DUBLIN, May 26, 2023 /PRNewswire/ -- The "Private Hospital Sector in India 2023" report has been added to ResearchAndMarkets.com's offering.
The private hospital sector in India was valued at INR 11,606.50 Bn in FY 2022. It is expected to reach INR 26,825.45 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~18.60% during the FY 2023 - FY 2027 forecast period.
In India, private hospitals are essential to the provision of healthcare services. Around 70% of people living in rural areas and about 80% of people living in cities largely rely on private hospitals as their primary source of healthcare. The healthcare system would be thoroughly strengthened by the Ayushman Bharat Yojana, from primary to tertiary care.
Segment insights:
The self-pay segment dominated the market in FY 2022, accounting for 40.66% of total revenue. The second-largest segment was government payer, followed by corporate insurer.
The self-pay segment is expected to decline in market share, falling from 40.66% in FY 2022 to 35.21% in FY 2027. The expansion of insurance coverage by both government and corporate insurers is expected to reduce the self-pay market segment's share.
Market drivers:
In comparison to government hospitals, private hospitals are better equipped to handle severe illnesses, have a better healthcare workforce, provide better treatment, and so on.
Government hospital hygiene issues, a lack of proper treatment/facilities, better insurance to cover costs, personalised services, disposable income, and other factors have led to an increase in demand for private hospitals.
Choosing private hospitals, home healthcare, and preventive care can reduce the likelihood of contracting chronic and noncommunicable diseases.
Market challenges:
Many people believe that private hospitals are prohibitively expensive, and that even minor treatments are overpriced. Besides that, changes to the Patient Protection and Affordable Care Act (PPACA) have resulted in significant reductions in reimbursements for some healthcare providers, including private hospitals.
Furthermore, lack of trained medical personnel makes it difficult for private hospitals to operate efficiently, jeopardizing their profitability and prominence.
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Market overview
4.1. Private hospital sector in India - An overview
4.1.1. Market size and growth forecast based on value (FY 2021 - FY 2027e)
Chapter 5: Market segmentation
5.1. India private hospital market based on payers (FY 2022 and FY 2027e)
5.1.1. Self-pay market in India - Market size and growth forecast (FY 2021 - FY 2027e)
5.1.2. Government payer market in India - Market size and growth forecast (FY 2021 - FY 2027e)
5.1.3. Corporate insurer market in India - Market size and growth forecast (FY 2021 - FY 2027e)
Chapter 6: Impact of COVID-19
6.1. Impact of COVID-19
Chapter 7: Market influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Competitive landscape
8.1. Apollo Hospitals Enterprise Limited
8.2. Aster DM Healthcare Limited
8.3. Fortis Healthcare Limited
8.4. Global Health Limited
8.5. HealthCare Global Enterprises Limited
8.6. Max Healthcare Institute Limited
8.7. Narayana Hrudayalaya Limited
8.8. Shalby Limited
8.9. Columbia Asia Hospitals Private Limited
8.10. Manipal Health Enterprises Private Limited
Chapter 9: Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/haukdx
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