India’s healthcare industry likely to reach $372 billion in 2022: NITI Aayog report


India’s healthcare industry has been growing at a Compound Annual Growth Rate of around 22% since 2016 and is expected to reach $372 billion in 2022 if grows at this rate, a report from NITI Aayog said.

“Several factors are driving the growth of the Indian healthcare sector, including an aging population, a growing middle class, the rising proportion of lifestyle diseases, an increased emphasis on public-private partnerships as well as accelerated adoption of digital technologies,” wrote NITI Aayog CEO Amitabh Kant in the foreword.

“The Covid-19 pandemic has not only presented challenges but also several opportunities for India to grow. All these factors, together make India’s healthcare industry ripe for investment.”

The report outlines the range of investment opportunities in various segments of India’s healthcare sector, including hospitals, medical devices and equipment, health insurance, telemedicine, home healthcare and medical value travel.