India Hospital Market Size, Share, Trend and Forecast 2027 | TechSci Research

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PUBLISHED JUNE 2021
FY2017 FY2027F
India Hospital Market
FORECAST AND OPPORTUNITIES
www.techsciresearch.com
MARKET INTELLIGENCE . CONSULTING
2

• Table of Contents

S. No. Contents Contents Contents
1. Product Overview Product Overview Product Overview
2. Research Methodology Research Methodology Research Methodology
3. Impact of COVID-19 on India Hospital Market Impact of COVID-19 on India Hospital Market Impact of COVID-19 on India Hospital Market
4. Executive Summary Executive Summary Executive Summary
5. Voice of Customer Voice of Customer Voice of Customer
5.1. Brand Awareness Brand Awareness
5.2. Criteria for Choosing a Hospital Criteria for Choosing a Hospital
5.3. Preferred Choice of Hospital, By Ownership Preferred Choice of Hospital, By Ownership
6. India Hospital Market Outlook India Hospital Market Outlook India Hospital Market Outlook
6.1. Market Size Forecast Market Size Forecast
6.1.1. By Value
6.2. Market Share Forecast Market Share Forecast
6.2.1. By Ownership (Private, Public, PPP)
6.2.2. By Type (General, Multi-Specialty, Specialty)
6.2.3. By Bed Capacity (Up To 100 Beds, 101-300 Beds, 301-700 Beds, Above 700 Beds)
6.2.4. By Regionality (Regional/District, Rural, Others)
6.2.5. By Type of Services (In-patient Services v/s Out-patient Services)
6.2.6. By Region
6.2.7. By Company (FY2021)
6.3. Product Market Map Product Market Map
6.3.1. By Ownership
6.3.2. By Type
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• Table of Contents

S. No. Contents Contents Contents Contents
7. India Private Hospital Market Outlook India Private Hospital Market Outlook India Private Hospital Market Outlook India Private Hospital Market Outlook
7.1. Market Size Forecast Market Size Forecast Market Size Forecast
7.1.1. By Value By Value
7.2. Market Share Forecast Market Share Forecast Market Share Forecast
7.2.1. By Type By Type
7.2.2. By Bed Capacity By Bed Capacity
7.2.3. By Region By Region
7.2.3.1. By State (Top 3 States)
8. India Public Hospital Market Outlook India Public Hospital Market Outlook India Public Hospital Market Outlook India Public Hospital Market Outlook
8.1. Market Size Forecast Market Size Forecast Market Size Forecast
8.1.1. By Value By Value
8.2. Market Share Forecast Market Share Forecast Market Share Forecast
8.2.1. By Type By Type
8.2.2. By Bed Capacity By Bed Capacity
8.2.3. By Region By Region
8.2.3.1. By State (Top 3 States)
9. India PPP Hospital Market Outlook India PPP Hospital Market Outlook India PPP Hospital Market Outlook India PPP Hospital Market Outlook
9.1. Market Size Forecast Market Size Forecast Market Size Forecast
9.1.1. By Value By Value
9.2. Market Share Forecast Market Share Forecast Market Share Forecast
9.2.1. By Type By Type
9.2.2. By Bed Capacity By Bed Capacity
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• Table of Contents

S. No. Contents Contents Contents Contents Contents
9.2.3. By Region By Region By Region
9.2.3.1. 9.2.3.1. By State (Top 3 States)
10. Market Dynamics Market Dynamics Market Dynamics Market Dynamics Market Dynamics
10.1. Drivers Drivers Drivers Drivers
10.2. Challenges Challenges Challenges Challenges
11. Market Trends and Developments Market Trends and Developments Market Trends and Developments Market Trends and Developments Market Trends and Developments
12. Policy and Regulatory Landscape Policy and Regulatory Landscape Policy and Regulatory Landscape Policy and Regulatory Landscape Policy and Regulatory Landscape
13. India Hospital Construction Market Outlook India Hospital Construction Market Outlook India Hospital Construction Market Outlook India Hospital Construction Market Outlook India Hospital Construction Market Outlook
14. India Economic Profile India Economic Profile India Economic Profile India Economic Profile India Economic Profile
15. Competitive Landscape Competitive Landscape Competitive Landscape Competitive Landscape Competitive Landscape
15.1. Company Profiles Company Profiles Company Profiles Company Profiles
15.1.1. 15.1.1. Apollo Hospitals Enterprise Limited Apollo Hospitals Enterprise Limited
15.1.2. 15.1.2. Max Healthcare Institute Limited Max Healthcare Institute Limited
15.1.3. 15.1.3. Fortis Healthcare Limited Fortis Healthcare Limited
15.1.4. 15.1.4. Narayana Health Narayana Health
15.1.5. 15.1.5. Aster DM Healthcare Limited Aster DM Healthcare Limited
15.1.6. 15.1.6. Shalby Limited Shalby Limited
15.1.7. 15.1.7. Medanta The Medicity Global Health Pvt Ltd Medanta The Medicity Global Health Pvt Ltd
15.1.8. 15.1.8. Tata Memorial Center (TMC) Tata Memorial Center (TMC)
15.1.9. 15.1.9. All India Institute of Medical Science (AIIMS) All India Institute of Medical Science (AIIMS)
15.1.10. 15.1.10. Kokilaben Dhirubhai Ambani Hospital Medical Research Institute Kokilaben Dhirubhai Ambani Hospital Medical Research Institute
15.1.11 15.1.11 Sir Ganga Ram Hospital Sir Ganga Ram Hospital
15.1.12. 15.1.12. Lilavati Hospital Research Centre Lilavati Hospital Research Centre
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• Table of Contents

S. No. Contents
15. Strategic Recommendations
16. Average Spent on Medication Through Orthopedics and Gynecology Per Patient/Day
17. Molecules Prescribed By Orthopedic Surgeons, Obstetricians and Gynecologists
18. About Us Disclaimer
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Product Overview
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• Scope of Report
• Product of Interest (POI) Hospital

Hospital is an institution which is built,
staffed and equipped for diagnosis and treatment
of diseases and injuries, both medical and
surgical. A modern hospital can also serve as a
center for investigation and teaching. To serve
the demands of the modern population, the
hospitals provide inpatient services, outpatient
services, psychiatric services, emergency
services, rehabilitation services, among others.
There are certain multi-specialty hospitals which
along with other medical services provide
services related to cosmetics and dentistry. A
hospital can be privately owned, owned by
government/governments or can be based on
public-private partnership (PPP) ownership.
Market Segmentation
BY BED CAPACITY
BY OWNERSHIP

• Up to 100 Beds
• 101-300 Beds
• 301-700 Beds
• Above 700 Beds

• Private
• Public
• Public-Private Partnership (PPP)

INDIA HOSPITAL MARKET
BY REGIONALITY
BY TYPE

• Regional/District
• Rural
• Others

• General
• Multi-Specialty
• Specialty

BY TYPE OF SERVICES

• In-Patient Services
• Out-Patient Services

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Research Methodology
9

• Research Methodology

Market Profiling
Data Analysis
Data Collection
Developing List of Respondents
Formulating Questionnaire
Data Validation
In-depth secondary research was conducted to
determine top players in the India hospital
market, overall market size and segmental market
size.
The data was scrutinized using MS-Excel,
statistical tools and internal proprietary
database to obtain qualitative and quantitative
insights about the India hospital market.
Data obtained as a result of primary and
secondary research was validated through rigorous
triangulation.
TechSci conducted interviews with industry
experts and industry players for data collection
and verification.
In order to conduct industry experts interviews,
TechSci formulated a detailed discussion guide.
List of industry players and industry specialists
was developed.
Primary Research
Desk Research
Company Analysis

• Recent Developments
• Market Changing Aspects/Dynamics
• Government Policies
• Conclusion

• Market Participants
• Key Strengths

• Identifying Key Opinion Leaders
• Questionnaire Design
• In-depth Interviews

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• Research Methodology

• Baseline Methodology
• Our dedicated team of industry experts has
  monitored and analyzed various aspects of the
  India hospital market. The team has analyzed the
  outlook of various segments of this market, while
  considering the major influencing factors such as
  rising prevalence of diseases which has increased
  the demand for hospital services. The study
  includes market forecasting, which would enable
  our clients to take better decisions while
  planning their strategy to achieve sustainability
  in the India hospital market.
• Methodology Followed for Calculation of Market
  Size
• Market Size by Value Market size, in terms of
  value, for FY2021 was calculated based on
  information collected through exhaustive
  secondary research and primary surveys, with
  various key opinion leaders/stakeholders, such as
  hospital chain companies, market influencers
  end-users, industry experts, and other industry
  participants.
• The team interviewed more than 15 20 hospital
  chain companies, 100 120 end-users, and 15 20
  industry experts and other value chain
  stakeholders in the India hospital market to
  obtain the overall market size from FY2017 to
  FY2021, which was validated by the Delphi
  technique. Taking standard deviation into
  consideration, the market size was averaged out
  to arrive at the market size data during
  FY2017-FY2021.

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• Research Methodology

• Respondents were asked about the current and
  future market growth rates, market shares by
  ownership, by type, by bed capacity, by
  regionality, by type of services, by company and
  by region. Removing the outlier responses, the
  geometric mean of growth estimates and provider
  wise revenue shares generated across various
  segments were considered, to arrive at the final
  revenue shares. Revenue shares generated across
  various segments were further triangulated from
  other stakeholders.
• Methodology Followed for Calculation of Market
  Shares
• Market share by ownership, by type, by bed
  capacity, by regionality, by type of services, by
  company and by region were calculated based on
  the responses received through primary surveys
  with industry experts, in which the respondents
  were asked about the market shares or revenue
  generated from various segments of India hospital
  market. The final shares were calculated by
  taking the geometric mean of the responses
  gathered from key opinion leaders after
  eliminating the outliers.
• Methodology Followed for Forecasting
• TechSci Research performed periodical checks on
  data collected through the surveys with logic
  checks and analyzed the survey results in
  SPSS/Tableau Software.
• Data triangulation techniques were applied to
  fill the gaps and to present a more meaningful
  picture of the market. To forecast the India
  hospital market, TechSci Research used various
  forecast techniques such as
• Moving Average
• Time Series Analysis
• Regression Analysis
• Econometric and Judgmental Analysis

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• Research Methodology

TechSci Research used its own forecast tool,
which is based on the growth of various allied
industries in respective regions. TechSci
Research also used the impact analysis during
short, medium and long term period to estimate
the demand and to reach accurate market numbers.
It should be noted that the figures compiled are
only for the organized market including market
share data. The currency used in the report is
the United States Dollar (USD), with the market
size indicated in USD billion.
Partial List of Companies Interviewed Key Secondary Sources
Apollo Hospitals Enterprise Limited Max Healthcare Institute Limited Fortis Healthcare Limited Narayana Health Aster DM Healthcare Limited Shalby Limited Medanta The Medicity Global Health Pvt Ltd Tata Memorial Center (TMC) All India Institute of Medical Science (AIIMS) Kokilaben Dhirubhai Ambani Hospital Medical Research Institute Sir Ganga Ram Hospital Lilavati Hospital Research Centre World Bank TechSci Research Proprietary Database Knowledge Repository Company Annual Reports Industry Magazines Industry Reports News Dailies Credible Paid Databases Ministry of Health Family Welfare (MoHFW) Indian Medical Association (IMA) Nathealth- Healthcare Federation of India Medical Council of India Central Bureau of Health Intelligence (CBHI)
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Industry Brief
According to TechSci Research report, India
Hospital Market By Ownership (Public, Private,
PPP), By Type (General, Multi- Speciality
Hospitals, Specialty), By Bed Capacity (Up to 100
beds, 101-300beds, 301-700 Beds, Above 700 Beds),
By Regionality (Regional/District, Rural,
Others), By Type of Services (In-patient Services
v/s Out-patient Services), By Region, Forecast
Opportunities, FY2027, the India hospital market
stood at USD66.77 billion in FY2021 and is
expected to grow at a steady CAGR of 8.32 during
the forecast period. this can be attributed to
the increasing burden of aging population and is
expected to spur the growth of the India hospital
market through FY2027. The aging population is
susceptible to diseases and injuries thereby
increasing the rate of hospitalization.
Furthermore, growing medical tourism is another
factor driving the growth of the India hospital
market. People suffering from different ailments
travel from different countries to India in order
to avail the best possible treatment from best
doctors. Also, the overall treatment cost is less
in India for any disease or ailment. This in turn
is expected to positively influence the growth of
India hospital market over the next few years.
India stood at 10th position among the top 40
medical tourism destinations across the globe,
with an overall medical tourism index of 69.80.
However, high cost of constructing and
maintaining a hospital can hamper the market
growth through FY2027. Additionally, higher
attrition rate of staff in hospitals lead to
difficulty in allocation and planning of human
resources. Healthcare professionals are finding
lucrative and rewarding opportunities abroad,
prompting them to leave their organization in
India. The attrition rate is almost around 40-42
for doctors and nurses which is highest in the
hospital industry. This in turn is expected to
slow down the growth of the India hospital market
over the next few years. The India hospital
market is segmented based on ownership, type, bed
capacity, regionality, type of services, region
and company. Based on bed capacity, the market
can be segmented into Up to 100 beds, 101-300
beds, 301-700 beds and above 700 beds. The Up to
100 beds segment dominated the market in FY2020
and will continue maintaining its dominance in
the hospital market during the forecast period
since most of the hospitals in India are equipped
with bed capacity of up to 100 especially in the
rural areas and sub-urban areas. In the urban
areas, most of the hospitals are equipped with a
capacity of up to 100 beds. The 101-300 beds and
301-700 beds segment is expected to witness
significant growth during the next few years
since the pandemic crisis in the country and
shortage of hospital beds has created a huge
demand for hospitals with large bed capacity so
that they can accommodate patients in any kind of
pandemic or epidemics experienced in the future.
Based on type of services, the market can be
bifurcated into in-patient services and
out-patient services. The in-patient services
segment dominated the market in FY2021 with a
share of around 55.29 owing to the consumer
inclination towards availing the in-patient
services in case of hospitals. The patients
prefer getting admitted and then take the
services offered by the hospitals. While the
outpatient services segment are expected to
witness significant growth through FY2027 owing
to the penetration of multi-specialty hospital
chains wherein different services are available
under the same roof. Also, longer hospital stay
is an additional cost for hospitals, as it
reduces a hospitals capacity to admit new
patients, thereby supporting the growth of
out-patient services. Apollo Hospitals Enterprise
Limited, Max Healthcare Institute Limited, Fortis
Healthcare Limited, Narayana Health, Aster DM
Healthcare Limited, Shalby Limited, Medanta The
Medicity Global Health Pvt Ltd, Tata Memorial
Center (TMC), All India Institute of Medical
Science (AIIMS), Kokilaben Dhirubhai Ambani
Hospital Medical Research Institute, Sir Ganga
Ram Hospital, Lilavati Hospital Research
Centre, and others are some of the leading
players operating in India hospital market.
West region is expected to register the highest
growth in the India hospital market during the
forecast period. This can be attributed to the
growing disease burden and mortality across
various states in the Western parts of the
country including Maharashtra, Gujarat, Madhya
Pradesh, among others. This in turn has
significantly increased the demand for new
hospitals, increasing the bed capacity and
improving the infrastructure of the existing
hospitals in these parts of the country.
Additionally, the pandemic crisis has exposed the
true colors of the healthcare industry and
hospitals in the country. With states like
Maharashtra and Rajasthan being significantly hit
by the pandemic crisis and beds shortage, the
forecast period is likely to witness a lot of new
developments in the hospital infrastructure in
these regions. said Mr. Karan Chechi, Research
Director with TechSci Research, a research based
India management consulting firm.
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Sample Data - Snapshot
India Hospital Market Size, By Value (USD
Billion), FY2017-FY2027F
CAGR FY2017-FY2021 By Value xx
CAGR FY2022E-FY2027F By Value xx
India Public Hospital Market Share, By Type, By
Value, FY2017-FY2027F
India Public Hospital Market Share, By Type, By
Value, FY2017-FY2027F
15
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• FORECAST AND OPPORTUNITIES
• FY2017 FY2027F

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