Indian healthcare has demonstrated phenomenal growth and is now one of the leading sectors- both in terms of revenue and employment. The Healthcare market can become US$ 372 Billion by 2022. There is a significant scope for enhancing healthcare services considering that healthcare spending as a percentage of Gross Domestic Product (GDP) is rising.
Keeping in mind the significant growth potential of the Healthcare sector, India Healthcare Leadership Forum, was launched with a vision to build strong fundamental of trust amongst senior healthcare leaders to enable them to deliver sustainable profitable growth.
India Healthcare Leadership Forum conducted its first conference in New Delhi with GE Healthcare as its strategic partner. The theme of the conference was "Growth Opportunities in Healthcare Sector in India". The senior healthcare leaders brainstormed on the key challenges and opportunities for the healthcare sector in its growth journey and key expectations from the policy makers.
GE Healthcare India is the first company to design 'Make in India' advanced medical technologies for India and the world. It has three manufacturing sites in India - JVs with Wipro and Bharat Electronics Ltd. It has the largest R & D centre of GE Healthcare outside of the USA with 2000 plus technologists and 580 plus patents. Wipro GE Healthcare is actively engaged in NHM funded and PPP projects of various state governments - around 200 projects with 18 states in India. It is exclusively GE Healthcare Institute to lead Skill Creation and Skill Enhancement Programs through partnership with Tata Trusts, Narayana Health, Columbia Asia, American Heart Institute and Columbia University.
Marut Setia, Chief Marketing Officer-South Asia reinforced GE Healthcare commitment to provide quality care to underserved population in India. He also highlighted the efforts of GE Healthcare in capacity building initiatives in India. As a leading global medical technology and life sciences company, we provide a broad portfolio of products, solutions and services used in the diagnosis, treatment and monitoring of patients and in the development and manufacture of biopharmaceuticals. We help improve outcomes for healthcare providers and for therapy innovators around the world. This means increased capacity, improved productivity and better patient outcomes. We also aim to support our customers in the pursuit of precision health: health care that is integrated, highly personalized to each patient's needs and that reduces waste and inefficiency. We embrace a culture of respect, transparency, integrity and diversity.
Prabal Chakraborty, Co-Founder of India Healthcare Leadership Forum, spoke about how innovation can act as a catalyst for growth and how can we bring global innovation, latest technological advancements and quality products to serve Indian patients. The current VUCA (Volatile, Uncertain, Complex and Ambiguous) environment will lead to extraordinary challenges and opportunities. In this chaos, collaborative leadership will be the mantra of success in Healthcare Industry.
Mr. Gaurav Malhotra, Founder of India Healthcare Leadership Forum, said that this forum fosters collaborative exchange among top healthcare leaders in India. This is an incredible opportunity to network, share, and learn. Invaluable networks built by and for senior healthcare leaders to drive innovative ideas, validate strategies and solve critical leadership challenges through peer-to-peer collaboration.
Healthcare Industry in India -
The governments expenditure on the health sector has grown to 1.4 per cent in FY18 from 1.2 per cent in FY14. The Government of India is planning to increase public health spending to 2.5 per cent of the country's GDP by 2025.
The game changer can be Pradhan Mantri Jan Arogya Yojana (PMJAY), world's largest government funded healthcare scheme launched by GOI to provide health insurance worth Rs 500,000 (US$ 7,000) to over 100 million families every year.
