Indian healthcare sector grew at a 15 per cent CAGR to rach US$158.2 billion in 2017. The hospital industry in India stood at Rs 4 trillion (US$ 61.79 billion) in 2017. India is experiencing 22-25 per cent growth in medical tourism in recent years.
The total industry size is expected to touch US$ 372 billion by 2022.
The Indian hospital industry is expected to increase at a Compound Annual Growth Rate (CAGR) of 16-17 per cent to reach Rs 8.6 trillion (US$ 132.84 billion) by 2023.
With increased digital adoption, the Indian healthcare market, which is worth around US$ 100 billion, will likely grow at a CAGR of 23 per cent to US$ 280 billion by 2020. The healthcare market can increase three fold to US$ 372 billion by 2022.
The medical tourism industry is expected to double its size from US$ 3 billion in 2017-2017 to US$ 6 billion by 2017-2018. Medical tourist arrivals in India increased more than 50 per cent to 200,000 from 130,000 in the last one year period.
The Healthcare Information Technology (IT) market is valued at US$ 1 billion currently and is expected to grow 1.5 times by 2020.