The Healthcare industry is one of India’s rapidly growing and largest sectors contributing approximately 60% of the industry’s total revenue. A wide range of employability and startup innovations associated with the revenue developed to drive the industry. It comprises of hospitals, medical devices, telemedicine, clinical trials, medical equipment, integration of health insurance and  boom of medical tourism.

In the period of the 1950s to 2000s there was a substantial growth in the facilities provided by the healthcare industry. But the rapid multiplication in the enormous growth of population affected the ratio of medical practitioners per number of citizens drastically. However the advancements in the public and private sectors managed to overcome this challenge by the first decade of the 20th century. The facilities provided by the public sector funded by the Government are provided free of cost or at subsidized rates to the citizens. 

Indian healthcare industries also comprises of homeopathy and ayurveda which are rapidly gaining prominence overseas. Due to the progressive nature of our nation, several foreign companies are interested in investing in our country.

2020 marks the beginning of a new decade forecasted to have a multiplied three-fold increase to Rs 6.2 trillion in the healthcare market. The digitalization, emerging diagnostic technologies, tools in telemedicine and artificial intelligence play a major role in paving the way for this estimate. Remote consultations of medical professionals through media facilities and digitalization of records in hospitals for accurate, up to date and detailed information of the patient are being transformed. Developments of sophisticated robotic surgical interventions and world-class implants in deep brain surgeries are gaining significance and attracting investors from foreign countries. India also meets the 15 country-average in the usage of artificial intelligence within the healthcare domain.

Treatment for major surgeries in India costs approximately around 15-20% of that in economically developed countries. Skilled medical professionals, Indian infrastructure and continuous innovations of world-class affordable medical devices and diagnostic equipments have intensified and escalated India’s position as a preferred destination for medical tourism. Affordability, accessibility and superior quality are put forth by the Indian healthcare system attracting medical tourists globally. Indian medical tourism market is alone developing at the rate of 18 percent year on year and is expected to reach $9 Billion by the end of this year.

Health and care delivery will be much advanced in 2030 from what we experience today. The medical workforce, technologies, drugs and devices is expected to have a significant reorganization. The healthcare industry focuses on making the treatments more precise and minimally invasive understanding the mutational aspects of drugs and radiational hazards of imaging on a patient.

However amid COVID-19, there is a steep drop in the number of patients approaching the healthcare centers globally. In India stringent lockdown measures, well-connected health professionals and precautionary surveillances have helped in controlling the outbreak to a large extend. Since India is one among the largest manufacturers of generic drugs and vaccines in the world, a nation is confident about the revival.