The Covid-19 pandemic has posed a tremendous set of hurdles to India’s healthcare system and industry during the last two years. It exposed all of the flaws in the system and brought attention to the need for a medical revolution. Despite the difficulties, there were possibilities. In a post-pandemic world, the Indian healthcare system has a unique opportunity to evolve while looking back and ready to launch into the future while keeping public welfare in mind.
India is already regarded as the pharmacy capital of the world. During the epidemic, India launched the world’s largest vaccination campaign, administering about 170 million immunizations and exporting over 5 million vaccine doses to 70 countries, solidifying its position in the healthcare industry. Today, the country is in the midst of a medtech revolution, with rising infrastructure and investments, due to an increasing need for medical treatment. India is also a fantastic destination for medical tourism, which adds to its allure. Many firms have begun manufacturing Ultrasound, CT Scanners, Ventilators, and even MRI devices as part of the Make in India initiative. Because to Make in India, APMTZ has become a manufacturing centre, and the percentage of imported goods has decreased. Make in India will be a bigger success with a speedier clearance procedure and a Production Linked Incentive (PLI). Indian software businesses have made significant progress in developing AI, Teleradiology software, and HIS, RIS, and PACS software for international use. The National Digital Health Mission will serve as a springboard for offering the finest healthcare to everyone.
Today’s FDI and the Future of Healthcare
India has portrayed itself as a lucrative investment for foreign private actors in recent years, with the government’s active support, incentivizing and inviting Foreign Direct Investments (FDI) in the country. This has enabled investments in the establishment of hospitals, healthcare centers, and medical device production, resulting in increased growth and infrastructure development. This booming sector will also benefit from the government’s $6.8 billion credit incentive program. This, paired with India’s skilled and cost-effective labor systems, creates ideal ground for public-private collaboration.
Increasing personal and family health awareness
While the urban population is already focusing on self-monitoring and making lifestyle adjustments to prevent or manage sickness, the epidemic has heightened the need for fitness. Preventive medicine and health screening are increasing in popularity as people’s purchasing power rises and more young people enter the workforce. To keep track of one’s health, the novel coronavirus emphasized personal hygiene, fitness, and diet, as well as preventive monitoring and medical exams. With the number of cancer cases in the country on the rise, it’s more important than ever for individuals to recognize the indications and get treatment as soon as possible.
Recommendations for improving Indian healthcare
Even with a constant growth rate, the healthcare industry has holes that can be filled. Despite having the world’s largest working-age population, India still lacks enough medical practitioners to meet everyone’s needs. The doctor-patient ratio in India is 1:834, according to a recent official answer. While this is better than the WHO’s recommended (1:1000), it still falls short of what developed countries have. Here are some suggestions to make sure no patient falls between the cracks:
- The most essential infrastructural initiative would be a faster implementation of the National Digital Health Mission.
- Tele-radiology and AI-based reporting technologies could help bridge the Doctor-to-Patient Gap.
- High-end products such as MRIs, CT scanners, and ultrasound machines made in India at inexpensive pricing would help to expand the installed base in tier 2 and 3 cities.
- India is noted for its low-cost innovation and vast range of applications. With the correct assistance, we can accelerate the medical business by encouraging a culture of innovation. Not only for Indians, but for people all around the world, the country has enormous potential to grow and promote new and emerging ideas.
- Innovation, backed by a culture of scientific study unique to the Indian subcontinent, will not only improve patient care but will also keep us up to date on physiology unique to our region.
- Indians can avoid travels to healthcare facilities through early detection and home management, if possible, through routine healthcare screening.
- By replicating some of the tactics utilized in the engineering sector, India may leverage its medical business by adding more medical schools and institutes.
- We can encourage students from all socioeconomic backgrounds to pursue a career in medicine by making loans easier to obtain and lowering the cost of medical education.
- Because of the country’s overall shortage of experts, an investment in specialists and a drive toward specialized medicine will benefit the country greatly.
India has the potential to become a healthcare behemoth, thanks to a number of variables working in its favor. It only needs to take the appropriate moves in the right way to become a powerhouse in this industry.