Working towards building a Healthier India
The Healthcare industry in India comprises of 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 hospital industry in India was valued at $ 61.79 Bn in FY17 & is expected to reach $ 132 Bn by 2023, growing at a CAGR of 16%-17%.
- The Telemedicine market is the maximum potential eHealth segment in India, which is expected to touch $5.4 Bn by 2025, growing at a compound annual growth rate (CAGR) of 31%
- Over the next 10 years, National Digital Health Blueprint can unlock the incremental economic value of over $200 Bn for the healthcare industry in India.
- India has the world’s largest Health Insurance Scheme (Ayushman Bharat) supported by the government.
- India’s comprehensive investment in Medical Education: INR 17,691.08 Cr invested in 157 new approved Medical Colleges since 2014.
100% FDI is allowed under the automatic route for greenfield projects.
For further details, please refer FDI Policy
eSanjeevani telemedicine consultations
Increase in the total investments in healthtech startups.
Share in hospital beds (Pvt.)
Functional Ayushman Bharat Health & Wellness Centres
Explore Related Sub Sectors
‘Ayushman Bharat - NHP Scheme’ - World's largest government-funded healthcare programme
The National Tele Mental Health Programme of India: Over 100,000 calls received on the Tele-MANAS Helpline till March'23
Healthcare has become one of India's largest sectors both in terms of revenue and employment
- Industry Scenario
- FOREIGN INVESTMENT
- INDUSTRY TRENDS
- POLICIES & SCHEMES
Current market size of Indian Medtech industry is estimated to be $ 11 bn with a CAGR of 15% over last 3 years with potential to reach $ 50 bn by 2030
Healthcare industry in India comprises of hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment. The healthcare sector is growing at a tremendous pace owing to its strengthening coverage, services, and increasing expenditure by public as well private players.
- The hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors. The hospital industry is expected to reach $132 Bn by 2023 from $61.8 Bn in 2017, growing at a CAGR of 16-17%.
- In 2020, India’s Medical Tourism market was estimated to be worth $5-6 Bn and is expected to grow to $13 Bn by 2026.
- The diagnostics industry in India is currently valued at $4 Bn. The share of the organized sector is almost 25% in this segment (15% in labs and 10% in radiology).
- 1,56,000 Ayushman Bharat centers, which aim at providing primary health care services to communities closer to their homes, are operational in India.
- More than 390 Mn ABHA numbers generated under the Ayushman Bharat Digital Mission
India is a preferred destination for Medical Value Travel (MVT) where patients from all over the globe come to "Heal in India" and is growing as huge opportunity area in the Healthcare market. For further details click here
Robotic process automation (RPA)
RPA to improve the efficiency of the healthcare workforce; reducing costs and creating the value proposition
Shifting Disease Burden
Non-Communicable Diseases (NCDs) account for 50% of the disease burden and 60% of all deaths in India
Policy Support & Incentives
100% FDI allowed in Greenfield & Brownfield projects, measures to correct unfavourable duty structure are being undertaken, single window clearance e-portal to improve EoDB
Atmanirbhar Bharat Abhiyaan - Self Reliant India
A special economic and comprehensive package of INR 20 lakh Cr towards promoting manufacturing in India.
20% Indians covered; expected to rise with rising incomes, urbanization
Emergence of telemedicine
Along with these, the emergence of telemedicine, and government initiatives like e-health married with tax benefits and incentives are driving the healthcare market in India.
Over $200 Bn to be spent on medical infrastructure by 2024.
Industrial Land Bank Portal
GIS - based map displaying available infrastructure for setting up business operations in the state.
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Invest India closely works with
Government Ministry/ Department
- Association of Diagnostics Manufacturers of India (ADMI)
- Association of Indian Medical Device Industry (AIMED)
- Confederation of Indian Industry (CII)
- Federation of Indian Chambers of Commerce & Industry
- Indian Medical Association (IMA)
- Medical Technology Association of India (MTaI)
- The Associated Chambers of Commerce and Industry of India
New India Timeline @2047
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