Growth of Healthcare Industry in India - Infographic

The Indian health-tech market is expected to grow at a CAGR of 39% and touch US$ 50 billion by 2033.

Advantage India

Strong
Demand

* The Indian healthcare market, which was valued at US$ 110 billion in 2016 is now projected to reach US$ 638 billion by 2025.

* The healthcare sector, as of 2024, is one of India’s largest employers, employing a total of 7.5 million people.

* A recent research report predicts that the integration of Artificial Intelligence (AI) within the Indian healthcare sector will create nearly 3 million new jobs by 2028.

Strong Demand

Attractive
Opportunities

* India’s public expenditure on healthcare touched 2.1 % of GDP in FY23 and 2.2% in FY22, against 1.6% in FY21, as per the Economic Survey 2022-23.

* Two vaccines (Bharat Biotech's Covaxin and Oxford-AstraZeneca’s Covishield manufactured by SII) were instrumental in medically safeguarding the Indian population against COVID-19.

Attractive Opportunities

Rising
Manpower

* Availability of a large pool of well-trained medical professionals in the country.

* The number of allopathic doctors with recognised medical qualifications (under the I.M.C Act) registered with state medical councils/national medical council increased to 1.3 million in November 2021, from 0.83 million in 2010.

Rising Manpower

Policy and
government support

* In the Interim Union Budget 2024-25, the government allocated Rs. 90,659 crore (US$ 10.93 billion) to the Ministry of Health and Family Welfare (MoHFW).

* The Indian government is planning to introduce a credit incentive programme worth Rs. 50,000 crore (US$ 6.8 billion) to boost the country’s healthcare infrastructure.

Policy and Government Support
Last updated: May, 2024

Major Healthcare Centers in India

  • Delhi
  • Mumbai
  • Hyderabad
  • Kolkata
  • Chennai
  • Bengaluru
  • Ahmedabad
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