Healthcare is India’s largest sector, both in terms of employment and revenue. The country’s healthcare industry is highly diversified and includes hospitals, medical devices, medical equipment, clinical trials, telemedicine, medical tourism, and health insurance. The industry is growing at a tremendous pace owing to its strengthening coverage, services and increased expenditure. The World’s largest Government funded scheme Aayushman Bharat was launched on September 23, 2018, which aims at providing primary healthcare services in the country. The healthcare market in India is expected to reach US$ 193.83 billion by 2020 and US$ 372 billion by 2022.The industry is expected to grow at a CAGR of 22.9% from 2015-2020.
Technology is the best way to achieve the vision of a connected healthcare ecosystem. Medical devices in hospitals/clinics, mobile care applications, wearables, telemedicine, robotic surgeries are all different forms of technology that are transforming this ecosystem.
Here we present our analysis on the Healthcare industry in India.