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The Healthcare industry in India comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment. The industry is growing at a tremendous pace owing to its strengthening coverage, services, and increasing expenditure by public as well as private players.
Growing incidence of lifestyle diseases, rising demand for affordable healthcare delivery systems due to the increasing healthcare costs, technological advancements, the emergence of telemedicine, rapid health insurance penetration, and government initiatives like e-health together with tax benefits and incentives are driving the healthcare market in India.
The Indian Healthcare market is expected to reach $190 bn by 2020; $372 bn by 2022 at a CAGR of 39%
The digital healthcare market in India was valued at INR 116.61 bn in 2018 and is estimated to reach INR 485.43 bn by 2024, expanding at a compound annual growth rate (CAGR) of ~27.41% during the 2019-2024 period.
By 2022, the diagnostics market is expected to grow at a CAGR of 20.4% to reach $32 bn from $5 bn in 2012
Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS)
The LGSCAS proposes a guarantee coverage for the funding provided by Scheduled Commercial Banks to eligible projects in the healthcare sector for setting up or modernizing/expanding healthcare facilities.
The scheme shall provide guarantee cover to both brownfield projects and greenfield projects, subject to a maximum loan of INR100 crore per project. The guarantee cover provided would be 50% (75% in case of projects coming up in aspirational districts) in case of brownfield projects and 75% in case of greenfield projects.
Click here to access List of Scheduled Commercial Banks providing funding support
Maximum loan per project shall be limited to INR 100 crore (both fund-based and non-fund based included)
Applicable to all eligible loans sanctioned during the period from 07 May 2021 till 31 March 2022, or till guarantees for an amount of INR 50,000 crore are issued under the scheme, whichever is earlier
Capped at 7.95 % p.a. till the availability of the guarantee cover
(i) Hospitals, dispensaries, clinics, medical colleges, pathology labs, diagnostic centres;
(ii) Facilities for manufacturing of vaccines, oxygen, ventilators, priority medical devices
(iii) Public healthcare facilities
Total loan requirement upto INR100 crore (including fund based and non-fund based facility)
Project coming up in a non-metropolitan area
Loan being provided out of COVID Loan Book of the SCBs
Project pertains to the healthcare sector for setting up of or modernisation/expansion of