Healthcare has become one of India’s largest sector, both in terms of revenue and employment. Healthcare is an omnibus term that comprises hospitals, medical devices, clinical trials, pharmaceuticals, biotechnology, biophysics, outsourcing, telemedicine, medical tourism, medical equipment and even environment science. Anybody and everybody working towards improving animal and plant life can be considered a part of the Lifesciences industry.
The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well as private players. India’s competitive advantage lies in its large pool of well-trained medical professionals. Many more professionals will be required in each of the fields covered by the industry, in the days to come. Ushankk, a staffing company, plays an important role in securing the right resources for many of these roles.
India is also cost competitive compared to its peers in Asia and Western countries. The cost of surgery in India is significantly lower than that in the US or Western Europe carried out by medical professionals of similar quality and experience.
With the rising cost of healthcare, health insurance is also gaining momentum. India is the largest provider of generic drugs globally, supplying a significant portion of global demand for various vaccines. India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers with a potential to steer the industry ahead to greater heights.
The nimbleness that Ushankk can provide will be critical for players in the Lifesciences and Healthcare space to survive and thrive.