How prepared is India for an ageing population? | Competitive Intelligence Bytes – Sep 2016

Competitive Intelligence Bytes
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The world is ageing. Between 2015 and 2030, the number of older persons – aged 60 years and over – is expected to grow by 56%. The challenges that come with an ageing population can be overwhelming for an economy. According to the Asia Pacific Risk Center, Asia’s ageing population will cost the region $20 trillion in healthcare by 2030.
In 2002, the then Director-General of the World Health Organization said – “… the developed countries became rich before they became old, the developing countries will become old before they become rich.” India must prepare for this demographic change before it gets old. The opportunities are immense for the country’s healthcare sector.
India has already begun to address the needs of its ageing population. With rising hospital fees and an overburdened healthcare delivery system, and a tradition where typically families care for the elderly in their own homes, the country has seen a spurt in home-based healthcare.
India’s healthcare and hospital sector appears immune to recessionary trends. Growth in recent years has averaged 14-15%, even as other parts of the economy have struggled. We believe that double-digit growth will continue for at least a decade, if not more. The sector is transforming rapidly – with implications for all stakeholders.
Case study
Voice of Customer (VoC) enables Fortune 100 company tap an $80 million opportunity

A Fortune 100 multi-product company, with a presence in more than a hundred countries, and a large product portfolio for the hospitals sector, wanted to penetrate India’s growing hospital sector.

 

The company was unclear on how large their market was, and how best they should approach their customers – a problem worsened by the unorganized and fragmented hospital sector.

 

Find out how our customer intelligence helped the client develop an efficient strategy to increase their market share

 

And do read our case study on how our voice of customer study helped a Fortune 100 company tap a multi-million dollar opportunity in the And do read our case study on how our voice of customer study helped a Fortune 100 company tap a multi-million dollar opportunity in the hospitals segment.

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