New Delhi, Nov 6
India's healthcare delivery sector is expected to reach $250 billion by 2029, according to a report.
The report by Praxis Global Alliance showed that the sector is currently valued at approximately $135 billion, and is projected to grow at a CAGR of 18 per cent.
"This growth is driven by rising health awareness, government policies, medical tourism, and expanding insurance coverage, which all contribute to improved access to healthcare services across the country," noted the report.
The report provides critical insights into India's evolving healthcare landscape, underscoring market growth, technology integration, and strategic imperatives necessary to transform healthcare delivery in India.
"The healthcare sector in India is at an inflection point where technology can play a pivotal role in addressing existing disparities and improving outcomes," said Aryaman Tandon, Managing Partner, Healthcare at Praxis Global Alliance.
"Our report serves as a blueprint for stakeholders across the healthcare ecosystem to leverage innovation for inclusive growth and better healthcare accessibility," he added.
Further, the report highlights the need for preventive healthcare, digital health solutions, and tailored interventions even as non-communicable diseases (NCDs), including cardiovascular and respiratory diseases, account for over 55 per cent of deaths in India and are projected to reach 74 per cent by CY2030.
It notes how significant disparities exist, especially in rural areas where only 24 per cent of hospital beds and 48 per cent of healthcare facilities are available, despite rural areas housing 64 per cent of India's population.
This inequity calls for expanded healthcare access and innovative service delivery models in underserved regions.
The report also stresses that challenges in technology adoption, such as high costs and data privacy concerns, remain significant.
This report aims to guide policymakers, healthcare providers, and private sector players toward a robust, technology-enabled healthcare future for India, ensuring equitable access, enhanced patient outcomes, and sustainable growth.