Ambulatory Surgery to Reduce Treatment Costs By 70%, Says Netscribes
Research on Global Markets, a major market research firm, published a report prepared by Netscribes on the ambulatory surgery market in India. According to the report, the country has the potential for immense growth. The market value in 2015 was around INR 250 Bn, and is estimated to expand at a compound annual growth rate (CAGR) of 15% till 2023.
Ambulatory surgeries are medical procedures after which patients are not required to stay overnight, since the surgeries are usually minor or less complicated. According to the report, treatment costs will be reduced by a massive 70%, once the concept of out-patient surgeries becomes popular. India is plagued with more than 20% of the world’s diseases but is home to only 6% of the total hospital beds.
Major sections of the Indian population find ambulatory surgery to be the preferred option because of financial constraints. It is also expected that almost 75% of the surgeries performed by 2020 will be on an out-patient basis.
A number of factors will drive the growth of the Indian ambulatory surgery market, including cost-effectiveness, developments in the healthcare segment, and other breakthroughs in therapeutics.
India lacks proper medical care facilities for a significant number of diseases, such as cancer, cataracts, and various kidney ailments. Also, medical inflation in the country was around 15% in 2017, at a time when the government was spending 14% of the GDP on healthcare. This emphasizes the fact that it is essential to develop more ambulatory surgery centers in India so that the exorbitant costs of healthcare can be minimized to a certain extent.
Check out the Research on Global Markets report featured in this article:
Key highlights of this report:
- Market size and growth forecast of the ambulatory surgery market
- Scope and segmentation of the global ambulatory service market
- Overview of the Indian market based on the delivery format of day care centers
- Analysis of the key drivers and challenges affecting the market
- Analysis of the competitive landscape in India with respect to the companies that provide day care surgery facilities
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the current scenario surrounding ambulatory surgery in India to determine the viability of the market, develop strategies based on the drivers, and to help healthcare organizations identify competition and respond accordingly.