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Inside Mediminds

Why India ?

India spends US$23 billion – 5.5 per cent of its GDP on healthcare. This is comparable with most other developing countries, which spend between 5 and 7 per cent of their GDP on healthcare. This expenditure will double by 2012. This growth will be driven by the phenomenal rise in lifestyle diseases, especially cancer, diabetes and cardiovascular disease. Growth rate is 18% a year.
People are spending more on the healthcare. 80% spending in healthcare is the private out of pocket spending.
Role of Insurance is increasing rapidly, with the entry of private and foreign insurers.
Foreign investment is allowed in all healthcare sector. 100% foreign investment projects receive approvals without delay or even cleared under automatic schemes.
To meet the demand for healthcare in 2012 and improve the availability of hospitals beds and doctors, the infrastructure will need to improve significantly. Around 750,000 additional beds will need to be added to the existing base of 1.5 million beds. An additional 520000 physicians will be required over and above the numbers that will be added through existing medical colleges, to each a ration of 1 allopathic practitioner per thousand people.
Creating this infrastructure will require investments in hospitals (secondary and tertiary), medical colleges, nursing schools and hospitals management schools. We estimate that creating this capacity will require US$20 – 30 billion over the next 10 years. After taking into account the expected capital investment by government and multilaterial agencies during this period, we believe that almost 80 per cent of this amount will need to come from the private sector.