India has the world’s 2nd largest population, rising from 760 mn in 1985 to an estimated 1.37 bn in 2019, a period during which the proportion of people living in poverty fell by half. This era of growth is marked by “dual illness burden – upswing in communicable diseases and a spurt in non-communicable or “lifestyle” diseases. As a result, it is burdening the growing and ageing population.
With the increasing concerns and introduction of new age technologies, healthcare industry is not just limited to doctor and patient interaction but it has reached real time engagement without any geographical limitation. With advances in technology, people are becoming more aware and smart to lead a healthy life that is resulting in the acceptance and adoption of more efficient and innovative systems. Due to its strengthening coverage, services and increasing expenditure by public as well as private players, the healthcare industry is growing at a brisk pace. Resulting in, becoming one of India’s largest sectors – both in terms of revenue and employment and it is expected to reach $280 bn by 2020.
In such a dynamic scenario, the Healthcare sector and corporate houses are taking greater risks and exploring newer channels to infuse dynamism in their various areas of operations and branding, and embracing entrepreneurship. Needless to say, the new India is witnessing an emergence of critical health parameters including health infrastructure and resources thereby leaving strong imprints on the market. In the process, the entire experience of the consumers gets redefined given the complete paradigm shift in the approach. Some unique initiatives have led to making some brands the leading health brands today who are not just making their presence felt in their countries of origin, but also expanding their operations across India.
However, while these Healthcare brands are well established and are focusing with renewed energy on the brand building exercise, only few can claim to have loyal consumer following with exceptional high level of referral and recall. Certain questions remain to be analysed: What sets these brands apart? What creates a niche identity in the mind of consumers? What enhances the recall value? What are the latest innovations that have left lasting impression on the consumers’ mind?