|An Overview of Indian Healthcare Industry, 2019|
|Current Scenario and Growth Prospects|
The Government of India (GoI) has promoted a favorable business environment and enhanced the overall ecosystem to position healthcare as one of the largest industries both in terms of revenue and employment. The industry is projected to reach US$ 372 billion by 2022. This growth is a result of the strengthening of healthcare coverage, related services, and increasing expenditure by public as well as private players. Surging disposable income, rising accessibility to better healthcare facilities, pre-eminent awareness of personal health and hygiene, along with overall economic prosperity are contributing to the growth in India’s per capita healthcare expenditure. By 2025, the Government of India plans to increase public health expenditure to 2.5% of the country's GDP. Various policies and initiatives have been implemented for this purpose. Infrastructural improvement has been noteworthy as well.