Healthcare
Indian healthcare sector is growing at a 15 per cent CAGR to reach US$ 158.2 billion by 2017.

Indian Healthcare Industry Analysis

Latest update: August, 2018

  • Healthcare has become one of India's largest sectors both in terms of revenue and employment.
  • During 2008-22, the market is expected to record a CAGR of 16.28 per cent.
  • The total industry size is expected to touch US$ 160 billion by 2017 and US$ 372 billion by 2022.
  • Indian companies are entering into merger and acquisitions with domestic and foreign companies to drive growth and gain new markets.
  • The hospital industry in India stood at Rs 4 trillion (US$ 61.79 billion) in 2017 and is expected to increase at a Compound Annual Growth Rate (CAGR) of 16-17 per cent to reach Rs 8.6 trillion (US$ 132.84 billion) by 2023.
Growth

Notes: F - Forecast, CAGR - Compounded Annual Growth Rate
Source: Frost and Sullivan, LSI Financial Services, Deloitte, Aranca Research

Last Updated: August, 2018

The Indian healthcare sector is expected to reach Rs 8.6 trillion (US$ 133.44 billion) by 2022. 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 August 2018, number of primary health centres (PHCs) increased to 32,789 and number of sub centres reached to 167,788.

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, NarayanaHrudayalaya) 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. 

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.

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 reach 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 MantriSurakshitMatritvaAbhiyan (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. In March 2018, Union Cabinet approved budget support of Rs 85,271 crore (US$ 13.16 billion) for the period of April 2017- March 2020 under the National Health Mission to encourage medical infrastructure in India. In August 2018, the Ministry of Health and Family Welfare set up National Resource Centre for EHR Standards (NRCeS) to facilitate adaptation of notified EHR standards, at an estimated cost of Rs 23.59 crore (US$ 3.52 million).

Indian Healthcare Industry Report (August, 2018)

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Indian Healthcare Industry Report (July, 2018)

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