Healthcare is one of the most crucial and regulated industries in India. The industry is expected to grow manifold in the coming years and presents a great opportunity for digital marketers. In this blog post, we will take a look at the healthcare industry in India, its current state, its growth prospects, and the digital marketing opportunities it presents.
The Indian Healthcare Industry
India’s healthcare sector is currently valued at around US$ 100 billion and is expected to grow to US$ 372 billion by 2022. The sector is further expected to grow to US$ 520 billion by 2025. The hospital industry accounts for 80% of the total healthcare market in India and is expected to reach US$ 132 billion by 2023.
Healthcare services in India are currently delivered through a mix of public and private hospitals. However, the share of private hospitals is expected to increase in the coming years as the government continues to privatize the healthcare sector. Currently, there are around 22,000 registered private hospitals in India with a bed capacity of 5 lakhs. In comparison, there are around 25,000 government hospitals with a bed capacity of 10 lakhs.
The Indian healthcare sector has been growing at a rapid pace due to rising income levels, better health awareness, and an increase in lifestyle diseases. The growth of the insurance sector has also played a vital role in boosting the growth of the healthcare industry. As per estimates, the insurance sector is expected to grow at a CAGR of 15-20% over the next 5 years. This growth is further expected to boost the demand for quality healthcare services in the country.
Digital Marketing in Healthcare
Digital marketing can be defined as the process of creating awareness about a brand or product using digital channels such as search engines, social media, email, and websites. It is an important tool for companies operating in various industries including healthcare.
With digitization playing an increasingly important role in all aspects of life, it is no surprise that patients are now using various online channels to research their medical options before making a decision. In fact, according to a study by Google, 76% of patients research their medical conditions online before making an appointment with a doctor. This highlights the importance of having an effective digital marketing strategy for healthcare companies operating in India.
Healthcare companies can use digital marketing channels such as search engine marketing (SEM), social media marketing (SMM), and email marketing to create awareness about their brands and attract new patients. Additionally, they can also use website optimization techniques such as search engine optimization (SEO) to improve their website’s visibility on search engine results pages (SERPs).
Conclusion:
The Indian healthcare industry presents a great opportunity for digital marketers due to its high growth potential. Healthcare companies can use various digital marketing channels such as SEM, SMM, email marketing, and SEO to create awareness about their brands and attract new patients. With digitization playing an increasingly important role in all aspects of life, healthcare companies must have an effective digital marketing strategy in place if they want to stay ahead of their competitors.
