Healthcare Industry in India

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
Healthcare Clusters in India

Posters

MORE
OPEN YOUR EYES

OPEN YOUR EYES

With over 2.5 million operations performed and 20 million patients treated in the last 30 years, Aravind Eye Care System is the largest eye care provider in the world.

IBEF Campaigns

MORE
Aatmanirbhar Bharat Utsav 2024

Aatmanirbhar Bharat Utsav 2024

Union Minister of External Affairs, Dr. S. Jaishankar and Union Commerce an...

Bharat Mobility 2024

Bharat Mobility 2024

Bharat Mobility Global Expo 2024 1 – 3 Feb 2024, Bharat Mandapam, ...

Case Studies

MORE

Spiritual Tourism in India: Analysing Economic Impact and Growth Potential

Spiritual Tourism in India: Analysing Economic Impact and Growth Potential

India, the country where millions of travellers come to seek spiritual fulfilment as part of their tourism journey, makes it an integral part of India...

Financial Resurgence: A Comprehensive Exploration of the Recent Boom in Mutual Fund Investments in India

Financial Resurgence: A Comprehensive Exploration of the Recent Boom in Mutual Fund Investments in India

Mutual funds play an indispensable role in capital markets, serving as a gateway for individuals and institutions to access a diverse range of securit...

Transforming India's Logistics Sector: Challenges and Opportunities

Transforming India's Logistics Sector: Challenges and Opportunities

The logistics industry plays a vital role in the dynamic economic landscape of India by enabling the efficient movement of goods and services througho...

IBEF BLOG

MORE
Building a Self-Reliant Defence Industry: Enhancing Indigenous Defence Manufacturing Capability in India
2 Jul 2024

Building a Self-Reliant Defence Industry: Enhancing Indigenous Defence Manufacturing Capability in India

In the era of Amrit-Kaal, India is positioning itself to play a crucial rol...

Clean Energy Revolution: India's Transition Towards Renewable Energy Sources
1 Jul 2024

Clean Energy Revolution: India's Transition Towards Renewable Energy Sources

India has recently announced that it is targeting net zero emissions by 207...

Indian Banking Sector: Navigating Reforms and NPA Challenges
25 Jun 2024

Indian Banking Sector: Navigating Reforms and NPA Challenges

The banking industry affects us in ways that we might not be aware of. By s...

Partners
Loading...