Swedish MNC Medicover Sees India's Healthcare Potential

Sweden's headquartered multinational hospital chain Medicover plans to double its Indian footprint and expects the size of the country's healthcare market to grow triple times in a decade. 

With a bouquet of 24 hospitals in India, Medicover has indicated that over the next five years, it intends to double the number. 

A specialized provider of diagnostics and healthcare services, the organization operates via two divisions-Diagnostic services and Healthcare services. In its healthcare network, it has a total of 32 hospitals and 129 medical centres. The group's largest markets are India, Poland, and Romania. 

"We believe the healthcare markets in India will triple in size by the next 10 years, from USD 150 billion to over 450 billion. It will grow through multiple sectors. This is a function of the growth of the GDP plus the higher penetration of healthcare spending as a share in a wallet. This will drive significant growth over the next 10 years," as stated by Fredrik Stenmo, Chairman of the group.

As per the review of India's Department of Pharmaceuticals, Foreign Direct Investment (FDI) inflows in the pharmaceutical sector (in both pharmaceuticals and medical devices) in India was Rs 12,097 crore in the financial year 2021-22. 

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