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Healthcare
Industry

Healthcare- the name itself suggests how important this particular sector is. It is one of the leading industries in the Indian economy comprising clinical trials, health insurance, equipment, etc.

The healthcare industry is one among most significant(the biggest) and most important industries within the world. It employs lots of people and provides vital services to millions more. The healthcare industry is additionally one amongst the foremost complex and controlled industries within the entire globe.

The healthcare industry is created from a range of various businesses and organizations that provide healthcare services, products, and knowledge to patients and other customers. The healthcare industry includes hospitals, clinics, physician practices, insurance companies, pharmaceutical companies, and lots of other varieties of businesses.

Company Case Studies

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Healthcare Industry Case Study

GROWTH

  • Starting with an example of one of the most famous healthcare giant, GSK are expecting a sales growth of more than 5% and operating growth of more than 10% CAGR 2021-22. This shows the potential and growth of just not GSK, but the entire industry as well.

  • The Indian healthcare sector is predicted to grow at a record CAGR of 22% between 2016–22 to achieve US$ 372 billion value in 2022.

  • Considering the Indian Healthtech industry alone, which was valued at $1.9bn back in 2020, is expected to grow to $ 5B by 2023 at a CGAR of 39%.

KEY FACTORS

  • The Indian healthcare industry is anticipated to make around 5 million new jobs by 2020.
     

  • The public health expenditure in India is currently around US$ 37 billion which is anticipated to extend to US$ 48 billion by 2020.
     

  • India also features a sizable amount of skilled healthcare professionals, with over 4 million registered doctors and over 9 million registered nurses.
     

  • Initiatives, like the Ayushman Bharat Scheme, to spice up the healthcare sector, aims to produce insurance to over 500 million people.
     

  • India contains a sizable amount of hospitals, with over 22,000 registered hospitals as of 2016.

VARIOUS SECTORS OF BEAUTY INDUSTRY

  • Hospital services 54%

  • Pharmaceutical Industry 25%

  • Health insurance services 15%

  • Medical devices industry 2%

  • Medical equipment industry 1%

  • Clinical research industry 0.5%

  • Biotechnology industry 0.5%

TECHNOLOGY IN BEAUTY INDUSTRY

Some of the key technologies behind the healthcare industry are as follows:

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  • 1. Electronic health records

  • 2. Health information exchange

  • 3. Telemedicine

  • 4. Personal health records

  • 5. Electronic prescribing

  • 6. Computerized provider order entry

  • 7. Clinical decision support systems

  • 8. Health analytics

  • 9. Big data in healthcare

  • 10. Population health management

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