The Indian healthcare sector is expected to increase from US$ 110 billion in 2016 to US$ 372 billion in 2022. Rising income level, greater health awareness, increased precedence of lifestyle diseases and improved access to insurance would be the key contributors to growth. 58,000 job opportunities are expected to be generated in the healthcare sector by the year 2025. The hospital industry in India stood at Rs 4 trillion (US$ 61.79 billion) in 2017 and is expected to reach Rs 8.6 trillion (US$ 132.84 billion) by 2023.
The private sector has emerged as a vibrant force in India's healthcare industry, lending it both national and international repute. It accounts for almost 74 per cent of the country’s total healthcare expenditure. Telemedicine is a fast-emerging trend in India; major hospitals (Apollo, AIIMS, Narayana Hrudayalaya) have adopted telemedicine services and entered into a number of public-private partnerships (PPP). Further, presence of world-class hospitals and skilled medical professionals has strengthened India’s position as a preferred destination for medical tourism.
Under the Union Budget 2018-19, the allocation to the Ministry of Health and Family Welfare has increased by 11.5 per cent year-on-year to Rs 52,800 crore (US$ 8.16 billion). In December 2017, the Government of India provided grant-in-aid under the National AYUSH Mission (NAM), to set up AYUSH educational institutions in States and Union Territories where such institutions are not available in the government sector. In February 2018, the Ministry of Health and Family Welfare, Government of India has launched the National Deworming initiative for the benefit of over 322 million children as a part of its commitment to ensure high quality healthcare to every child in the country.
The Government of India aims to develop India as a global healthcare hub. It has created the Intensified Mission Indradhanush (IMI) for improving coverage of immunisation in the country and reaching every child under two years of age and all the pregnant women who have not been part of the routine immunisation programme. As of January 2018, Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA), a programme launched in 2016 to ensure comprehensive and quality antenatal check-ups to pregnant women across India, has crossed the 10 million mark.
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