Today, it is one of the country's most powerful sectors as far as income generation and employment opportunities are concerned. Coming from the last decade's 16 percent compound annual rate, the country has successfully emerged with more than $34 million in total value. Furthermore, the sector is expected to expand and reach a level of $40 billion in a little over two years. As soon as expats secure their permanent residency certificates, they are eligible for the government's health care benefits.
This unprecedented development in the country's health sector is due to several factors and topped by the country's population ballooning by 2 percent annually. If this growth rate is sustained for another 20 years, India will become the world's most populous nation with an enormous demand for health care. Other issues affecting the growth of the sector include the expanding middle class and a strengthening pharmaceutical industry.
India is one of the world's most attractive places for medical tourism. Not only does it boast the most state-of-the art medical and diagnostic facilities and topnotch medical practitioners, healthcare costs are also cheaper on this side of the globe. It comes with uncompromising expertise in the fields of cardiology, joint replacement, ophthalmology, and urology, among others. This system works for locals and expats alike, gaining a favorable reputation among foreigners considering expatriation in this country.
Indian health care policies have also paved the way for the private health insurance industry that is currently most favored. Due to the massive generation of employment opportunities by the business sector, more people have been enjoying better standards of living that make health insurance policies more affordable among the middle class. In a matter of three years since the health care sector was liberalized, about 10.3 million policies have been issued, a growth of 37 percent since 2001.
Part of the liberalization of health care in India is the introduction of high-tech methods of providing medical attention to residents in rural areas. With the support of the growing information and communication technology sector, urban-based doctors have been able to reach out to patients who would have otherwise had no access whatsoever to any significant amount of health care. Now, even rural folk are properly afforded medical attention by remotely diagnosing their illnesses, keeping track of their progress and even prescribing medication via remote access through the Internet.
Along with the restructuring of India's health care system came a heightened drive for excellence in the manufacture of medical equipment such as x-ray and electrocardiograph machines. Add to that the pharmaceutical industry's unstoppable growth that has led to India's emergence as the prime maker and exporter of several cheap but reliable drugs.
In terms of health care, India has become a symbol of a healthy transformation worth emulating across the globe. Again, this makes the country a growing favorite among expats and expat-hopefuls.
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