{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}


However interests of the government associations and

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: sociations and players, the market is growing and India is becoming a hub of manufacturing high-end medical devices. India is ranked 4th largest in medical equipment market after Japan, China and South Korea. Medical devices play a crucial role in diagnosis, prevention, monitoring, treatment of diseases and improving quality of life for people suffering from disabilities. The Medical Devices Market is worth Rs.5 billion Chart3: Market Segments within Medical Devices Medical Tourism Market : US$ 2.2 billion by 2012 Growth Rate Drivers & Challenges 25% per annum (Source: ASSOCHAM) Drivers: Challenges: Cost advantages To attract other countries to India for High success rates in treatment in India treatment Highest number of qualified doctors Trends Private sector hospitals foraying into medical tourism Government offering Medical Visas Medical Insurance Market : Current Projected US $ 1.45 billion in 2008-09 (Source :IRDA) US$ 3.8 billion by 2012 Growth Rate Drivers & Challenges 50% per annum Drivers: Young consumer segment with increasing disposable income. Challenges: Limited influence over healthcare delivery network Increasing cost of treatment Low levels of awareness Low per capita spends in insurance Trends TPA arrangements for ‘cashless hospitalisation facility Alliances with foreign players 8 Present Regulatory and Institutional frameworks for various market segments Since 1980, United States Agency for International Development and World Health Organization has played a major role in spreading the wave of quality in healthcare. The accreditation of health services is done by Joint Commission on Accreditation of Health Care Organizations (JCAHO), an independent not-for-profit organization whose primary purpose is to provide voluntary accreditation by issuing JCI (Joint Commission International) Accreditation Standards in 2002. The International Society for Quality in Healthcare (ISQua) is the apex body providing international programs to assess, survey and accredit the agencies involved in Healthcare Accreditation/External Evaluation/Standards Setting to assure quality benchmarks are met and continuously improved. Many countries all over the world have...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online