Acute demand and affordability of technology have led to boom in oncology hospitals.
If there is one single super specialty that has caught the attention of investors in recent years, it’s oncology. After the boom in cardiac hospitals and cath labs around two decades back, the current spurt in oncology hospitals has been no less remarkable.
The profile of investors in the segment is unique. Firstly, there is oncology focused chain like Health Care Global Enterprises (HCG) with presence of over almost two decades in the market. Secondly, single location existing cancer hospital like Hyderabad based American Oncology Institute which is on growth trajectory pan India after receiving a funding of $33 million from TPG Growth. Thirdly, there is tertiary care hospitals like the Sterling Group that has recently forayed into standalone oncology hospitals. Fourthly, new entrants like Cytecare Cancer Hospitals.
But interest in oncology was feeble, a decade back. Several multi specialty hospitals that invested in centre of excellence, say, in cardiac, ortho and neuro, shied away from starting oncology as they perceived it as an incremental cost. Setting up an oncology department with radiation therapy required an investment of around Rs 15 crore to Rs 20 crore. The cost of setting up a bunker itself is Rs 1.5 crore.
So, what has led to the sudden spurt of oncology hospitals? First is the burgeoning demand. Around 1 million new cancer cases are added every year. The prevalence of cancer in India is expected to increase to ~7.1 million people by 2020 mainly due to demographic changes, increased exposure to risk factors like tobacco and alcohol consumption and growing awareness. According to Dinesh Madhavan, director, HCG “Due to increase in awareness and cutting edge technology, today more number of patients come in the early stage of the disease.”
Esta historia es de la edición March 2017 de Healthcare Radius.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 2017 de Healthcare Radius.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
ADDRESSING INDIA'S RURAL CARE GAP
Lakhs of rural Indians lack access to healthcare services. Learn the ways India can improve healthcare accessibility in its rural areas.
iMeUsWe unveils at-home DNA testing services
iMeUsWe and MapMyGenome's at-home DNA testing to offer health and ancestry insights.
CAR T-CELL THERAPY: A PROMISING CANCER TREATMENT ADVANCEMENT
Employing genetically modified immune cells to attack tumors, CAR T-cell therapy offers new hope for cancer patients.
LEADING WITH INNOVATION
\"Every regional market presents a unique set of challenges and opportunities,\" said Ms Zahabiya Khorakiwala, Managing Director, Wockhardt Hospitals Group, during Healthcare Radius Leadership Vidcast.
OVERCOMING INDIA'S AMR CHALLENGE
India faces a growing threat of antimicrobial resistance (AMR). Experts warn of superbugs and ineffective treatments. Is there hope? Read on to find out.
SOCC launches online second opinion for pediatric care
SOCC’s online second opinion consultations for pediatric care aims to bridge the gap in pediatric healthcare services in India.
Clove Dental opens 12 clinics in a single day
Clove Dental marks its 13th anniversary with nationwide expansion. Get full details.
BM Birla Heart Hospital launches cardiac care program
BM Birla Heart Hospital partners with Dozee for Al-powered cardiac care program.
PD Hinduja Hospital goes digital for infection control
Ropes in Ibhar Technologies for infection control, patient safety, and auditing automation.
Maruti Suzuki marks one year of cardiac care in rural Gujarat
Maruti Suzuki celebrates one year of providing advanced cardiac care in rural Gujarat.