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WASHINGTON: The US Department of Commerce plans to take a 'Medical Trade Mission', comprising top American medical and healthcare industry manufacturers, to India in March 2010, targeting a major chunk of the fast expanding Indian health care market.

The trade mission would travel to New Delhi, Chennai and Mumbai from March 8-13, officials said. During their week-long trip to India, the members of the mission would also participate in the 'Medical Fair India', one of the largest medical trade shows i n India.

Healthcare experts point out that the Indian healthcare market, currently at $35 billion annually, is expected to reach more than $75 billion annually by 2012.

The growth in affluence of more than $300 million middle-income consumers is creating demand for higher standards of healthcare. The changing demographic profile and the rise of lifestyle-related diseases have altered the health seeking behavior of consu mers.

While private insurance covers only 10 per cent of the population, coverage is growing at 40 per cent per year. As a result of all these, the healthcare industry is expected to grow exponentially in the coming years. - PTI

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