INDIA – According to a recent Aspire Circle report, India has the potential to generate US$774 billion in revenue from healthcare by 2030.
According to the report’s findings, the country can create 12 million jobs in healthcare and allied sectors with a US$217 billion investment, affecting 1.5 billion lives by 2030.
Aspire Circle, an impact leadership advocate firm, published a collaborative report titled ‘Investing for Impact.
The report also spells out India’s top ten outstanding investment ideas, being shaped by new-age technologies, innovative business models, delivery platforms and regulatory environment.
The other areas are preventive and primary healthcare, pharma, drug, and vaccine manufacturing; screening, diagnostics, and testing, affordable healthcare and operational efficiency.
Others among the list include medical tourism, e-healthcare and telecare, health insurance and innovative impact financing, e-pharmacies, medical workforce education and skilling, and gene therapy.
“Indian healthcare will become the second most attractive investment sector this decade, behind food, agri and agriTech but ahead of BFSI, financial inclusion & fintech,” said Amit Bhatia, Founder of Aspire Circle & Creator – Impact Future Project, in a statement.
“Covid-19 has thrown open India’s health infrastructure fault-lines and both entrepreneurs and investors are on an epic mission to convert the crisis into an investment opportunity,” he added.
“The top 10 ideas in our research can lead annual investment growth from US$52 billion to US$179 billion between 2020 and 2030 and grow related revenues from US$183 billion to US$610 billion.
“These top 10 ideas will serve and impact 1.5 billion Indians, create 12 million cumulative jobs and grow the overall sector to a colossal US$774 billion by 2030 – an incredible promise worth nurturing,” he said.
COVID-19 has elevated healthcare and related sectors to the top of the priority list of governments, policymakers and industry in an unprecedented manner, with central government’s healthcare expenditure increasing from 1.3 per cent of GDP in 2019-20 to 2.1 per cent of GDP in 2021-22.
The research has been put together with the help of 21 co-authors and six guest contributors, with Capgemini as key sponsor.
“Though we in India have progressed a lot in providing healthcare and in increasing longevity, we continue to host world’s largest number of blinds, diabetics, patients suffering from cancer, heart and several other diseases,” said former Tata Motors CEO Ravi Kant.
This was the sixth report of a series of reports by Aspire Circle as part of a larger and overarching programme of generating 100 ‘Impact Ideas for India’s Inclusive Growth’ with the country’s largest collaborative research initiative involving over 200 experts with an eye on shaping India’s economy.
Liked this article? Sign up to receive our regular email newsletters, focused on Africa and World’s healthcare industry, directly into your inbox. SUBSCRIBE HERE
