Indian Healthcare Industry Analysis

The Indian hospital industry accounting for 80% of the total healthcare market is expected to touch US$ 132 billion by 2023.

Advantage India

Strong
Demand

* Healthcare market in India is expected to reach US$ 372 billion by 2022, driven by rising income, better health awareness, lifestyle diseases and increasing access to insurance.

* As of 2021, the Indian healthcare sector is one of India’s largest employers, as it employs a total of 4.7 million people.

Strong Demand

Attractive
Opportunities

* In the Economic Survey of 2023, India’s public expenditure on healthcare stood at 2.1% of GDP in 2021-22 against 1.8% in 2020-21.

* 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 Union Budget 2023-24, the government allocated Rs. 89,155 crore (US$ 10.76 billion) to the Ministry of Health and Family Welfare (MoHFW).

* The Indian government is planning to introduce a credit incentive programme worth Rs. 500 billion (US$ 6.8 billion) to boost the country’s healthcare infrastructure.

Policy and Government Support
Last updated: Dec, 2022

Major Healthcare Centers in India

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