Healthcare Market in India 2022-2027
Description
Healthcare Market in India 2022-2027
Market insights
In terms of revenue, the healthcare market was valued at INR 21.14 Trn in FY 2021. It is estimated to reach INR 110.21 Trn by FY 2027, expanding at a compounding annual growth rate (CAGR) of ~30.70% during the FY 2022 – FY 2027 forecast period.
The market for hospitals, outpatient care services, medical tourism, and diagnostic services witnessed a decline in 2020. However, it started recovering from the second quarter of 2021. The growing prevalence of chronic, lifestyle-related diseases, and inflow of funds from public as well as private investors propelled growth of the market. The exposure to advanced technologies such as telehealth and telemedicine in the healthcare ecosystem also bolstered the growth of the healthcare market. The government aims to increase healthcare spending to 3% of the Gross Domestic Product (GDP) by the end of 2022.
Segment Insights:
The market is segmented into outpatient care centres, hospitals, pharmaceuticals, medical equipment and supplies, diagnostic services, digital healthcare, research and development, medical insurance, and medical tourism. Metropolitan cities such as Delhi, Chennai, Mumbai, and Kolkata are the hubs for hospital infrastructure in the country. At present, healthcare companies are also expanding in tier-II and tier-III cities, such as Indore, Nashik, Jaipur, Mohali, Surat, and Dehradun. The pharmaceuticals segment was the second-largest segment in FY 2021 with a market share of 16.50%. It is estimated to grow to a market share of 19.91% in FY 2027. The digital healthcare segment also demonstrated a notable market share of 13.00% in FY 2021 and is anticipated to increase by 4.44% by FY 2027.
COVID-19 impact analysis:
Healthcare segments such as hospitals, medical tourism, and outpatient care centers were severely affected during the first wave of the pandemic. Meanwhile, digital healthcare, pharmaceuticals, and medical equipment and supplies witnessed remarkable growth during the COVID-19 outbreak. However, in 2021, with the spread of COVID-19 under control to a certain extent, the dispersion in the growth rate of healthcare market segments started reducing. Despite this, the India healthcare industry is anticipated to witness significant growth in the coming few years. In India, the medical insurance market is expected to expand consistently because people are apprehensive about suffering from complicated ailments and bearing the expenditure of the treatment.
Market insights
In terms of revenue, the healthcare market was valued at INR 21.14 Trn in FY 2021. It is estimated to reach INR 110.21 Trn by FY 2027, expanding at a compounding annual growth rate (CAGR) of ~30.70% during the FY 2022 – FY 2027 forecast period.
The market for hospitals, outpatient care services, medical tourism, and diagnostic services witnessed a decline in 2020. However, it started recovering from the second quarter of 2021. The growing prevalence of chronic, lifestyle-related diseases, and inflow of funds from public as well as private investors propelled growth of the market. The exposure to advanced technologies such as telehealth and telemedicine in the healthcare ecosystem also bolstered the growth of the healthcare market. The government aims to increase healthcare spending to 3% of the Gross Domestic Product (GDP) by the end of 2022.
Segment Insights:
The market is segmented into outpatient care centres, hospitals, pharmaceuticals, medical equipment and supplies, diagnostic services, digital healthcare, research and development, medical insurance, and medical tourism. Metropolitan cities such as Delhi, Chennai, Mumbai, and Kolkata are the hubs for hospital infrastructure in the country. At present, healthcare companies are also expanding in tier-II and tier-III cities, such as Indore, Nashik, Jaipur, Mohali, Surat, and Dehradun. The pharmaceuticals segment was the second-largest segment in FY 2021 with a market share of 16.50%. It is estimated to grow to a market share of 19.91% in FY 2027. The digital healthcare segment also demonstrated a notable market share of 13.00% in FY 2021 and is anticipated to increase by 4.44% by FY 2027.
COVID-19 impact analysis:
Healthcare segments such as hospitals, medical tourism, and outpatient care centers were severely affected during the first wave of the pandemic. Meanwhile, digital healthcare, pharmaceuticals, and medical equipment and supplies witnessed remarkable growth during the COVID-19 outbreak. However, in 2021, with the spread of COVID-19 under control to a certain extent, the dispersion in the growth rate of healthcare market segments started reducing. Despite this, the India healthcare industry is anticipated to witness significant growth in the coming few years. In India, the medical insurance market is expected to expand consistently because people are apprehensive about suffering from complicated ailments and bearing the expenditure of the treatment.
Table of Contents
82 Pages
- Chapter 1: Executive summary
- Chapter 2: Socio-economic indicators
- Chapter 3: Introduction
- 3.1. Market definition and structure
- Chapter 4: Market overview
- 4.1. India healthcare market – An overview
- 4.1.1. Market size and growth forecast based on value (FY 2019 – FY 2027e)
- 4.1.2. Major health cities in India
- Chapter 5: Impact of COVID-19
- 5.1. Impact of COVID-19
- 5.2. Government initiatives undertaken to tackle the pandemic-related
- 5.3. Transformation of healthcare in postCOVID-19 era
- Chapter 6: Market segmentation
- 6.1. Healthcare market in India – Segmentation
- 6.1.1. India healthcare market share – Based on type (FY 2021 – FY 2027e)
- 6.1.2. India outpatient care services segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.3. India hospitals segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.4. India pharmaceuticals segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.5. India medical equipment and supplies segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.6. India diagnostic services segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.7. India digital healthcare segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.8. India medical research and development segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.9. India medical insurance segment – Size and growth forecast (FY 2019 – FY 2027e)
- 6.1.10. India medical tourism segment – Size and growth forecast (FY 2019 – FY 2027e)
- Chapter 7: Market influencers
- 7.1. Market drivers
- 7.2. Market challenges
- Chapter 8: Recent government initiatives
- 8.1. Recent government initiatives
- Chapter 9: Market trends
- 9.1. Market trends
- Chapter 10: Competitive landscape
- 10.1. Key players in the market
- 10.1.1. Apollo Hospitals Enterprise Limited
- Company information
- Business description
- Products/Services
- Key people
- Financial snapshot
- Key business segments
- Key geographic segments
- Note: Financial data and segment-wise data is available for public companies only
- 10.1.2. Aster DM Healthcare Limited
- 10.1.3. Cipla Limited
- 10.1.4. Dr. Lal PathLabs Limited
- 10.1.5. Fortis Healthcare Limited
- 10.1.6. Healthcare Global Enterprises Limited
- 10.1.7. Narayana Hrudayalaya Limited
- 10.1.8. Sun Pharmaceuticals Industries Limited
- 10.1.9. Columbia Asia Hospitals Private Limited
- 10.1.10. Max Healthcare Private Limited
- Chapter 11: Investments and funding
- 11.1. Investments and funding
- Chapter 12: Recent developments
- 12.1. Recent developments
- Chapter 13: Appendix
- 13.1. Research methodology
- 13.2. About Netscribes
- 13.3. Disclaimer
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
