Healthcare and pharmaceutical industry stimulating demand for hiring talent

Healthcare and pharmaceutical industry stimulating demand for hiring talent

TimesJobs.com Bureau

Where global market slowdown has affected the major employment generators such as IT/Telecom, BFSi and ITeS, Healthcare/Pharmaceutical sector reported enhanced hiring activity during the first half of 2012, reveals TimesJobs.com Bi-annual RecruiteX.

"The Indian Healthcare sector is expected to reach US$ 100 billion by 2015 from the current US$ 65 billion, growing at around 20 % a year, according to rating agency Fitch," said Harshvendra Soin Chief People Officer Fortis Healthcare Limited, in the latest TimesJobs.com RecruiteX Bi-annual report.

A report by All India Management Association, Boston Consulting Group and the Confederation of Indian Industries (CII) stated that Healthcare industry is expected to generate over 40 million new jobs by 2020. It is projected that the Healthcare/Pharmaceutical industry will not just hire for core and specialized functions but will be seeking talent for support functions and general management profiles as well, revealed the TimesJobs.com Bi-annual RecruiteX report.

"Continuing on the growth trajectory, the Healthcare sector is expected to remain one of the leading employment providers in the country. The industry will hire professionals not only from healthcare but from other industries as well and for diversified functions," confirms Soin.

According to the Investment Commission of India, the Healthcare industry in India has experienced remarkable annual growth of 12% during the last 4 years. This is driven by a number of factors such as increase in the average life expectancy and average income levels, and rising awareness for health insuranceamong the population.

RecruiteX reported that governmental support, demographic and economic factors are the other major factors fuelling the growth of Healthcare/Pharmaceutical sector in India. The progressive nature of this industry in India is attracting huge investments from international players as well.

"Owing to post budget policies and sanction of new manpower plan for the new financial year, the acquisition trend in the industry is expected to pick up. Medical tourism and health insurance are also on a rise, with significant growth in healthcare sector and establishment of a large number of hospitals, both public and private," explained Harshvendra. All this is helping India emerge as a hub for medical tourism and facilities on the world map.