BWI: Frost & Sullivan to Recognize the Industry Once Again at India Healthcare Excellence Awards 2012 Nominations Open Last Date for Entry: 21 June 2012

Press release from Business Wire India
Source: Frost & Sullivan
Friday, May 04, 2012 02:58 PM IST (09:28 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Business services, Healthcare, biotechnology & pharmaceutical; Healthcare
--------------------------------------------------
Frost & Sullivan to Recognize the Industry Once Again at India Healthcare Excellence Awards 2012 Nominations Open Last Date for Entry: 21 June 2012


Mumbai, Maharashtra, India, Friday, May 04, 2012 -- (Business Wire India) -- The size of the Indian healthcare market is abysmally small when compared with similar and dissimilar economies. The per capita spend on healthcare in India is three times lower than China and 150 times lower than the United States of America. Our healthcare model ranks very low on certain parameters, namely health expenditure as percentage of GDP, per capita spending on healthcare, doctor-population and hospital bed-population ratio and infant and maternal mortality ratio. Analysis reveals that the existing system is heavily skewed in favor of the urban population. This has led to a peculiar situation with the majority of health services being centralized in urban areas where only 22-25 percent of the population resides.

The key challenges faced by industry players are, how to increase insurance penetration and introduce insurance products for the lower income group population; how to address or design product or services for the majority of population that resides in rural areas. Moreover, what should be the business models for such products and services that not only are cost effective but also sustainable and scalable?

According to Sandeep Sinha, Director, Healthcare Practice, Frost & Sullivan, "Despite these challenges, the Indian Healthcare industry is in a steady growth trajectory phase and should grow at a CAGR of 10-12 percent over the next five years. What makes this growth unique are the concurrent efforts in development of infrastructure; creation of demand for higher levels of healthcare and rising awareness of end users coupled with the aggressive launch of innovative insurance and reimbursement and financing policies to complete the circle of the end user, payer and provider value chain. The key stakeholders of the industry are responsible for this growth."

The Indian Pharmaceutical Industry today is in the front rank of India's science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. From simple headache pills to sophisticated antibiotics and complex cardiac compounds, almost every type of medicine is now made indigenously. Medical technology industry also has been growing at a healthy pace of 16-18 percent Y-o-Y; a few sectors like cardiology are growing at a very high pace of 35-40 percent. Advancements in medical technologies like minimally invasive surgeries, next generation stents, home health, tele-health services among others propel this growth.

Frost & Sullivan, in its effort and its commitment to recognize the innovative growth strategies and solutions adopted by the best companies in the healthcare industry, after the grand success of India Healthcare Excellence Awards 2011, announces the 'Frost & Sullivan India Healthcare Excellence Awards 2012' scheduled for 21st September, in Mumbai. Over the years, this Award Program has become an industry benchmark. This is due to the recognition it brings to the companies that play an important role in putting the Indian healthcare industry on the global map.

The 21 Award titles that would be recognized at the Frost & Sullivan India Healthcare Excellence Awards 2012 are:

Healthcare IT
-- mHealth Initiative of the Year
-- EMR Company of the Year

Pharmaceuticals
-- Pharmaceutical Company of the Year
-- Fastest growing Indian International Pharmaceutical Company of the Year
-- Fastest Growing Biotechnology Company of the Year
-- Oncology Company of the Year
-- Diabetology Company of the Year
-- Vaccine Company of the Year

Medical Technologies
-- Ophthalmic Implants Company of the Year
-- Imaging Equipment Company of the Year
-- Sleep Solutions Company of the Year
-- In-vitro Diagnostics Company of the Year
-- Sterilization Equipment Company of the Year
-- Cardiology Treatment Company of the Year

Healthcare Delivery Services
-- Dental Care Service Provider Company of the Year
-- Dialysis Service Provider Company of the Year
-- Eye Care Service Provider Company of the Year
-- Diagnostic Service Provider Company of the Year
-- Wellness Service Provider Company of the Year
-- Healthcare Retail Company of the Year

Special Awards
-- Lifetime Achievement Award

Nominations close on 21 June 2012. If you wish to know more about the awards, contact Caroline Lewis/Nimisha Iyer at caroline.lewis@frost.com/niyer@frost.com. To send in your nominations, email indiahcawards@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. On receipt of the above information, our team will get in touch with you with the details.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.



CONTACT DETAILS
Caroline Lewis,Corporate Communications - South Asia, Frost & Sullivan, +91 98217 37935, caroline.lewis@frost.com
Akshata Mhatre,Corporate Communications - South Asia, Frost & Sullivan, +91 (22) 6607 2020, akshatam@frost.com
Nimisha Iyer,Corporate Communications - South Asia, Middle East and North Africa, Frost & Sullivan, +91 98200 50519, niyer@frost.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BUSINESS SERVICES, HEALTHCARE, HEALTHCARE

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com