Friday, 09 June 2023

$774 B revenue opportunity for India from healthcare by 2030: Report

23 February 2022 | News

India is the 5th most preferred destination for medical tourism with post-operative mortality rate better than developed countries

image credit- shutterstock

image credit- shutterstock

Aspire Circle has released a report titled Investing for Impact: Healthcare, Pharma & Healthtech. According to the report, India’s annual investments and revenues in Healthcare, Pharma & HealthTech will both rise 4x between 2020-2030, with investments from $54 to $217 billion and revenues from $194 to $774 billion, creating 12 million cumulative jobs by 2030

Primary & Preventive Healthcare will be the biggest market at $274 billion by 2030 followed by drug and vaccine manufacturing at $120 billion, the latter catalyzed by vaccine manufacturers and over 8 Pharma IPOs in the last 2 years, mobilizing Rs 10K crore.

Spurred by >$5 billionn in Covid-19 testing alone to date, as well as the increased attention to preventive care, diagnostic services will grow to a $60 billion market by 2030.

New tech platforms and business models are to drive health insurance – low health insurance presence (18% of urban population and 14% of rural population)

While E-pharmacy accounts for just 2-3% of total pharmacy sales, more than 45% of new users of e-pharmacy platforms belong to non-metro regions, reveals the report.

The report spells out India’s top ten outstanding investment ideas, being shaped by new-age technologies, innovative business models, delivery platforms and regulatory environment: Preventive and Primary Healthcare; Pharma, Drug & Vaccine Manufacturing; Screening, Diagnostics & Testing; Affordable Healthcare and Operational Efficiency; Medical Tourism; E Healthcare & Telecare; Health Insurance & Innovative Impact Financing; E-Pharmacies; Medical Workforce Education & Skilling; and Gene Therapy.

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