Healthcare Market: 3 Bold Projections for 2020 | Emerging Players- Dr. Lal PathLabs, Apollo Hospitals, Sun Pharmaceuticals
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The healthcare market in India was valued at INR 14.32 Tn in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 34.04% during the 2020-2025 period, to reach INR 65.51 Tn by 2025. The growth of the market can be attributed to the surge in demand for home healthcare devices, digital healthcare solutions and pharmaceutical products. Rise in the prevalence of chronic diseases, growing investments from public and private investors, and the emergence of advanced technologies like telehealth and telemedicine solutions are some of the major factors propelling the growth of the Indian healthcare market. Relaxation of FDI and increased government expenditure are some of the key factors to drive the healthcare market during the 2016-2020 period. However, inadequate healthcare infrastructure in India and low penetration of health insurance are impeding market growth.
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The healthcare market in India is segmented into outpatient care centers, hospitals, pharmaceuticals, medical equipment and supplies, diagnostic services, digital healthcare, research and development, medical insurance and medical tourism. As of 2019, the healthcare market was dominated by the hospitals segment, which accounted for about 38.50% of the total market revenue. By 2025, the market share of the hospitals segment is expected to decline by 10.55% to hold around 27.95% of the overall healthcare market revenue. During the 2020-2025 period, the digital healthcare segment is anticipated to become the fastest growing segment in the market as a result of the self-isolation norms imposed to restrain the spread of COVID-19 and the cost-benefit obtained from using digital healthcare solutions. Other segments of the market which are expected to witness high growth rate during the forecast period are the pharmaceuticals, and medical equipment and supplies segments.
COVID-19 impact analysis:
The outbreak of the contagion followed by a long-term nationwide lockdown has had a severe impact on the overall healthcare market in India. The market segments that are likely to be positively impacted during the pandemic and the period thereafter are the digital healthcare segment, pharmaceuticals, medical equipment and supplies segment. The medical research and development (R&D) segment and the medical insurance segments are expected to experience a relatively short-term benefit during this crisis period. The medical R&D segment and the insurance segment are some of the least prioritized segments of the Indian healthcare industry and hence, the impact of COVID-19 on these segments are expected plunge with the diminishing effect of the pandemic. Other healthcare segments such as hospitals, medical tourism, and outpatient care centers are witnessing severe downfall in their markets due to the risk of virus transmission from social gatherings and the imposition of the social distancing norms.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Healthcare Market in 2020 market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Healthcare Market in 2020 near future?
What is the impact analysis of various factors in the Healthcare Market in India 2020 market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Healthcare Market in India 2020 Market
• Healthcare Market in 2020 Size (Sales Volume) Comparison by Type (2019-2025)
• Healthcare Market in 2020 Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Healthcare Market in 2020 Size (Value) Comparison by Region (2019-2025)
• Healthcare Market in 2020 Sales, Revenue and Growth Rate (2019-2025)
• Healthcare Market in 2020 Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Healthcare Market in 2020
• Healthcare Market in India 2020 Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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