PRE-BUDGET RECOMMENDATIONS 2013-2014 – Dr Krishna Shama Rao, Medical Director- Mayaa Clinic and Foundation

The healthcare industry in its broadest connotation is considered to be one of the largest business verticals in the world estimated at $ 7 trillion in 2011 and growing at a CAGR of 10 per cent over the next five years. In India, the total healthcare market is estimated at $50 billion and expected to reach $280 billion by 2020, while the pharmaceutical market is estimated at $11 billion and is expected to touch $74 billion by 2020. With India fast growing as a hub for medical tourism for patients the world over, budget 2013 will be looked upon by the healthcare fraternity for support towards investment in developing and improving healthcare infrastructure and increase investment in R&D to develop superior medicines to help tackle the new forms of health issues that the world is facing today.