which is primarily broken into private and public. The public healthcare and pharmaceutical sector is comparatively narrow while the private sector of the healthcare market is wide with worldwide intervention. India is well known for its herbal products and traditional medicines, for which the market has also emerged. Healthcare provides a wide market for both employment and revenue. The industry comprises of health insurance, hospitals, medical devices, outsourcing, medical tourism, telemedicine, medical equipment, and many more.
India is an acknowledged destination for medical tourism. The Indian culture is portrayed through the making of medicines from the Indian herbs, establishment of different kind of meditation and yoga hub, has made the country an innovative growing market segment. This has attracted tourists giving a rise to the market size of medical tourism in India. Patients also come to visit India for cardiology, neurology, orthopaedics and transplanting of organs due to the cost factor. Compared to foreign countries like US or Europe, India maintains its healthcare segment at a 10-20% lower cost. India’s cost advantage compared to healthcare hubs in Asia and Western countries is significant.
The foreign investment has also made a mark in Indian healthcare sectors. Research and development centres have grown up and are still developing over time. All this records of market research can help investors, patients and foreign pharma companies.
Market Quotient, is such research and analytics hub, which is aware of the activities of the healthcare providers and pharmaceutical firms who are in constant search of new products and services to enjoy edge over their competitors. They are similarly inquisitive about the researches and developments going on across the geographic boundaries and eager to know the steps taken by their competitors along with the possible threat they can face. These researches that the clients are supposed to perform in order to provide best healthcare and pharmaceutical services often tend to be critical and require high level of domain expertise, which can be served by Market Quotient. Apart from that comparative analysis of the products, markets and demand-supply ratio, landscaping of the potential areas in healthcare and pharmaceutical sector, preparing investment proposals that incorporate points like revenue in return, profitability per patient in hospitals and nursing homes, patterns of capital expenditures, etc, executing researches on customer-patient liaison.
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