Future of Health and Healthcare in India – Achieving 5 Trillion Economy by 2047

India is seventh largest country in the world as far geography is concerned, while demographically it is the largest and economically it is third largest. India’s healthcare system has witnessed significant transformations since 1947, and as the nation aspires to become a 5 trillion-dollar economy by 2047, the role of health and healthcare assumes paramount importance. With a rapidly growing population, technological advancements, and evolving healthcare needs, India stands at a critical juncture to shape the future of its healthcare sector. The quadruple transition in form of economic, demographic, epidemiological, and nutritional, is putting pressure on every resource available in India. Despite rapid economic growth, improvements in physical infrastructure and human development, such as the status of women, education and health outcomes, have not been encouraging (UNDP, 2018).

The future of health and healthcare in India is closely linked to the country’s economic growth. With India’s growing economy, demand for healthcare services is also expected to increase. This demand will be driven by a number of factors. India’s population is ageing rapidly, and this will put a strain on the healthcare system. In 2047, the median age in India is projected to be 38 years, up from 28 years in 2022. Currently, doctor-population is inadequate at 9.28 doctors per 10,000 persons in India (2019), the while nurses & midwives (23.89 per 10 000 persons), dentists (2.04 2 per 10 000 persons), and pharmacists (8.89 per 10 000 persons) situation have improved during corresponding period.

In addition to communicable diseases like tuberculosis, malaria, hepatitis, typhoid, and influenza, the chronic diseases, such as diabetes, heart disease, and cancer, are becoming increasingly common in India. The people with these diseases suffer for longer durations which are costly to treat, and they place a significant burden on the healthcare system. The middle class in India is growing rapidly, and this will lead to an increase in the demand for private healthcare services. In order to meet the growing demand for healthcare services, India will need to make significant investments in its healthcare system. Some of the potential strategies and innovations that can propel India towards achieving the ambitious goal of becoming a 5 trillion-dollar economy by 2047 through the lens of health and healthcare are given below:

  1. Investing in Healthcare Infrastructure: India’s healthcare infrastructure is inadequate, and it will need to be expanded and upgraded. To build a robust healthcare system, India must prioritize investments in healthcare infrastructure. This includes the establishment of state-of-the-art hospitals, clinics, and primary healthcare centers in both urban and rural areas as well as improving the quality of existing facilities. Improved infrastructure will enable greater accessibility to quality healthcare services, attract medical tourism, and foster the growth of related industries.
  2. Leveraging Technology and Digital Health: The integration of technology and healthcare will be a key driver in transforming India’s healthcare landscape. India needs to adopt new technologies in healthcare, such as telemedicine and electronic medical records. These technologies can help to improve the quality of care and make it more accessible. Telemedicine, remote patient monitoring, electronic health records, and health information exchanges can bridge geographical barriers and provide healthcare services to remote areas. Additionally, leveraging artificial intelligence (AI), machine learning (ML), and big data analytics can enhance disease prediction, diagnosis, and treatment outcomes while optimizing healthcare delivery and reducing costs.
  3. Strengthening Public-Private Partnerships: Collaborations between the government and private sector are crucial to achieve the desired transformation in the healthcare sector. Public-private partnerships can drive innovation, increase investment flows, and improve service delivery. The government can incentivize private sector participation through tax benefits, funding support, and regulatory reforms, fostering a conducive environment for growth.
  4. Focus on Preventive and Primary Healthcare: Shifting the focus from curative to preventive and primary healthcare can yield significant benefits. By investing in awareness campaigns, preventive screenings, and promoting healthy lifestyles, India can reduce the burden of non-communicable diseases such as diabetes, cardiovascular ailments, and respiratory disorders. Strengthening primary healthcare centers and training healthcare professionals in rural areas will enhance early diagnosis and intervention.
  5. Skilling and Training Healthcare Workforce: A well-trained and skilled healthcare workforce is essential to deliver quality care. India needs to train more doctors, nurses, and other healthcare professionals. Academia should be sensitized for coming out with affordable courses for healthcare professionals. India should invest in medical education, nursing schools, and allied healthcare training institutes to ensure an adequate supply of healthcare professionals. Emphasizing continuous medical education, upskilling, and reskilling will enable the healthcare workforce to keep pace with evolving technologies and best practices. India has potential not only to fulfill local demand, but can send its trained manpower to other countries, which can bring in foreign currency.
  6. Affordable and Accessible Healthcare: Ensuring affordable and accessible healthcare for all is crucial to meet the healthcare needs of India’s diverse population. Manufacturers play crucial roles on the affordable and accessible health products. The government can explore innovative financing models, health insurance schemes, and price regulation mechanisms to make quality healthcare affordable. Moreover, the use of generic drugs, local manufacturing of medical devices, and incentivizing research and development in healthcare can contribute to cost reduction.
  7. Health Product Parks: They can play a very important role to bring down the cost and help in positioning products in the reach of every individual. Common manufacturing facility, market research, warehousing, approval facilitation, post-sale service of the medical devices are need of the hour, as the industry people are facing challenges in these procedures.
  8. Research and Innovation: Encouraging research and innovation in healthcare can lead to breakthroughs in treatment, diagnostics, and preventive strategies. India possesses a wealth of scientific talent and research institutions. By fostering a culture of innovation, promoting collaboration between academia, industry, and healthcare providers, and increasing funding for research, India can emerge as a global leader in healthcare innovation.

Conclusion: The future of health and healthcare in India holds immense potential in propelling the nation towards becoming a 5 trillion-dollar economy by 2047. By focusing on infrastructure development, adopting & leveraging technology, strengthening public-private-people partnerships, emphasizing preventive healthcare, skilling/reskilling/upskilling the workforce, ensuring affordability & accessibility, and fostering research & innovation, India can build a robust healthcare ecosystem that caters to the needs of its population while contributing to economic growth. If India makes the necessary investments in its healthcare system, it can become a global leader in healthcare. The healthcare sector can help to create jobs and improve the quality of life for millions of people.

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