Diversified Product offering

The Apollo Tyres group has a new Service offering to Indian consumers. The group has entered the promising health care services in India with their super speciality hospital in Gurgaon.

Christened Artemis Health Sciences (AHS), the 260-bed hospital over 8.3 acres of land will open next month. The group plans to concentrate on cardiology, oncology and orthopaedics in the hospitals.

A joint study by the Confederation of Indian Industry and McKinsey on the Health Care industry shows,
  • At the current pace of growth, medical tourism, currently pegged at US$ 350 million, has the potential to grow into a US$ 2 billion industry by 2012.
  • Health care spending in the country will double over the next 10 years. Private health care will form a large chunk of this spending, rising from Rs 690 billion (US$ 14.8 billion) to Rs 1,560 billion (US$ 33.6 billion) in 2012. This figure could rise by an additional Rs 390 billion (US$ 8.4 billion) if health insurance cover is available to the rich and the middle class.
  • The voluntary health insurance market, which is estimated at Rs 4 billion (US$ 86.3 million) currently, is growing fast. Industry estimates put the figure at Rs 130 billion (US$ 2.8 billion) by 2005.
  • With the expected increase in the pharmaceutical market, the total health care market could rise from Rs 1,030 billion (US$ 22.2 billion) currently (5.2 per cent of GDP) to Rs 2,320 billion (US$ 50 billion)-Rs 3,200 billion (US$ 69 billion) (6.2-8.5 per cent of GDP) by 2012.

The credibility and success rate of this Industry is driven by the fact that,
  • Indian specialists have performed over 500,000 major surgeries and over a million other surgical procedures including cardio-thoracic, neurological and cancer surgeries, with success rates at par with international standards.
  • The success rate in the 43,000 cardiac surgeries till 2002 was 98.5 per cent.
  • India's success in 110 bone marrow transplants is 80 per cent.
  • The success rate in 6,000 renal transplants is 95 per cent.

That's an extremely promising scenario in Health care.

Ref :http://www.ibef.org/industry/healthcare.aspx


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