Healthcare has become one of India’s largest sector, 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. Indian healthcare delivery system is categorized into two major components public and private. The Government, i.e. public healthcare system, comprises limited secondary and tertiary care institutions in key cities and focuses on providing basic healthcare facilities in the form of primary healthcare centers in rural areas. The private sector provides majority of secondary, tertiary, and quaternary care institutions with major concentration in metros and tier I and tier II cities. India is a land full of opportunities for players in the medical devices industry. The country has also become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostic facilities, thus catering to a greater proportion of population. Health care is the maintenance or improvement of health via the prevention, diagnosis, treatment, recovery, or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health professionals and allied health fields. Medicine, dentistry, pharmacy, midwifery, nursing, optometry, audiology, psychology, occupational therapy, physical therapy, athletic training and other health professions are all part of health care. It includes work done in providing primary care, secondary care, and tertiary care, as well as in public health.
The Indian Healthcare market is expected to reach INR 14, 08, 700 Crores by 2020; INR 27, 58, 100 Crores by 2022 at a CAGR of 39%. The digital healthcare market in India was valued at INR 11, 600.61 Crores in 2019 and is estimated to reach INR 48, 500.43 Crores by 2025, expanding at a compound annual growth rate (CAGR) of ~27.41% during the 2020 - 2026 period. The Indian Healthcare industry is a preferred sector for strategic and financial investments. The advent of major private players in the early 2000’s and increasing investments from the Government have transformed the healthcare industry into one of the largest industries in terms of revenue and employment. The increasing incidence of chronic diseases, coupled with the need for better primary and postoperative care, is likely to drive the market growth in the country. Companies are expanding their service offerings to maintain and increase market share
The healthcare industry is one of the world's largest, fastest - growing and most disruptive industries. This industry has gone through the most amount of Changes-We at Future wise equip our clients with the market insight of each and every disruption happening now or forecasted. According to our data and analysis, the healthcare industry is estimated to consume over 10% of gross domestic product (GDP) of most developed nations. Healthcare can form an enormous part of a country's economy.
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