Private Hospital Sector in India 2021
Market insights:
Hospitals are the major stakeholders in India’s healthcare ecosystem. About 70% of the rural population and 80% of the urban residents rely on private hospitals. High disposable income, rise in population, and changes in disease profiles are driving the expansion of the market. Furthermore, the Ayushman Bharat initiative has strengthened the healthcare system, from primary to tertiary care. The private hospital sector was valued at INR 9,995.06 Bn in FY 2021. It is expected to reach INR 25,429.49 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~20.53% during the FY 2021 ? FY 2027 period
Segment insights:
It has three segments – self-pay, government payer, and corporate insurer. Initially at the beginning of 2020, the self-pay segment dominated the market, followed by government payer. However, owing to the expansion of insurance coverage by both government and corporate insurers, the corporate insurer segment is anticipated to experience noticeable growth.
Increase in purchasing power, growing demand for quality healthcare, technological advancements, and development of private hospital networks have fueled the growth of corporate medical insurance. It ensures patients’ entitlement to accidental hospitalization, COVID-19 insurance, daily hospital benefits, critical illness cover, and maternity coverage.
Impact of COVID-19:
The second wave of COVID-19 affected the private hospital sector because patient footfall, both, domestic and international, declined. High infection rates and lockdowns compelled hospitals to pause non-emergency, and outdoor patient department (OPD) and indoor patient department (IPD) services. Medical tourism also declined due to travel restrictions.
Despite the initial dip in footfall, signs of recovery in patients and relaxed lockdown norms by the end of July 2021 marked an increase in hospital occupancy rate. Although the initial setback caused a nationwide crisis in India’s primary healthcare, key changes in the sector such as flexibility in operations, improved health insurance, and cost-effective medical tourism will strengthen the private hospital sector.
Hospitals are the major stakeholders in India’s healthcare ecosystem. About 70% of the rural population and 80% of the urban residents rely on private hospitals. High disposable income, rise in population, and changes in disease profiles are driving the expansion of the market. Furthermore, the Ayushman Bharat initiative has strengthened the healthcare system, from primary to tertiary care. The private hospital sector was valued at INR 9,995.06 Bn in FY 2021. It is expected to reach INR 25,429.49 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~20.53% during the FY 2021 ? FY 2027 period
Segment insights:
It has three segments – self-pay, government payer, and corporate insurer. Initially at the beginning of 2020, the self-pay segment dominated the market, followed by government payer. However, owing to the expansion of insurance coverage by both government and corporate insurers, the corporate insurer segment is anticipated to experience noticeable growth.
Increase in purchasing power, growing demand for quality healthcare, technological advancements, and development of private hospital networks have fueled the growth of corporate medical insurance. It ensures patients’ entitlement to accidental hospitalization, COVID-19 insurance, daily hospital benefits, critical illness cover, and maternity coverage.
Impact of COVID-19:
The second wave of COVID-19 affected the private hospital sector because patient footfall, both, domestic and international, declined. High infection rates and lockdowns compelled hospitals to pause non-emergency, and outdoor patient department (OPD) and indoor patient department (IPD) services. Medical tourism also declined due to travel restrictions.
Despite the initial dip in footfall, signs of recovery in patients and relaxed lockdown norms by the end of July 2021 marked an increase in hospital occupancy rate. Although the initial setback caused a nationwide crisis in India’s primary healthcare, key changes in the sector such as flexibility in operations, improved health insurance, and cost-effective medical tourism will strengthen the private hospital sector.
CHAPTER 1: EXECUTIVE SUMMARY
CHAPTER 2: SOCIO-ECONOMIC INDICATORS
CHAPTER 3: INTRODUCTION
3.1. Market definition and structure
CHAPTER 4: MARKET OVERVIEW
4.1. Private hospital sector in India – An overview
4.1.1. Market size and growth forecast based on value
(FY 2020 – FY 2027e)
CHAPTER 5: MARKET SEGMENTATION
5.1. Private hospital sector in India – Segmentation based on type (% share) (FY 2020 – FY 2027e)
5.1.1. Self-pay – Market size and growth forecast (FY 2020 – FY 2027e)
5.1.2. Government payer – Market size and growth forecast (FY 2020 – FY 2027e)
5.1.3. Corporate insurer – Market size and growth forecast (FY 2020 – FY 2027e)
CHAPTER 6: COVID-19 IMPACT ASSESSMENT
6.1. Overview
6.1.1. Impact on key operational metrics
6.1.2. Impact on financial performance
6.1.3. Impact on pricing
6.1.4. Impact on operations
6.1.5. Changes ahead
CHAPTER 7: MARKET INFLUENCERS
7.1. Market drivers
7.2. Market challenges
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Apollo Hospitals Enterprise Ltd.
Company information
Business description
Products/Services
Key people
Financial snapshot
Key ratios
Key financial performance indicators
Key business segments
Key geographic segments
Note – Financial information covered only for public companies
8.2. Aster DM Healthcare Ltd.
8.3. Fortis Healthcare Ltd.
8.4. HealthCare Global Enterprises Ltd.
8.5. Max Healthcare Institute Ltd.
8.6. Narayana Hrudayalaya Ltd.
8.7. Shalby Ltd.
8.8. Columbia Asia Hospitals Pvt. Ltd.
8.9. Manipal Health Enterprises Pvt. Ltd.
8.10. Medanta The Medicity
CHAPTER 9: RECENT DEVELOPMENTS
9.1. Recent developments
CHAPTER 10: APPENDIX
10.1. Research methodology
10.2. About Netscribes
10.3. Disclaimer
COMPANIES PROFILED
Companies
Apollo Hospitals Enterprise Ltd.
Aster DM Healthcare Ltd.
Fortis Healthcare Ltd.
HealthCare Global Enterprises Ltd.
Max Healthcare Institute Ltd.
Narayana Hrudayalaya Ltd.
Shalby Ltd.
Columbia Asia Hospitals Pvt. Ltd.
Manipal Health Enterprises Pvt. Ltd.
Medanta The Medicity
CHAPTER 2: SOCIO-ECONOMIC INDICATORS
CHAPTER 3: INTRODUCTION
3.1. Market definition and structure
CHAPTER 4: MARKET OVERVIEW
4.1. Private hospital sector in India – An overview
4.1.1. Market size and growth forecast based on value
(FY 2020 – FY 2027e)
CHAPTER 5: MARKET SEGMENTATION
5.1. Private hospital sector in India – Segmentation based on type (% share) (FY 2020 – FY 2027e)
5.1.1. Self-pay – Market size and growth forecast (FY 2020 – FY 2027e)
5.1.2. Government payer – Market size and growth forecast (FY 2020 – FY 2027e)
5.1.3. Corporate insurer – Market size and growth forecast (FY 2020 – FY 2027e)
CHAPTER 6: COVID-19 IMPACT ASSESSMENT
6.1. Overview
6.1.1. Impact on key operational metrics
6.1.2. Impact on financial performance
6.1.3. Impact on pricing
6.1.4. Impact on operations
6.1.5. Changes ahead
CHAPTER 7: MARKET INFLUENCERS
7.1. Market drivers
7.2. Market challenges
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Apollo Hospitals Enterprise Ltd.
Company information
Business description
Products/Services
Key people
Financial snapshot
Key ratios
Key financial performance indicators
Key business segments
Key geographic segments
Note – Financial information covered only for public companies
8.2. Aster DM Healthcare Ltd.
8.3. Fortis Healthcare Ltd.
8.4. HealthCare Global Enterprises Ltd.
8.5. Max Healthcare Institute Ltd.
8.6. Narayana Hrudayalaya Ltd.
8.7. Shalby Ltd.
8.8. Columbia Asia Hospitals Pvt. Ltd.
8.9. Manipal Health Enterprises Pvt. Ltd.
8.10. Medanta The Medicity
CHAPTER 9: RECENT DEVELOPMENTS
9.1. Recent developments
CHAPTER 10: APPENDIX
10.1. Research methodology
10.2. About Netscribes
10.3. Disclaimer
COMPANIES PROFILED
Companies
Apollo Hospitals Enterprise Ltd.
Aster DM Healthcare Ltd.
Fortis Healthcare Ltd.
HealthCare Global Enterprises Ltd.
Max Healthcare Institute Ltd.
Narayana Hrudayalaya Ltd.
Shalby Ltd.
Columbia Asia Hospitals Pvt. Ltd.
Manipal Health Enterprises Pvt. Ltd.
Medanta The Medicity
