India, off late has been able to attract many industries because of the globalization, favorable market conditions, huge population base and ever growing middle income group and their purchasing power. One industry that has been the feather in the crown for the country has been the Healthcare Industry, which has been growing with leaps and bounds during the past few years. The growth in this industry has been phenomenal and has been in the tune of 10% per annum.

Key Market Drivers

1. Growing Middle Class Population
2. Increase in healthcare spending
3. Favorable Government policies
4. Inflow of foreign patients to India
5. Healthcare-IT outsourcing like tele-medicine
6. High Competition

HEALTHCARE SPENDING IN INDIA

A major demand and supply gap in the Indian market is one of the force for attracting more and more investment and thereby leading to further developments. The facilities at the government run hospitals are below par and are unable to meet the expectations of the consumer. But in the recent past government has looked into this matter and has been encouraging private investment in the industry with an aim to provide people with the modern day facilities.

Growth in the Indian Healthcare Market has lead to growth in Health Imaging Market as well. This growth is expected to continue for next 5 years, atleast. Its is expected that the Indian Health Imaging market is expected to grow from US $ 351 Million in 2004 to US $ 762.77 Million by 2009 at a Compound Average Growth Rate of 17%. This period would experience growth in some latest technologies like PET, SPECT and nuclear medicine. Besides, CT Scan and MRI would also see an upward surge. On the other hand generic investigations like X-Ray & Ultra Sound are expected to see a lower growth rate. The chunk of modalities, X-Ray, Ultrasound, CT - Scan and MRI are expected to have major share of 68.6%.

INDIAN HEALTH IMAGING MARKET