India Report - The Evolving Indian Healthcare Ecosystem: What It Means for the Real Estate Sector

Sample this: By 2030, India would require 2.9 million additional hospital beds to reach the current global average of 3.2 beds per 1,000 persons. This would translate into 1.3 billion sq. ft. of additional healthcare space requirement by that year.
 
This scale of development would need a significant amount of investment, thereby providing a rainbow of opportunities to the stakeholders involved. India’s popularity among medical tourists, strong demand for private healthcare providers in both rural and urban centres, and the shift from disease cure to prevention and wellness are expected to drive this sector to greater heights in the future.
 
As healthcare systems around the world adapt to the challenges faced in the wake of the COVID-19 pandemic, our healthcare ecosystem is likely to see some permanent changes in priorities and functioning:

• Focus on patient experience through hotelisation of hospital spaces, with hospital buildings being more flexible in terms of design
• Widespread use of telehealth / healthtech
• Increasing insurance penetration
• Shift in focus from sickness to wellness; greater awareness around mental health
• Rise of quality home healthcare services
   

The implications of this evolution for the real estate sector would be manifold. These would range from change in real estate design and strategy to growth in demand for land to set up new facilities, requirement of more warehousing space for storing drugs and vaccines, and increased office space take-up by hospital players to accommodate reconfiguration of their health spaces.
 
All this and more is covered in CBRE India’s first publication on this space – just click download!