1© TechSci Research

India Hospital MarketFORECAST AND OPPORTUNITIES

FY2017 – FY2027F

PUBLISHED: JUNE 2021

M A R K E T I N T E L L I G E N C E . C O N S U L T I N G www.techsciresearch.com

2© TechSci Research

Table of Contents

S. No.

Contents

1. Product Overview2. Research Methodology3. Impact of COVID-19 on India Hospital Market4. Executive Summary 5. Voice of Customer

5.1. Brand Awareness5.2. Criteria for Choosing a Hospital5.3. Preferred Choice of Hospital, By Ownership

6. India Hospital Market Outlook6.1. Market Size & Forecast

6.1.1. By Value6.2. Market Share & Forecast

6.2.1. By Ownership (Private, Public, PPP)6.2.2. By Type (General, Multi-Specialty, Specialty)

6.2.3. By Bed Capacity (Up To 100 Beds, 101-300 Beds, 301-700 Beds, Above 700 Beds)6.2.4. By Regionality (Regional/District, Rural, Others)6.2.5. By Type of Services (In-patient Services v/s Out-patient Services)6.2.6. By Region 6.2.7. By Company (FY2021)

6.3. Product Market Map6.3.1. By Ownership6.3.2. By Type

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Table of ContentsS. No. Contents

7. India Private Hospital Market Outlook7.1. Market Size & Forecast

7.1.1. By Value7.2. Market Share & Forecast

7.2.1. By Type7.2.2. By Bed Capacity7.2.3. By Region

7.2.3.1. By State (Top 3 States)8. India Public Hospital Market Outlook

8.1. Market Size & Forecast8.1.1. By Value

8.2. Market Share & Forecast8.2.1. By Type8.2.2. By Bed Capacity8.2.3. By Region

8.2.3.1. By State (Top 3 States)9. India PPP Hospital Market Outlook

9.1. Market Size & Forecast9.1.1. By Value

9.2. Market Share & Forecast9.2.1. By Type9.2.2. By Bed Capacity

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Table of ContentsS. No. Contents

9.2.3. By Region9.2.3.1. By State (Top 3 States)

10. Market Dynamics10.1. Drivers10.2. Challenges

11. Market Trends and Developments12. Policy and Regulatory Landscape13. India Hospital Construction Market Outlook14. India Economic Profile15. Competitive Landscape

15.1. Company Profiles15.1.1. Apollo Hospitals Enterprise Limited15.1.2. Max Healthcare Institute Limited15.1.3. Fortis Healthcare Limited15.1.4. Narayana Health15.1.5. Aster DM Healthcare Limited15.1.6. Shalby Limited15.1.7. Medanta The Medicity Global Health Pvt Ltd15.1.8. Tata Memorial Center (TMC)15.1.9. All India Institute of Medical Science (AIIMS)15.1.10. Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute15.1.11 Sir Ganga Ram Hospital15.1.12. Lilavati Hospital & Research Centre

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Table of ContentsS. No. Contents

15. Strategic Recommendations16. Average Spent on Medication Through Orthopedics and Gynecology Per Patient/Day17. Molecules Prescribed By Orthopedic Surgeons, Obstetricians and Gynecologists

18. About Us & Disclaimer

Product Overview

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Scope of ReportProduct of Interest (POI): Hospital

Review Period

FY2017 – FY2020

Base Year

FY2021

Estimated Year

FY2022

Forecast Period

FY2023 – FY2027

Year Range

BY REGION

• North• South• West• East

Hospital is an institution which is built, staffed and equipped for diagnosis and treatment of diseases and injuries, both medical and surgical. A modern hospital can also serve as a center for investigation and teaching. To serve the demands of the modern population, the hospitals provide inpatient services, outpatient services, psychiatric services, emergency services, rehabilitation services, among others. There are certain multi-specialty hospitals which along with other medical services provide services related to cosmetics and dentistry. A hospital can be privately owned, owned by government/governments or can be based on public-private partnership (PPP) ownership.Market Segmentation

• Up to 100 Beds• 101-300 Beds• 301-700 Beds• Above 700 Beds

BY BED CAPACITY

BY TYPE

• General• Multi-Specialty• Specialty

• Private• Public• Public-Private

Partnership (PPP)

BY OWNERSHIP

BY TYPE OF SERVICES

• In-Patient Services• Out-Patient Services

INDIA HOSPITAL MARKET

BY REGIONALITY

• Regional/District• Rural• Others

Research Methodology

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Research Methodology

Identifying Key Opinion Leaders

Questionnaire Design In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to

determine top players in the India hospital market,

overall market size and segmental market size.

In order to conduct industry experts’

interviews, TechSci formulated a detailed

discussion guide.

List of industry players and industry

specialists was developed.

TechSci conducted interviews with

industry experts and industry players for data collection and

verification.

Data obtained as a result of primary and secondary research was

validated through rigorous

triangulation.

The data was scrutinized using MS-Excel, statistical

tools and internal proprietary database to obtain qualitative and

quantitative insights about the India hospital market.

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights Business

Solution

Primary Research Desk Research Company Analysis

Recent Developments Market Changing

Aspects/Dynamics Government Policies Conclusion

Market Participants Key Strengths

LinkedIn TechSci Internal

Database

Factiva Hoovers

Paid Sources

Company Websites Company Annual

Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.

Secondary Research

Primary Research

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Research Methodology

Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of the India hospital market. The team has

analyzed the outlook of various segments of this market, while considering the major influencing factors such as rising prevalence of

diseases which has increased the demand for hospital services. The study includes market forecasting, which would enable our

clients to take better decisions while planning their strategy to achieve sustainability in the India hospital market.

Methodology Followed for Calculation of Market Size:

• Market Size by Value: Market size, in terms of value, for FY2021 was calculated based on information collected through

exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as hospital chain

companies, market influencers & end-users, industry experts, and other industry participants.

• The team interviewed more than 15 – 20 hospital chain companies, 100 – 120 end-users, and 15 – 20 industry experts and other

value chain stakeholders in the India hospital market to obtain the overall market size from FY2017 to FY2021, which was

validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out to arrive at the

market size data during FY2017-FY2021.

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Research Methodology

• Respondents were asked about the current and future market growth rates, market shares by ownership, by type, by bed capacity, by regionality, by type of services, by company and by region. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.

Methodology Followed for Calculation of Market Shares:

• Market share by ownership, by type, by bed capacity, by regionality, by type of services, by company and by region were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of India hospital market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast the India hospital market, TechSci Research used various forecast techniques such as:

Moving Average

Time Series Analysis

Regression Analysis

Econometric and Judgmental Analysis

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Research Methodology

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD billion.

Partial List of Companies Interviewed Key Secondary Sources

• Apollo Hospitals Enterprise Limited

• Max Healthcare Institute Limited

• Fortis Healthcare Limited

• Narayana Health

• Aster DM Healthcare Limited

• Shalby Limited

• Medanta The Medicity Global Health Pvt Ltd

• Tata Memorial Center (TMC)

• All India Institute of Medical Science (AIIMS)

• Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute

• Sir Ganga Ram Hospital

• Lilavati Hospital & Research Centre

• World Bank• TechSci Research Proprietary Database & Knowledge

Repository• Company Annual Reports • Industry Magazines• Industry Reports• News Dailies• Credible Paid Databases• Ministry of Health & Family Welfare (MoH&FW)• Indian Medical Association (IMA)• Nathealth- Healthcare Federation of India • Medical Council of India• Central Bureau of Health Intelligence (CBHI)

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Industry Brief

According to TechSci Research report, “India Hospital Market By Ownership (Public, Private, PPP), By Type (General, Multi- Speciality Hospitals, Specialty), By Bed Capacity (Up to 100 beds, 101-300beds, 301-700 Beds, Above 700 Beds), By Regionality (Regional/District, Rural, Others), By Type of Services (In-patient Services v/s Out-patient Services), By Region, Forecast & Opportunities, FY2027”, the India hospital market stood at USD66.77 billion in FY2021 and is expected to grow at a steady CAGR of 8.32% during the forecast period. this can be attributed to the increasing burden of aging population and is expected to spur the growth of the India hospital market through FY2027. The aging population is susceptible to diseases and injuries thereby increasing the rate of hospitalization. Furthermore, growing medical tourism is another factor driving the growth of the India hospital market. People suffering from different ailments travel from different countries to India in order to avail the best possible treatment from best doctors. Also, the overall treatment cost is less in India for any disease or ailment. This in turn is expected to positively influence the growth of India hospital market over the next few years. India stood at 10th position among the top 40 medical tourism destinations across the globe, with an overall medical tourism index of 69.80. However, high cost of constructing and maintaining a hospital can hamper the market growth through FY2027. Additionally, higher attrition rate of staff in hospitals lead to difficulty in allocation and planning of human resources. Healthcare professionals are finding lucrative and rewarding opportunities abroad, prompting them to leave their organization in India. The attrition rate is almost around 40-42% for doctors and nurses which is highest in the hospital industry. This in turn is expected to slow down the growth of the India hospital market over the next few years.

The India hospital market is segmented based on ownership, type, bed capacity, regionality, type of services, region and company. Based on bed capacity, the market can be segmented into Up to 100 beds, 101-300 beds, 301-700 beds and above 700 beds. The Up to 100 beds segment dominated the market in FY2020 and will continue maintaining its dominance in the hospital market during the forecast period since most of the hospitals in India are equipped with bed capacity of up to 100 especially in the rural areas and sub-urban areas. In the urban areas, most of the hospitals are equipped with a capacity of up to 100 beds. The 101-300 beds and 301-700 beds segment is expected to witness significant growth during the next few years since the pandemic crisis in the country and shortage of hospital beds has created a huge demand for hospitals with large bed capacity so that they can accommodate patients in any kind of pandemic or epidemics experienced in the future. Based on type of services, the market can be bifurcated into in-patient services and out-patient services. The in-patient services segment dominated the market in FY2021 with a share of around 55.29% owing to the consumer inclination towards availing the in-patient services in case of hospitals. The patients prefer getting admitted and then take the services offered by the hospitals. While the outpatient services segment are expected to witness significant growth through FY2027 owing to the penetration of multi-specialty hospital chains wherein different services are available under the same roof. Also, longer hospital stay is an additional cost for hospitals, as it reduces a hospital’s capacity to admit new patients, thereby supporting the growth of out-patient services.

Apollo Hospitals Enterprise Limited, Max Healthcare Institute Limited, Fortis Healthcare Limited, Narayana Health, Aster DM Healthcare Limited, Shalby Limited, Medanta The Medicity Global Health Pvt Ltd, Tata Memorial Center (TMC), All India Institute of Medical Science (AIIMS), Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute, Sir Ganga Ram Hospital, Lilavati Hospital & Research Centre, and others are some of the leading players operating in India hospital market.

“West region is expected to register the highest growth in the India hospital market during the forecast period. This can be attributed to the growing disease burden and mortality across various states in the Western parts of the country including Maharashtra, Gujarat, Madhya Pradesh, among others. This in turn has significantly increased the demand for new hospitals, increasing the bed capacity and improving the infrastructure of the existing hospitals in these parts of the country. Additionally, the pandemic crisis has exposed the true colors of the healthcare industry and hospitals in the country. With states like Maharashtra and Rajasthan being significantly hit by the pandemic crisis and beds shortage, the forecast period is likely to witness a lot of new developments in the hospital infrastructure in these regions.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

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Sample Data - Snapshot

India Hospital Market Size, By Value (USD Billion), FY2017-FY2027F

FY2017 FY2018 FY2019 FY2020 FY2021 FY2022E FY2023F FY2024F FY2025F FY2026F FY2027FValue (USD Billion)

CAGR FY2017-FY2021By Value: xx%

CAGR FY2022E-FY2027FBy Value: xx%

India Public Hospital Market Share, By Type, By Value, FY2017-FY2027F

FY2017 FY2018 FY2019 FY2020 FY2021 FY2022E FY2023F FY2024F FY2025F FY2026F FY2027F

India Public Hospital Market Share, By Type, By Value, FY2017-FY2027F

FY2017 FY2018 FY2019 FY2020 FY2021 FY2022E FY2023F FY2024F FY2025F FY2026F FY2027F

15© TechSci Research

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FY2017 – FY2027F

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.Related Reports

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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