Indian healthcare sector is expected to grow to a whopping $158.2 billion in 2017 from just $78.6 billion in 2012; says a report from Equentis Capital. What’s more, even all segments within the industry are growing at a rapid pace, opening doors and creat
India’s healthcare system is developing rapidly and continuing to expand its coverage and services; spending in both public and private sector. It comprises the sub-sectors of hospitals, medical infrastructure, medical devices, clinical trials, outsourcing, telemedicine, health insurance and medical equipment. Strengthening the roots of Indian healthcare industry is Ayurveda. It is inspiring to see fast business growth in this 5000-year-old methodology and world's oldest health care system. It does not just treat ailments but is a complete philosophy that encourages the pursuit of a healthy lifestyle. It is known to be the 'mother of all healing systems' as it predates all other healing therapies and natural medicines.
As a business proposition, Ayurveda has a brilliant future in India due to the ever increasing demand for natural therapies. This huge demand is driven by various factors like stressful working culture, exhaustive lifestyle, the endless quest for peace, growing ailments with less healthy environment etc. People are on a constant run for serenity and are ready to splurge on services that can offer them the same in a natural way.
The total size of the Indian Ayurvedic market is Rs 50 billion and is growing substantially at a rate between 10-15 per cent. The same growth rate is targeted for the next 10 years.
Many brands in this segment are taking to franchising as the mode of expansion. They are looking for suitable partners who can connect with them and take the brand to new highs, keeping the core competence intact.
Reaping Benefits of Ayurveda
‘Vishwam-angal Super Speciality Ayurved And Panchakarma Hospital' is known for its services in Ayurveda and Panchakarma for treating all types of chronic diseases.
With a vision to make the benefits of Ayurveda available to the common man, Vishwamangal was established by Dr Snehalkumar Rahane in 2001.
This super speciality hospital started out in Thane and Dadar (Maharashtra) and got overwhelming response. It now wants to expand to different parts of the country and is looking for individuals with a medical background and financial capability to handle the business.
“Ayurvedic doctors, chemists and pharmacists with experience in the medical field can be a part of the set-up. Our franchisees should also have management experience with capabilities to handle daily operations and effective interpersonal skills to maintain healthy customer relations”, says Dr Snehalkumar Rahane, MD and CEO, Vishwamangal Super Speciality Ayurved And Panchakarma Hospital Pvt Ltd.
Another opportunity to venture into the ayurveda stream of medicine and care comes from 'Sanecare Madhavbaug Ayurvedic Cardiac Hospital', an ISO certified cardiac rehabilitation centre that treats heart diseases using Ayurveda.
Sanecare is a renowned name in Ayurvedic healthcare, having proven business acumen in herbal plantation project, pharmaceuticals, first of its kind Ayurvedic cardiac rehabilitation center called 'Madhavbaug' and Vaidya Sane publishing house for promotion of preventive cardiology.
There are over 100 Madhavbaug Ayurvedic Cardiac Clinics (MACC) spread across Maharashtra.
A unique treatment called 'Sampurna Hriday Shuddikaran' (curing heart diseases with Ayurveda), invented by Dr Rohit Sane forms the USP of this brand.“We have an experienced team of senior doctors who ensure proper medical support. Third party audits help in supervision and day to day monitoring of franchise business for smooth business operation and growth”, says Dr Rohit Sane, Chairman and Founder, Sanecare Madhavbaug Ayurvedic Cardiac Clinics.
Dedicated to the mission of creating a happier and healthier society by reviving the use of traditional Ayurveda science, ‘Deep Ayurvedic Clinic’ was established in 2007 in Punjab by Dr Baldeep Kour. After a successful stint of 4 years, the brand also added a Panchkarma Clinic to its kitty. It reaches out to thousands of patients online as well. The brand uses only Ayurvedic and Panchkarma therapies to cure patients suffering from various ailments.
“Deep Ayurveda endeavours to be a trend setting, world class ayurvedic wellness clinic & Panchkarma centre offering quality and high standard treatment to its patients enabling them to improve and maintain their health and beauty with due regards to pre and post treatment concerns”, says Dr Baldeep Kour, Chief Medical Director, Deep Ayurveda.
The segment of Ayurveda offers two big advantages to the prospective investors. First, it is recession proof as the healthcare industry has always been. Second, it reaches out to consumers across all income groups. The Ayurveda market is expected to grow exponentially in the next few years.
The slim and fit version of profits!
Another segment in the Indian healthcare that's on a phenomenal rise is that of diet and slimming. A FICCI report in 2012 noted that of the Rs 5,000-crore fitness and slimming market, 90 per cent was dominated by slimming and fitness services and equipments and the rest by slimming products. This segment is expected to double by 2014 end.
Also, with continued focus on health foods and fortified products, the report says that the estimated health and wellness food and beverages segment is growing at 12 per cent annually and will be Rs 21,000 crore by 2014 end.
Rising cases of lifestyle diseases and growing awareness about maintaining a healthy routine have given birth to a number of slimming and wellness centers across the country.
These centers not just treat you for the disease you are suffering from, but also help you transform your lifestyle holistically.
‘Health Sanctuary’, a complete lifestyle and wellness services brand offers such services. With a motto to provide 'Total Health, Total Solutions', Health Sanctuary started out as a slimming, dermatology and laser clinic in Delhi in 2002. The brand seeks to enhance every individual's lifestyle and longevity and is known for its top of the line clinical non-invasive procedures for weight loss, inch loss, body contouring, body sculpting, toning, anti-ageing and all other skin/dermatological problems with innovative concepts.
Health Sanctuary presently has clinics all over Delhi, NCR and North India and boasts of more than 10 lakh satisfied customers. The group employs over 500 professionals and majority of them are doctors, nutritionists, cosmetologists, plastic surgeons, psychologists and physiotherapists.
“We look for utmost sincerity and integrity in our partners. Our franchisees should be able to stand tall on 3C's i.e. Capital, Commitment and Competence. We provide comprehensive support to our associates and treat them as family”, asserts Shubi Husain, Managing Director, Health Sanctuary.
Another brand with potential in this arena is ‘Diet Mantra’, providing complete nutrition and diet solutions. Diet Mantra, a nation-wide chain of diet and wellness clinics, is powered by well-known nutritionist Namita Jain (who has been a fitness mentor to many celebrities like Deepika Padukone, Sunil Shetty, Saina Nehwal etc).
Diet Mantra equips its franchisees with well designed training programs in form of manuals keeping in mind the various business backgrounds of the franchisees to make day to day operations smooth and effective.
In order to cater to high expectations of the clients and ensure the brand doesn't get diluted, training is given by different specialists on the company's panel and training sessions are conducted regularly.
Diet Mantra Corporate assists franchisees in identification and selection of staff as well.
“Diet Mantra franchise is a small budget, pocket friendly option with high returns and quick break-even, making it a very lucrative platform for young professionals to embark on an entrepreneurial journey”, says Aditi Srivastava, Director, Diet Mantra.
Growth drivers
India being a country with growing population, the country's per capita healthcare expenditure has increased at a CAGR of 10.3 per cent, from $43.1 in 2008 to $57.9 in 2011. This figure is expected to rise to $88.7 by 2015.
The factors behind the growth are rising per capita incomes, easier access to high-quality healthcare facilities and greater awareness of personal health and hygiene.
Also, India has emerged as one of the finest destinations for medical tourism. The cost of medical treatment in India is one-tenth in comparison to costs in the US and Europe.
“During the last financial year, Ayurveda-related tourism earned Rs 7,000 crore in revenue in India. Ayurveda is one of the fastest growing concepts in the mainstream healthcare segment. It is an officially recognised system of medicine in India and the World Health Organisation (WHO) recognises it as an accepted Traditional Medicine (TRM)”, informs Dr Baldeep Kour, Chief Medical Director, Deep Ayurveda.
Also, the country's main competitive advantage over its peers lies in its large pool of well-trained medical professionals in the country.
With sure shot growth on the cards and franchise opportunities available across various verticals, time is just ripe to foray into the healthcare sector. You'll not only make profits but also gain immense satisfaction, something that's rare to come by these days.
Industry trends
= The private sector has emerged as a vibrant force in India's healthcare industry. Private sector's share in healthcare delivery is expected to increase from 66% in 2005 to 81% by 2015.
= Hospitals & diagnostic centers have witnessed quite a boom in the recent years. Besides the demand created in the country, the sector has been blooming thanks to Foreign Direct Investment (FDI), which has been flowing-in in copious amounts- US$ 2,057.29 million during April 2000 to September 2013.
= There is substantial demand for high-quality and speciality healthcare services in tier-II and tier-III cities. To encourage the private sector to establish hospitals in these cities, government has relaxed the taxes on these hospitals for the first 5 years.
= Telemedicine (use of telecommunication and information technology in order to provide clinical health care at a distance) is also a fast emerging sector in India. In 2012, the telemedicine market was valued at $7.5 million, and is expected to grow at a CAGR of 20% to $18.7 million by 2017.
= Strong mobile technology infrastructure and launch of 4G is expected to drive mobile health initiatives in the country. Mobile health industry is expected to reach $0.6 billion by 2017, as per Equentis Capital report.
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