Healthcare has become one of the largest sectors of the Indian economy in terms of both revenue and employment. Growing at a CAGR of 22%, it is expected to reach $372 billion this year.
The preventive healthcare market in India is likely to double in size to $120 billion in the next five years, providing an excellent opportunity for Diagnostic Centers. Present-day Indians are much more aware of their health and wellness than they used to be a couple of years ago.
Factors driving the growth of the Indian healthcare sector are a growing middle class, an aging population, the rising proportion of lifestyle diseases, rising income, better health awareness, and increasing access to insurance. Also, an increased emphasis on public-private partnerships and accelerated adoption of digital technologies, including telemedicine.
Together, all these factors make India’s healthcare industry ripe for investment. In the Diagnostics, the expansion of private players to Tier 2 and Tier 3 locations beyond metropolitan cities offers an attractive investment opportunity.
