The Indian Healthcare sector is growing at an unprecedented pace. In FY 22, the total healthcare sector in India reached a size of USD 349 billion, as per the report published in Hindustan Times. The market is presently growing at a CAGR of 17%. One of the biggest segments in the healthcare industry is the hospitals and healthcare centers which is sized at USD 280 billion. Other segments such as pharmaceuticals, medical devices, digital health, etc. are also growing at a commendable pace.
Indian healthcare is also an attractive ground for investors. To further incentivize investments, GOI has announced some lucrative policies. 100% FDI has been allowed under the automatic route in setting up hospitals, medical device factories, etc. 100% FDI has been allowed under automatic routes to set up green field pharma manufacturing. 74% has been allowed under the automatic route for brownfield projects.
India also offers lucrative tax holidays for investors, especially the ones who are planning to invest in small towns and rural India. For indigenously designed medical technologies, there is a tax holiday of 15 years.
Importance of Market Research in the Indian health care sector
The potential to grow in Indian health care is immense but to succeed one needs lots of data and insights. In other words, one would need a top-quality market research services.
The importance of market research in the Indian Healthcare Sector is immense. For many healthcare businesses, having great market research is one of the prerequisites before they begin to offer their services to the people in the form of- new launches, new markets, expanding the existing business, etc. And a company like The India Watch can be of great help in letting you learn about market demand, market size, and market growth drivers, along with building effective customer segments based on behavioural mechanisms, income groups, geography, demography, etc. TIW’s services are not just limited to covering these aspects. There are many other valuable services.
In fact, the company experts work on the personalized demands of the clients to attain optimum benefits.
The market research also aids in letting a business learn about what consumers want, their psychology, and how far can their understanding go regarding a single product or service. Launching a product in the market that leaves an impact on the consumer as a healthcare company requires a good market research study. And for this The India Watch can be your trusted partner.
Approach for an Effective Market Research Service in India
India is a vast country with tremendous business opportunities, making it a tough deal for businesses to get relevant consumers who can stick by the product or service for a lifetime. India has an expansive and powerful consumer class, being the world’s rapidly growing economy. Thus, to flourish in the Indian market, you need robust structural fundamentals for your business. And having said that, to be part of the Indian market, any newbie needs to understand the consumer here, their requirements and necessities, their expectations, etc. All this can be attained in the form of various research and surveys that The India Watch team conducts and get fruitful results from. The company offers the following surveys
Tailor-made healthcare industry-specific insights, data, market sizing, demand forecasting, etc. (hospitals, pharma, medical device sector, etc.)Consumer sentiments surveysFeasibility analysis (New Hospitals, diagnostic labs, e-pharma, etc.)For any query, feel free to drop us a mail at [email protected]
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