New Delhi
India’s healthcare sector has witnessed a significant transformation, fueled by substantial investments in infrastructure development. The Union Health Ministry’s allocation of Rs 90,658.63 crore in the interim Budget for 2024-2025 reflects a 12.59 per cent increase, underscoring the government’s focus on healthcare expenditure.
Marking World Health Day, India commemorates milestones in healthcare, emphasizing infrastructure development, access to quality care, and the implementation of transformative initiatives. Since 2016, the Indian healthcare industry has experienced steady growth, with a remarkable compound annual growth rate (CAGR) of around 22 per cent.
The hospital market in India, valued at USD 98.98 billion in 2023, is projected to reach USD 193.59 billion by 2032, with a CAGR of 8.0 per cent. Additionally, segments like telemedicine and AI applications in healthcare are expected to witness significant growth.
Moreover, the health tech sector anticipates a 15-20 per cent increase in hiring in 2024. PM Modi’s initiatives, such as Ayushman Bharat, aim to revolutionize healthcare accessibility, providing health insurance coverage to vulnerable families and enhancing digital health infrastructure.
With pragmatic policies and strategic investments, India is steadfast in its commitment to ensuring health and wellness for all citizens, reinforcing its position as a leader in global healthcare transformation.
