CHENNAI: India needs an additional 2.4 million (24 lakh) hospital beds to reach the recommended ratio of 3 beds per 1,000 people, fuelling the demand for healthcare-related real estate space, according to Knight Frank.
Currently, India has an estimated 70,000 hospitals, of which 63% are from the private sector, global real estate consultant Knight Frank and US-based Berkadia said in their report released on Thursday.
“India is facing a deficit of 2 billion square feet of healthcare space to cater to its current population base of 1.42 billion people,” Knight Frank India said in a statement. India has a considerable gap between the number of hospital beds available in the country and the number of hospital beds required.
“India’s existing bed-to-population ratio is 1.3/1000 population (both private and public hospitals included), and there is a deficit of 1.7/1000 population. To cater to the existing population, there is an additional requirement of 2.4 million beds,” the consultant said. This disparity provides an opportunity for public and private players, to expand their footprint in the healthcare industry in India. “The challenge of India’s population-to-bed ratio, coupled with increasing population, underscores the pressing need for significant enhancement in the country’s healthcare infrastructure,” Shishir Baijal, chairman and managing director of Knight Frank India, said.