IMPORTANCE OF HEALTH ECONOMICS AND ITS GROWTH IN INDIA

Abstract

Importance of economic manifestation of health and disease and the financial limitations restricting the provisions or procurement of adequate health care are well recognized. Awareness about diseases and expenses for the diseases created a new discipline called Health Economics.  As days grow the expenses for curing diseases are more and cannot be manageable by ordinary people.  The concept of health economics Health is an investment and not an expenditure has made changes in India and worldwide to face the diseases boldly.  Healthcare is a growing industry in India and is valued at nearly $40 billion. The private sector accounts for more than 80% of the total healthcare spending, which is mostly out-of-pocket. Increasing population, longer life-expectancy, and decline in infant mortality, more disposable income and therefore, ability to afford private healthcare facilities and Governments emphasis on eradicating diseases have triggered this growth.