India is the second most populated country in the world with over 1.3 Bn people. The growing population has significantly increased the demands for basic amenities such as food, clothing, shelter, jobs, and healthcare.
While deep technology penetration has definitely improved the quality of the healthcare industry and also led to many healthtech startups and offerings in India, the opportunities are not equally available to the entire country due to increased population.
A recent report revealed the grim situation of the healthcare industry in India which said that the country has a shortage of an estimated 6 Lakh doctors and 2 Mn nurses. Apart from this, private Indian healthcare is not affordable for a majority of citizens, while public healthcare infrastructure is not adequate for the Indian market.
According to data by the US-based Center for Disease Dynamics, Economics & Policy (CDDEP), the major healthcare problems are further fueled by the government’s limited investment in the space, and low allocation for healthcare projects in the national budget.
The report explained that 65% of healthcare in India is beyond the affording capacity of general people and is also driving almost 57 Mn people to poverty each year.
While the costs of healthcare service alone is enough to discourage Indians from getting treatments, lack of doctors and healthcare services forms the death blow to this industry. According to the World Health Organization, India had one doctor for every 921 people, as of December 2017. – Inc42