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  • Expectations from the Union Budget 2024 With special reference to the IVF Healthcare industry

    Published on January 17, 2024

    “The healthcare sector in our country has observed encouraging growth last year, emerging as one of the leading nations in Asia Pacific to attract global investment and drive growth. However, beneath this success lies a hidden crisis: a rapidly falling fertility rate and an aging population, similar to other countries struggling with the same demographic trends. According to WHO, around 20 million people in India are suffering from infertility. Specific areas of healthcare such as (Assisted Reproductive Technology) ART still require greater attention as the issue is much more severe than being perceived at the current level. This health problem is escalating rapidly, whereas the public awareness at the grass- roots level is extremely low. While fertility challenges are becoming increasingly common, their treatment cost acts as a formidable barrier due to which many people have to give up their hopes of being parents.

    The increased demand for such treatment underscores the requirement of government-sponsored insurance policies specially designed for infertility and IVF treatments. This would facilitate broader access to treatments at an affordable cost for everyone. Though some private players have come up with an insurance plan recently, but this is just the start of what is required to make fertility treatments more financially accessible to a larger segment of the population.

    Investing in specialised health care for sexual, reproductive and fertility treatment has vast possibilities in promoting India’s image as a global leader in medical tourism for this specialised treatment. By improving the overall infrastructure, the government can attract patients from across the world seeking high-class facilities and recognized fertility specialists. Increased R&D spend, digitalization, and impetus on technology will elevate India’s healthcare sector on the global stage, making it a key player in the international healthcare arena”

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