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Lifesciences and Healthcare

Introduction

In the present day, health care is a very vast and fast growing industry in India. The industry includes therapeutic centres, hospitals, diagnostic centres and nursing centres as well as medical equipments, pharmaceutical manufacturing organizations and health insurance agencies. The healthcare industry, at present, faces twin challenges of coping up with industry regulations and changing business models. Health care companies and organizations need to improve their operational efficiency, meet regulatory compliances, streamline their internal procedures and develop strong customer relations in order to grow and expand further. The healthcare industry needs to adopt a more patient-centric approach when it comes to maintaining a strong healthcare system.


Trends and Developments
The healthcare industry which basically comprises medical devices, medical infrastructure, hospitals, outsourcing, health insurance, clinical trials, medical equipments and others is likely to touch the $7.8 trillion mark in 2013. Demand continues to grow in nations outside U.S, especially in countries such as India where the hospital services business is likely to reach $80bn by the year 2015.In 2012 alone, revenue from hospital services in India was more than $45bn. According to experts, this figure will increase at a 20% CAGR during the period 2012-2018. Gulf countries are expected to spend more than $15 billion in the next 20 years for executing various projects related to healthcare industry.The global healthcare spending is expected to grow at a CAGR of 5.5% during the forecast period 2013-2018.

The healthcare sector is transitioning from paper documents to electronic files ona gradual basis. The healthcare sector globally, supported by the information technology market, has registered tremendous growth figures in the recent few years.


Why Market Research is Important

Appropriate market research allows healthcare companies and organizations to better understand and assess their target customers. It enables them to meet their requirements too. By evaluating and studying the existing market conditions, patient mindset and needs, the healthcare sector can bring about major improvements in its overall approach, medical infrastructure and medical representatives. In case of healthcare industry, market research is collated from two main sources including patient feedback and data and research collected via the existing healthcare marketplace.

Careful and logical analysis of the data and information collected through market research allows healthcare organizations to plan strategically and provide high-quality healthcare services. It also provides them with an opportunity to analyze their costs, equipment requirements, hospital services, insurance market and healthcare infrastructure, which eventually helps them in enhancing their overall medical products and services offered by them.


Solutions

We help our clients, including pharmaceutical organizations and health care companies and experts, by providing them with accurate and detailed market research reports, internet marketing and strategically designed marketing services. Our research reports enable our customers to take timely and well informed decisions. IndustryARC offers a host of qualitative and quantitative healthcare marketing services and research reports that allows our clients to satisfy their clients completely. Our pharmaceutical research studies and health care assessments help our clients to meet the growing needs and demands of their patients.


Logical Estimates

Healthcare sector is growing at a rapid pace despite governmental regulations. The healthcare segment is investing in new healthcare programs and health related information technology services, which further allows them to strengthen their relations with their consumers, improve the quality of services, increase operational efficiency and minimize their costs, all at the same time.

The healthcare sector will continue to collaborate with health insurance plan providers and pharmaceutical organizations in the years to come. This would allow them to treat diseases appropriately and facilitate development and research processes further. In view of the fact that there are endless opportunities in areas like home nursing, medical equipment, fitness, elderly care, home healthcare, lab services, medical billing and gyms and weight loss centers. The Indian health care sector is all set to grow by leaps and bounds in future.
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