Indian Healthcare Industry is Expected to Grow at 16.9% in 2020 to Reach $272.79 Billion in 2020
11-May-2020
Asia Pacific
Market Outlook
PAE2-01-00-00-00
HC03293-AP-MO_24388
The study covers the healthcare market which develops and provides products, solutions, and/or services across the care spectrum for diagnosis, treatment, and prevention.
The biosimilars market in India is expected to cross $0.9 billion by 2020. The growing prevalence of chronic diseases with an increasing aged population in India and globally, coupled with government initiatives for manufacturing under ‘Make in India’ and the global need for lower cost therapies at high quality has led to health investments from the pharmaceutical players, thereby fostering development of the biosimilars market.
With about 14 million patients treated till December 2020, Ayushman Bharat is expected to boost demand for medical devices from empanelled hospitals. Given the perception of hospitals and ensuing impact on medical device and consumables manufacturers, it may be prudent for medical device manufacturers to prioritize alignment with secondary care hospitals, especially in Tier II/III cities and below. Increase in demand for cardiac stents, orthopaedic implants due to increased uptake of secondary specialties from hospitals is also expected.
The $450.1-Mn market for Telehealth in 2020 is likely to grow at a CAGR of 21% till 2026. Government initiatives like the National Health Portal, online registration system, e-Hospital, etc. are expected to increase preference and adoption of e-Healthcare models among masses. This is expected especially in the areas of stress management and behavioural health extending up to the larger spectrum of cardiology, diabetes, and oncology. Startups like Wellthy Therapeutics have gained traction by focusing on the cardiac and diabetes segment.
India’s health and wellness tourism sector will be the highest growing within medical tourism. India offers the unique proposition of AYUSH services that are a major attraction for medical tourists, especially from Europe and other developed countries.
In light of the overloaded and strained clinical pipelines and decreasing returns on investment on Research and Development (R&D), CMOs will need to support pharma companies in introducing innovation by offering improved manufacturing efficiencies and data analytics solutions.
As molecular diagnostics is guiding the treatment pathway for cancer, digital pathology will move beyond conventional histopathology to integrate genomic information. Despite the recent advancements in digital pathology, better quality control guidelines are needed right from sample preparation to whole slide imaging and image analysis.
Also, independent quality assessment guidelines for different software are needed for automated quantification and for making a uniform assessment of image analysis.
Innovation in radiology business models can fuel the growth of diagnostic imaging in India. Public-private partnerships in radiology services and payments made for the services utilised, has seen some success. Most of the developed countries are moving from departmental PACS to VNA / Enterprise PACS. Without the large-scale adoption of this basic infrastructure, it would be difficult to envision implementation of new-age solutions such as AI, enterprise imaging, and precision medicine.
Author: Akshay Zanjurne
Top Predictions for 2020
Research Scope
India Healthcare Industry Size—A Snapshot
Indian Healthcare Industry Size by Segment, 2020E
Prediction 1—The Biosimilars Industry in India is Expected to Cross $0.90 Billion by 2020
Prediction 2—Ayushman Bharat is Expected to Boost Demand for Medical Devices from Empanelled Hospitals
Prediction 3—$450.10 Million of Telehealth in 2020 is Likely to Grow at a CAGR of 21% Till 2026
Prediction 4—India’s Health and Wellness Tourism Sector will be the Highest Growing Sector within Medical Tourism
5 Major Growth Opportunities
Growth Opportunity 1—API Contract Manufacturing
Growth Opportunity 2—Point-of-Care Testing
Growth Opportunity 3—Online Pharmacies
Growth Opportunity 4—Digital Pathology
Growth Opportunity 5—Medical Imaging as a Service
Strategic Imperatives for Success and Growth
Key Conclusions
Legal Disclaimer
Industry Segmentation
Industry Definition—Hospital
Industry Definition—Pharmaceuticals and Biotechnology
Industry Definition—Medical Technologies
Industry Definition—Medical Technologies (continued)
Industry Definition—HIT
List of Exhibits
The Frost & Sullivan Story
Value Proposition—Future of Your Company & Career
Global Perspective
Industry Convergence
360º Research Perspective
Implementation Excellence
Our Blue Ocean Strategy
Speak directly with our analytics experts for tailored recommendations.
Recent related Healthcare research
15 Sep 2026 | Global | Market Research
Vendor Profiles: Advanced Wound Care Management Market, Global, 2025
The wound care market is being transformed by advanced technologies and evolving care models that focus on improving patient outcomes and reducing healthcare costs. Innovations such as smart sensor-embedded dressings, artificial intelligence (AI)-based wound imaging systems, enhanced negative pressu...
11 Sep 2026 | Global | Frost Radar
Frost Radar™: Pharmaceutical Commercialization Solutions and Services, 2026
Pharmaceutical commercialization is a multidimensional concept in the successful launch and distribution of a drug. The process includes the development of a pricing strategy that reflects the drug’s value, negotiation with payers to ensure drug cost coverage, regulatory compliance, and the generati...
07 Sep 2026 | Global | Technology Research
Synthetic Antibodies and AI-Optimized Immunotherapies
Artificial intelligence is becoming increasingly relevant to antibody discovery and immunotherapy development, supporting target identification, de novo antibody design, antibody engineering, clinical intelligence, and bioprocessing. Advances in generative AI, protein language models, diffusion mode...
28 Aug 2026 | Global | Technology Research
Innovations and Growth Opportunities in Advanced Medical Devices, Artificial Intelligence Solutions, Digital Solutions, and Medical Imaging Solutions
The latest issue of Advanced MedTech Technology Opportunity Engine (TOE) spotlights a diverse slate of innovations across advanced medical devices, artificial intelligence solutions, digital solutions, and medical imaging solutions.The issue features advanced medical devices such as active bioelectr...
27 Aug 2026 | Global | Frost Radar
Frost Radar: AI-Powered Molecular Diagnostics, 2026
AI-powered molecular diagnostics is an emerging and moderately fragmented industry that includes molecular diagnostics companies, precision medicine platforms, sequencing specialists, AI-driven analytics providers, and disease-focused biotechnology companies. No single company has dominated, present...
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Market Outlook |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Dr.Akshay Zanjurne |
| Industries | Healthcare |
| WIP Number | PAE2-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9612-B1,99BC-B1,99C6-B1,9A49-B1,9A4B-B1,9614-B1,9627-B1 |
Outlook of India’s Healthcare Industry, 2020
$4,950.00
Special Price $3,712.50 save 25 %