The Indian healthcare sector is expected to reach US$ 280 billion by 2020. Rising income level, greater health awareness, increased precedence of lifestyle diseases and improved access to insurance would be the key contributors to growth. The sector is expected to generate 40 million jobs in India by 2030. 100,000 jobs are expected to be created from Ayushman Bharat, the National Health Protection Scheme. As of June 12, 2019, number of sub centres reached 168,418 and number of Primary Health Centres (PHCs) increased to 33,476.
The hospital industry in India stood at Rs 4 trillion (US$ 61.79 billion) in FY17 and is expected to reach Rs 8.6 trillion (US$ 132.84 billion) by FY22.
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, and 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.
The Government of India approved the continuation of National Health Mission with a budget of Rs 31,745 crore (US$ 4.40 billion) under the Union Budget 2019-20. The Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (PMJAY), the largest government funded healthcare program targeting more than 500 million beneficiaries, was allocated Rs 6,400 core (US$ 887.04 million), under the Union Budget 2019-20.