Rising demand for affordable treatment and the high administrative cost of the healthcare industry is expected to drive the demand for Indian healthcare financing solution market. According to TechSci Research report, “India Healthcare Financing Solution Market By Services (Equipment & Technology Finance, Working Capital Finance, Project Finance Solutions, Corporate Lending), By Equipment (Diagnostic/Imaging Equipment, Surgical Instruments, Decontamination Equipment, IT Equipment, Specialty Beds, Others), By Healthcare Facility (Hospitals, Outpatient Imaging Centers, Outpatient Surgery Centers, Physical Practices & Outpatient Clinics, Diagnostics Labs, Urgent Care Clinics, Skilled Nursing Facilities, Pharmacies), By Company, By Region, Forecast & Opportunities, FY2027”, India healthcare financing solution market is expected to witness steady growth for the next five years.
Important Factors of India Healthcare Financing Solution Market
Healthcare finance solutions are the collection of financial capital solutions and provide the facility for funds transfer and movement to cover the healthcare industry-related expenses. To achieve financial stability, several healthcare industries are opting for healthcare financing solutions in the country. The adoption of digital technology by the healthcare industry in order to improve overall efficiency and alleviate the consumer experience is boosting the healthcare financing solutions market growth.
A maximum number of physicians and nurses overwork due to a shortage of available resources. By adopting efficient measures to install digital facilities as well as hire more professionals is paving the way for the healthcare financing market growth. The government is also encouraging electronic health records maintenance to promote transparency in the system and keep the data in an organized form and readily available at this time of need.
India has a large underprivileged population that requires significant support from the government to avail of healthcare services. Ayushman Bharat which is a national health protection scheme offers financial support for secondary and tertiary care hospitalization.
There is continuous corporatization of the healthcare industry in India. Existing healthcare facilities need to make a significant investments to keep up with advanced technologies and maintain quality treatment while new healthcare facilities need to make huge infrastructure investments. Revenue generation from healthcare facilities is lower than the profit made for a given period, therefore timely and adequate funding is required by the healthcare industry. However, an increase in the prevalence of cybercrime due to digitalization may hamper the market growth of the India Healthcare Financing Solution Market in the forecast period.
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India’s healthcare financing solution market is segmented into services, equipment, healthcare facility, region, and company. Based on healthcare facilities, the market is further divided into hospitals, outpatient imaging centers, outpatient surgery centers, physical practices & outpatient clinics, diagnostics labs, urgent care clinics, skilled nursing facilities, and pharmacies. Hospital segment is expected to dominate the market during the forecast period, FY2023-FY2027.
Increasing demand for hospitals and a growing number of hospitals in the country to cater to the needs of patients is fostering market growth. Rapid changes in laws, an increase in patient footfall, and the growing expansion of the healthcare sector are creating a market for financial assistance. Moreover, hospitals are expected to deliver quality treatment and obtain desired outcomes which are accelerating the Indian healthcare financing solution market. Based on the services segment, the market is fragmented into equipment & technology finance, working capital finance, project finance solutions, and corporate lending. Equipment & technology finance accounted for a major market share in FY2021 and is expected to hold a significant share during the forecast period. This is due to the fact that huge capital investments are required for treatment procedures and the required equipment for healthcare is also expensive in nature.
Major competitors in India’s Healthcare Financing Solution Market
- Philips India Limited
- GE T&D India Limited
- Siemens Financial Services Private Limited
- Thermo Fisher Scientific India Pvt. Ltd.
- Stryker India Pvt Ltd.
- Ramtirth Leasing and Finance Co Pvt Ltd (Arogya Finance)
- Paras Healthcare India Pvt Ltd
- Manipal Health Enterprises Pvt Ltd.
- Portea Medical Pvt. Ltd
- iGenetic Diagnostics Pvt. Ltd. is the leading player operating in India healthcare financing solution market.
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“Rising demand for telemedicine to boost the reach of the healthcare industry for all sectors of society in addition to growing penetration of the healthcare insurance sector to provide the facility for affordable treatment to people is on the rise.
E-health initiatives launched by the government of India coupled with the digital revolution in India by leading authorities require the assistance of healthcare financing solutions to provide the financial back-up for all services and technologies which is anticipated to contribute to the India healthcare financing solution market growth till FY2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Healthcare Financing Solution Market By Services (Equipment & Technology Finance, Working Capital Finance, Project Finance Solutions, Corporate Lending), By Equipment (Diagnostic/Imaging Equipment, Surgical Instruments, Decontamination Equipment, IT Equipment, Specialty Beds, Others), By Healthcare Facility (Hospitals, Outpatient Imaging Centers, Outpatient Surgery Centers, Physical Practices & Outpatient Clinics, Diagnostics Labs, Urgent Care Clinics, Skilled Nursing Facilities, Pharmacies), By Company, By Region, Forecast & Opportunities, FY2027” has evaluated the future growth potential of India healthcare financing solution market and provided statistics & information on market size, shares, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India healthcare financing solution market.
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