Indian Healthcare Sector holds enormous potential for growth: Niti Aayog
In a report released by Niti Aayog, a wide range of investment opportunities in different segments of healthcare sector has come to the light. The report states that medical devices, hospitals, telemedicine, health insurance, medical value travel as well as home healthcare are among the segments where promising opportunities of growth lie and that the healthcare sector is expected to reach $ 372 billion in 2022 growing at about 22% CAGR since 2016.
According to Amitabh Kant, CEO, Niti Aayog, “the growth in healthcare sector is driven by several factors such as a growing middle class, ageing population, fast emerging lifestyle diseases, as well as accelerated digital technology adoption.” The COVID-19 pandemic has also presented several opportunities for growth in healthcare sector.”
While the report provides an overview of Indian healthcare sector, it also gives a glimpse into the employment generation capacity in this potential sector. The report also highlights the key growth drivers for the healthcare sector besides the enabling policies mechanism and investment opportunities across various segments such as, pharmaceuticals, Â health insurance, biotechnology and hospitals among others.
Especially the hospital segment offers attractive investment opportunities especially in tier-II and III cities apart from metropolitan cities. According to the report, the pharmaceuticals segment supported by government schemes as part of Aatmanirbhar Bharat has the potential to boost domestic manufacturing in the country. The expansion of pathology and diagnostic centres has high growth potential in the equipment and medical devices segment. As per the report wellness tourism is the other segment which has bright prospects on the back of the country’s inherent strengths alternative systems of medicine. The other potential areas of investment include technological advancements such as Artificial Intelligence, Internet of things, mobile technologies and wearables.
