Healthcare itself means “heal through care”.
Since ages, one mantra which says “jaan hai, jahaan hai” and the glorified English version of this mantra “health is wealth” is the driving force for innovation and improvement.
Health is the general condition of a person’s mind, body and spirit, usually meaning to be free from illness, injury or pain. Health defined by World Health Organisation (WHO) in 1946 means “a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity.
Healthcare is the diagnosis, treatment and prevention of disease, illness, injury and other physical and mental impairments in humans. This heal through care (healthcare) concept was well understood by maharishis Charak and Sushrut centuries ago.
Healthcare is not merely a 10 lettered word; it is actually the outcome of cohesive effort of a cluster of professionals from various dimensions to provide a disease free society. These dimensions of healthcare are
A) Doctors (GP’s, FP’s, Consultants)
B) Associate Consultants (radiologists, dieticians, pathologists etc)
C) Hospitals (PC’s, multi speciality hospitals, super speciality hospitals etc)
D) Non professional assistants (nursing staff, physicians’ assistants, hospital assisting staff etc)
This is the story of one side of the coin which is a vital source as far as disease free society is concerned. The other side of the coin which is of equal importance as far as healthcare is concerned include:
A) Drugs and pharmaceuticals, which are a major weapon.
B) Machines and instruments, either to diagnose the disease or to inject the medicine in the body
C) Health insurance to ensure getting quality treatment at quality centres
D) Quality control and R&D to provide newer and safer drugs and pharmaceuticals
As far as revenue and employment is concerned, healthcare is one of largest and fast expanding sectors in India. Today, total value of the sector is around $40 billion which is roughly 6 per cent of GDP. Our booming population, which otherwise is a negative factor, is one driver of growth. By 2030, India will be most populous nation and by 2050 our population is projected to be 1.6 billion. This population increase is due to decline in infant mortality and increase in life expectancy. By 2025, the number of Indians of at least 60 years of age will be triple the number in 2004. The Indian economy, estimated roughly at $ one trillion is growing in tandem with the population growth. Goldman Sachs predicts that Indian economy will be the only growing economy to maintain robust pace of growth of five per cent annually for next 45 years.
Expanding middle class: India’s thriving economy is driving urbanisation and expanding middle class. This in turn is enabling more disposable income to spend on healthcare. More women are entering workforce, boosting the purchasing power of Indian households. The ratio of women to men who have a college degree or higher education is 40:60. With faster growth in economy and rise in literacy rate major part of western and southern India will be middle class by 2020. Due to the rise in income Indians can afford to buy western medicines – a market only 16-18 per cent smaller than that of the UK.
Rise of disease: The other factor driving the growth of our country’s healthcare is rise in infectious and degenerative diseases. We are also threatened by emergence of AIDS as well as food and water borne illnesses. We are also experiencing rise in lifestyle diseases such as hypertension, cancer and diabetes which is reaching epidemic proportions. This is due to adoption of an affluent lifestyle filled with sugar and fat rich unhealthy western diets. These lifestyle diseases are outpacing infectious diseases.
Pharmaceuticals: Indian pharmaceutical market is one of the fastest growing markets in world. Sales increase to 7.3 billion dollars, an increase of 17.6 per cent as per IMS Health. Our domestic pharmaceutical industry is highly fragmented and more than 10000 firms collectively control 70-80 per cent of the market. Many of the Indian companies like Cipla, Ranbaxy, Dr.Reddy’s, Wockhart, Zydus Cadila etc. have created their own niche, not only in Indian market but on the international horizon too in the last two decades. Apart from these, many other small players are gaining the status of giants since their inception in the last decade. Biocon is one such example.
Rising income and affluent lifestyle is giving more opportunities to Indians to come closer to the world and be presentable. To look good and be presentable the demand for skin treatment clinics, oral hygiene clinics and hair care treatment clinics are on rise. This is giving an opportunity for new, innovative and safe pharmaceuticals and natural products’ development and introduction.
Rowan Bioceuticals Private Limited, a Delhi-based pharmaceuticals company has operative for the past seven years. In the endeavour to heal through care it is trying to provide some safe and innovative formulation and has introduced a product by name ‘klosh’ in capsules form to take care of androgenetic alopecia (hair loss). It has also introduced klosh shampoo which is the only detergent free shampoo in India.
Contact Details:
Arun Narang
Director
Rowan Bioceuticals Pvt Ltd
324, Vardhman Plaza
Plot No.12, Comm. Centre
Road No. 44, Pitampura
New Delhi – 110034
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