However, the country still needs to fill its infrastructure gap.
According to Way2Wealth Brokers Pvt, the healthcare industry in India is expected to reach $638B by $400 by 2025 from $400 by 2024. Limited
The company said in its latest analysis that the hospital industry dominated the industry, accounting for 80% of total health care spending. From 2024 to 2032, the market is expected to expand further at a CAGR of 8.0% to an estimated $194B by 2032.
“Hospitals are expected to benefit greatly from rising health care spending, driven primarily by the supply gap in bed capacity demand,” the report reads.
It added: “As the population grows and healthcare demand increases, the shortage of hospital beds will create opportunities for the industry to expand and invest.”
Way2Wealth quoted reports from Knight Frank and Berkadia, which said India had a gap of 2 billion square feet in its healthcare infrastructure of 1.42 billion people. Given the current population coverage rate of 1.3 beds per 1,000 people, the country will need another 2.4 million beds to bridge the gap.
The report said that as of 2024, the health care sector is also one of India's largest employers, providing employment opportunities for 7.5 million people. Demand for healthcare professionals in India is expected to double nationally and globally by 2030, due to the lack of healthcare workers.
