The Indian health sector is in the pink of health with its valuation expected to reach more than $372 billion mark by 2022. It will create around 40 million jobs, promote health awareness, and also increase precedence of lifestyle diseases.

According to a 2017 report, Indian health sector was the fourth largest employer in the world with 319,780 employees. This industry is growing faster than we can imagine. The credit goes to its strengthening coverage, services, and expenditures by both public and private players.

We take a look into some of the factors that are the key contributors of such a tremendous growth in this sector.

Indian hospital industry to grow exponentially

Indian hospital industry is witnessing a surge of sorts with its valuation to reach $132 billion mark by 2023. It stood $61.8 billion in 2017.

Boost in medical tourism

The total valuation of Indian medical tourism stood at $6 billion in 2018. It was a 50% hike from the year 2016. It is likely to grow even more in the future.

Growing awareness for self-treatment and preventive care

There is a surge in programs dedicated to make people more aware about things they can do at home to avoid common illnesses such as obesity, women’s health, pregnancy, and post-surgery care among others. In fact, many startups have come up with innovative business models and ideas to spread awareness in this area among people and yet help our economy prosper.

Machines and Technology

Several technology firms in India are developing portable light-weight machines to measure ECG, blood pressure, temperature of the patient, heart-rate, auscultation, and oxygen saturation. These machines will help share patients data to doctors in any part of the world.

They all can perform quick diagnostics with little or no medical training and work even in low-bandwidth locations.

Startups spreading awareness for transparency in the treatment

A lot of startups in India are now working on to creating transparency in the treatment of patients. These startups are helping patients to understand all stages of a treatment procedure starting from the first consultation. In fact, they are all also helping people to find right doctors, book appointments, request cost estimates, and manage admissions/discharge processes.

With all these growing opportunities, Indian healthcare sector is likely to undergo a positive change. More than $ 200 billion are to be invested till 2022 to improve infrastructure of Indian health sector.

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