Healthcare to India

India’s healthcare sector is growing fast. Driving demand are:

  • rising income
  • increased health awareness
  • easy access to insurance

India’s government has also launched Ayushman Bharat. It is the world’s largest state-funded universal healthcare program. It has an annual budget of A$690 billion. This will create opportunities for Australian companies to provide:

  • medtech
  • expertise
  • research and development (R&D) partnerships
  • training and skills development

Opportunities

Digital health exports 

Demand for medical services exceeds supply in India. There is a need for more efficiency. This is driving digitalisation. India’s clinics and hospitals currently rely on imported technology.

Opportunities for Australian companies include:

  • introducing digital health technology, products and services. Prospects look good for:
    • portable devices
    • 3D printing services
    • remote patient monitoring
    • telemedicine
  • helping medical services introduce electronic health record systems
  • fulfilling skills-training needs. This includes certificate courses for:
    • aged-care centres
    • hospital management
    • trauma and emergency units
    • infection control
    • paramedic services
  • co-developing medtech solutions
  • partnering health service providers with digital health solutions fitting in their supply chain.

Clinical trials

Current government regulations limit local bio-pharmaceutical companies doing clinical trials. India’s bio-pharmaceutical sector is looking overseas for opportunities to conduct these trials.

Opportunities for Australian businesses include:

  • partnering with major Indian pharmaceutical companies to enable them to conduct clinical trials to global standards
  • encouraging Indian pharmaceutical companies to set up in Australia to:
    • improve their drug delivery techniques
    • create new platform technologies
    • enhance their research

Research and development partnerships

Indian pharmaceutical companies are seeking partnerships with Australian institutions for R&D collaboration. Opportunities include:

  • partnering with major pharmaceutical and medtech companies in India to develop and adopt new technologies
  • partnering with medtech companies to develop new therapies, drugs and vaccines 
  • doing joint research and development to address specific groups of diseases. These include tropical and lifestyle-related diseases.

Challenges

Regulation in India's health sector is complex. The market for pharmaceutical and health products is price-sensitive. The way suppliers operate in the health sector is culturally different to Australia. Challenges include:

  • a relatively small market for expensive equipment. This is slowly changing as more private health companies enter the market
  • intellectual property protection is often weak and ineffective, especially patent protection. This discourages joint ventures
  • the legal framework needed to underpin digital health records is incomplete. This limits digitisation of patient data and the introduction of cloud-based services.

Success stories

India’s market is changing and expanding fast. More Australian companies are launching initiatives in India than in past decades. Read their stories:

Please note: This list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only. The content is for information and carries no warranty; as such, the addressee must exercise their own discretion in its use. Australia’s anti-bribery laws apply overseas and Austrade will not provide business related services to any party who breaches the law and will report credible evidence of any breach. For further information, please see foreign bribery information and awareness pack.

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The Australian Trade and Investment Commission – Austrade – contributes to Australia's economic prosperity by helping Australian businesses, education institutions, tourism operators, governments and citizens as they:

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Success stories

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