Healthcare has become one of India’s largest sectors - both in terms of revenue and employment. Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players.
Ayurveda is rapidly gaining recognition all over the world. India is the world's 2nd largest exporter of Ayurvedic & alternative medicine. The wellness sector includes segments such as alternative therapies, beauty, fitness and nutrition, among others. Of these, rejuvenation services such as spas, alternative therapies, Ayurveda treatments and beauty services are expected to grow at around 30%, while the fitness sector which includes gyms and slimming centres is expected to grow by more than 25%.
The National Rural Health Mission has a declared policy of promoting ‘Pluralistic Healthcare’ by involving, alongside the allopathic system, the AYUSH systems, including local health traditions in its operational mission.
100% FDI in healthcare sector in India is allowed under the automatic route for green-field projects.
100% FDI in medical devices for investments in brown-field projects is permitted under the government route.
‘NHP Scheme’ – World’s largest government-funded healthcare programme
India plans to create 1 million skilled healthcare providers by 2022
Healthcare and wellness are counted amongst India’s largest sectors both in terms of revenue and employment
India's competitive advantage lies in its large pool of well-trained medical professionals. India is also cost competitive compared to its peers in Asia and Western countries
The industry is expected to reach $ 372 bn by 2022
The hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors. The hospital industry is expected to reach $132 bn by 2023 from $61.8 bn in 2017
The diagnostics industry in India is currently valued at $4 bn. The share of organized sector is almost 25% in this segment (15% in labs and 10% in radiology)
The medical tourism industry in India is expected to double its value to become a $6 bn industry by 2018 from $3 bn in 2017
The Government of India is planning to increase public health spending to 2.5% of the country's GDP by 2025
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