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Powering the Future of Healthcare: India’s Largest & No.1 Hospital Equipment Expo
Chennai (Tamil Nadu) [India], July 24: India is the largest democracy in the world with a vibrant market in Healthcare. According to the World GDP Ranking 2023 list, India is the 5th largest economy in the world, with a GDP of US$ 3.75 trillion. According to a NITI Aayog report, the hospital industry in India is expected […]
Chennai (Tamil Nadu) [India], July 24: India is the largest democracy in the world with a vibrant market in Healthcare. According to the World GDP Ranking 2023 list, India is the 5th largest economy in the world, with a GDP of US$ 3.75 trillion. According to a NITI Aayog report, the hospital industry in India is expected to reach $132 Billion by 2023 and shows no sign of slowing down in the far future, growing at a CAGR of 16-17%. With an expanding middle-class section, there are expectations of further higher investments in the private healthcare sector in the near future.
Challenges faced by Small, Medium Hospitals and Clinics:
Despite the growth, the hospitals face many barriers, such as technological challenges, availability of the latest modern medical equipment, financing issues, management issues, staffing concerns, cybersecurity, optimising workflows, price transparency, patient experience, telehealth etc.
Mostly nursing homes, small hospitals and clinics in tier 2 and 3 cities face a distinct disadvantage in the market when procuring hospital equipment or services. The Small and medium-sized hospital owners from tier II and III cities could not afford to have qualified purchase managers, and the medical equipment companies also do not have an adequate sales force to meet all these hospital owners. They neither had the choice nor the price advantage enjoyed by the biggies in the tier-1 cities. Thus, Medicall was born, bridging the gap between the doctors, hospital owners and key purchase decision makers with the medical equipment manufacturers by bringing them under one roof.
