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Why Is The Healthcare Industry Growing At Such A Rapid Pace?

The Healthcare Industry comprises of a group of sectors, working towards maintaining and re-establishing the concept of health. Activities such as Hospital Management, Medical Tourism, Health Insurance, Manufacturing Medical Equipment, and Telemedicine – among other such aspects – all fall under the bracket of the healthcare industry. In India, this industry is divided into two categories – Public and Private.

Healthcare is seeing massive development in the country. One of the primary reasons for this is that quality medical facilities are available at affordable costs in India. We have highly qualified medical professionals providing cost-effective services, making India one of the most sought-after destinations for medical services. In addition to this, several other factors are contributing to the growth of the Healthcare Industry in India as well. Here are a few of them:

AGEING POPULATION

The rise in life expectancy has aided the growth of the country’s healthcare sector. This trend is on an upward graph as the number of Indians nearing the age of 65 is expected to grow by nearly 50% by 2022. The elderly generally show more significant healthcare needs than young individuals, and this is one reason why the healthcare industry is showing tremendous growth and will continue to do so in the future.

POLLUTION AND POOR LIFESTYLE PATTERNS

The corporate culture has spread like wildfire in our country and people are increasingly adopting unhealthy lifestyle habits which lead to numerous debilitating conditions and illnesses. In addition to this, air and water pollution are causing people to fall sick more often than ever. Because of these reasons, more people are seeking medical help, adding up to the growth of the medical industry.

ADVANCEMENT IN MEDICAL TECHNOLOGY AND INFRASTRUCTURE

There has been an incredible improvement in healthcare technology, making it possible to cure and prevent several diseases that were incurable in the past. This has motivated more people to seek medical help. Moreover, the improvement in medical infrastructure – especially in the government sector – has helped more people get medical treatment. This improvement in medical technology has also contributed to the growth of the healthcare sector.

AWARENESS

With more and more people gaining awareness about diseases and symptoms, the usage of diagnostic services like x-rays, MRIs, and other scans has gone up. People now feel the need to get regular medical checkups and pay frequent visits to physicians to ensure that they are healthy. This increase in awareness around health and wellbeing has played a major role in facilitating the growth of the healthcare sector.

The impressive improvement in the healthcare industry has led to an increase of jobs in the sector, making healthcare an attractive career option for students. ICRI provides specialised courses in this domain in the form of an MBA in Healthcare and Hospital Management. This course is designed while considering the latest trends in the industry and enables students to stay relevant in their preferred field. With the help of this course, students can pave their way into this lucrative industry and pick up skills which will come in handy as they make their mark as professionals.

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The writer of this content is a talented writer. ICRI is a reputed educational institute that offers many useful courses to the students including clinical research courses.

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