INDIA'S HEALTHCARE SECTOR $280 BILLION BY 2020 AND PACKAGING ~ $7 BILLION

packagingconnections
February
09
/ 2012

 Very interesting data under India Shining in the Times of India , New Delhi 09 February 2012. It says that Indian healthcare sector is estimated to grow to around $280 billion by 2020, according to data sourced from FICCI. It also mentions that a large number of Indians do not have access to quality affordable healthcare particularly in rural India. It is estimated that 39 million Indians fall below poverty line each year due to healthcare expenses, 47% of rural and 314 urban Indians finance their healthcare needs by loans, sale of assets etc. 30% in rural India don't visit hospitals because of high medical expenses and 70% of indians spend all their income on healthcare and buying drugs.

Now my point is that healthcare sector which is estimated $ 280 billion would include everything like hospital infrastructure, devices, drugs, training etc. Assuming 50% of this is on drugs, then drugs itself would be say about $140 billion. If we further guestimate, say 5% of this would be packaging and that means $7 billion would be healthcare packaging market in India. This is huge and so packaging professionals would really have good time and so would be the case with pharma packaging companies. What do you feel?