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Corporate Strategy | "How India & Indian Corporate Can Tap Emerging Global Healthcare Market"

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How India & Indian Corporate Can Tap Emerging Global Healthcare Market

- by Jyoti Singh & Sugandha Bhandari *

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Page - 2

With a GDP growth of 7.8%, India is one of the fastest growing economies in the world and the perfect health-hub of the world. The fastest growing industries are: -

  • Business Process Outsourcing

  • Software Services

  • Insurance

  • Healthcare

    • The healthcare sector has been growing at a frenetic pace in the past few years. The windfall began ever since the developed world discovered that it could get quality service for less than half the price.

    Need of the Hour

    Injecting new life into the Medical Sector

  • Embrace the role of IPRs in kick-starting innovation

  • Develop and strengthen the base of scientists through training them in world-class drug discovery skills

  • Increase interaction between industry and academia

  • Pay attention to quality and leverage the global recognition earned for IT skills

  • Take the path of collaborative growth through global partnerships and alliances

  • Changing patent and other policies like data exclusivity help in changing scenario

    • SWOT Analysis

    Strengths

  • Expertise in reverse technology

  • Support at the state government level

  • Emergence of bio-tech parks

  • Incentives to develop business

  • Natural competitive advantages of language

  • Low costs and ever-expanding educated workforce

    • Weakness

  • The rising cost of healthcare delivery

  • Limited access to life saving drugs

  • Majority of private hospitals expensive for a normal middle class family

  • Government is responsible to improve primary healthcare infrastructure

    • Next

    * Contributed by: -
    Jyoti Singh & Sugandha Bhandari,
    PGDBM 2006,
    IMT, Ghaziabad.

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