India, the birthplace of yoga, has an increasing growing population that needs more comprehensive healthcare. This presents many challenges, of course, as well as opportunities for companies seeking to provide more, and better medical services to India’s underserved healthcare clients. This means job openings for healthcare language services and healthcare enterprises in India, as well as foreign providers (drugs, healthcare technology, IT services, medical devices) looking to translate healthcare growth in India into worthwhile business partnerships that can help the private and public sectors alike.
Inside India’s Expanding Healthcare Market
India’s population growth, with more than 1.3 billion souls (second only to China), shows no sign of appreciably slowing down anytime soon. Absent a European-style national healthcare service, the health insurance markets and general healthcare infrastructure have ample room to mature as the overall healthcare landscape evolves.
The need in India for hundreds of thousand, if not millions of new qualified doctors and nurses means a likely increase in the procurement of medical devices and health-related services — if the doctor/patient ratio can be increased. This makes the relationships between the private healthcare sector, healthcare translation services (India has 22 official languages) and the government extremely important when it comes to providing India’s vast population with life-saving medical services and technology.
With less than 20% of the population covered by health insurance now, medical translation companies, along with the medical industry and governmental agencies, have a huge role to play in India’s healthcare development. A ton of ground needs to be covered still, but India is a resourceful country, and over time these healthcare challenges can be met.
How India Handles Healthcare Language Services and Needs
India needs to add beds in hospitals (and build more hospitals), invest in better infrastructure, refine patient/doctor interactions (Purple Health is a good start), improve cancer diagnoses (like diving into IBM’s Watson for Oncology), and more. The country already excels at obtaining FDA Abbreviated New Drug Applications (ANDA), as well as manufacturing and selling low-cost generic drugs at home, in North America and abroad (a market valued at more than 30 billion dollars per year … and rising).
Healthcare language services that know how to translate medical terminology quickly and professionally can help keep healthcare innovation and progress in India chugging along. And with so much ground to cover, and so many people depending on success, medical translation companies need to keep pace with the changes that come along with the juggernaut that is modern healthcare in India.
The UN predicts India will overtake China as the planet’s most populous nation around 2022. And although healthcare spending isn’t particularly high (4.7% of GDP), that’s set to increase. The World Healthcare Organization (WHO) ranks India’s healthcare sector 112 out of 190 nations. That’s not the best of news, but it does mean plenty of opportunity for healthcare language services like GlobalVision to work with medical device and healthcare solution providers to deliver better across-the-board healthcare in India, thus building a more robust infrastructure — and future — for everyone invested in India’s rapidly growing healthcare sector. After all, the benefits of yoga can only go so far!
This whitepaper presents you with straight forward metrics that will help you determine the budget and schedules needed for Financial translation projects. Don’t request a bid without reading it first! Get it now for free!!