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India Hospitals and Healthcare Advancements

Overview

India’s healthcare landscape has undergone a transformation, propelled by substantial investments in infrastructure development.  Industry consultants Nexdigm predict that the healthcare industry will reach $612 billion by 2025.  The Government of India (GOI) has allocated a 12.59 percent increase in the FY24 budget, emphasizing the government’s prioritization of healthcare spending, with a focus on infrastructure development, access to quality care, and the implementation of transformative initiatives.

Hospital Market and Advancements

The hospital market in India is currently valued at $99 billion and is expected to grow to $193 billion by 2032.  One of the major trends in the Indian hospital market is the rise of medical tourism attributable to India’s high-quality healthcare facilities and low costs.  Several other segments of the Indian healthcare industry, including telemedicine, AI applications, and the health-tech sector, are poised for substantial growth, indicating a significant shift toward technology-driven solutions.  Hospitals are investing in cutting-edge medical equipment and digital technologies to boost patient care and efficiency.

In 2024, the GOI inaugurated five new All India Institute of Medical Sciences (AIIMS) facilities and unveiled a total of 202 healthcare infrastructure projects across India, encompassing medical colleges, specialty units and research facilities.  India is expanding access to comprehensive healthcare services in rural and underserved areas by opening health and wellness centers across the country.  These centers will provide preventive, promotive, curative and rehabilitative services (all free of cost), encouraging a shift towards preventive healthcare. Healthcare services in rural India are not readily available, with the average rural Indian traveling over 62 miles to receive affordable healthcare at the nearest facility.  Rural Indians will benefit from the increased focus on these advanced healthcare technologies by the Indian government and the private sector as India adjusts to this new service sector in the post-pandemic era.

Opportunities for U.S. Companies

For entry into the Indian market, U.S. companies should identify quality partners who know this market.  Strategic planning, due diligence, and consistent follow-ups are the prerequisites for doing business successfully in India.  U.S. companies may consider the following local trade shows to showcase their technologies and meet Indian companies:

For conducting market research, finding the right local partner, or establishing a local presence, the healthcare team at the U.S. Commercial Service India stands ready to assist you.  U.S. businesses providing technologies and solutions in the sector and interested in India market could reach out to a nearest U.S. office or the Healthcare and MedTech team at the U.S. Commercial Service in India.

 

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