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India healthcare industry to hit $14.2 bln by 2012

The Indian health care sector is predicted to touch $14.2 billion by 2012 due to rising income levels, high populations, and change in the illness pattern in the country, consultancy firm KPMG said on Tuesday.

According to KPMG report, the value of domestic health care will rise up to four times by 2017. The main causes behind this situation are raising incomes, and growing incidence of life-style related ailments like diabetes.

In 2006, the value of the domestic market was about $9 billion, said Pradip kanakia, head of markets and health care services.

The report also mentioned, that the domestic health care sector has also seen some considerable changes due to rapid economic growth. It also estimated that private and public spending in Indian health sector would touch $14.2 billion in 2013, at an annual growth rate of  5.8 percent from 2009.

Source – Reuters

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