Make In India

Healthcare Sector Overview

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India’s Healthcare sector, valued at ₹24 trillion in 2023-24, is one of the largest globally. It is driven by rising demand for quality healthcare services, government reforms, and private sector investments.

Why Invest in the Healthcare Sector

  • Growing Market: Projected to reach $132 billion by 2030 at a CAGR of 16%.
  • Policy Support: : Government programs like Ayushman Bharat promote affordable healthcare.
  • Medical Tourism: India is a leading destination due to cost-effective treatments.

Incentives & Schemes

  • Ayushman Bharat: World’s largest health insurance scheme covering over 500 million people.
  • PLI Scheme for Medical Devices: ₹3,420 crore to promote domestic manufacturing.
  • FDI Policy: 100% FDI allowed in hospital and medical device manufacturing.

Highlights

  • Global Ranking: India ranks among the top 10 medical tourism destinations globally.
  • Employment: The sector employs over 4.7 million people directly.
  • Innovation: Rising adoption of telemedicine and AI in diagnostics.

Healthcare Sector Data

Category Details
Market Size (2023-24) 24 trillion
Medical Devices Market $15 billion in 2023
PLI Scheme for Medical Device ₹3,420 crore
Medical Tourism Revenue $9 billion in 2023
Hospitals Over 70,000 private and public hospitals
Healthcare IT Market Expected to reach $1 billion by 2025
FDI in Healthcare $11 billion since 2000
Pharmaceutical Exports $25.4 billion in FY 2023
Employment Over 4.7 million people
Telemedicine Growth Rate CAGR of 20%

Latest Figures and Progress

  • Medical Devices: Market reached $15 billion in 2023.
  • Medical Tourism: Revenue rose to $9 billion, growing at 25% annually.

India’s Healthcare sector offers vast opportunities, driven by policy support, growing domestic demand, and technological advancements.