Healthcare is one of India’s largest sectors, 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 environmental science. Anybody and everybody working towards improving animal and plant life can be considered a part of the life sciences industry.
The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing public and private expenditure. India’s competitive advantage lies in its large pool of well-trained medical professionals. Of course, on its current growth trajectory, many more professionals will be required in each of the fields covered by the industry in the days to come.
India is 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. As is EMS (Emergency Medical Services).
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 the potential to steer the industry ahead to greater heights.
Nuclear medicine, a medical specialty that uses radioactive tracers (radiopharmaceuticals) to assess bodily functions and to diagnose and treat disease, is progressing rapidly. The requirement for specialists who understand the discipline and can handle the critical equipment that it deploys is rising rapidly.
Ushankk, a staffing and executive search firm, plays an important role in securing the right resources for many of these roles.
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