In 2023, India's healthcare sector was valued at roughly 372 billion U.S. dollars. It was an increase in comparison to 2020, showcasing significant growth. The sector is one of the largest contributors in terms of revenue and employment in the country. Healthcare in India The country has seen a steady increase in healthcare expenditure, both from the government and private sector. With a growing population and an expanding middle class, there is a rising demand for quality healthcare services in the country. Notably, there has been a substantial reduction in out-of-pocket healthcare expenses over the years, largely due to government-led initiatives like the Ayushman Bharat scheme and increased investments in public healthcare infrastructure. Pharmaceutical sector The pharmaceutical sector plays a vital role in enhancing healthcare affordability, not just domestically but also across multiple international markets. Known for its generic drug manufacturing capabilities and robust pharmaceutical supply chain, this sector makes a substantial contribution to the nation's economy through extensive pharmaceutical exports.
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India healthcare IT market size reached USD 16.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 93.4 Billion by 2033, exhibiting a growth rate (CAGR) of 20.52% during 2025-2033. Government initiatives and increasing digital literacy are helping in ensuring a more efficient, accessible, and technologically advanced healthcare landscape in the country, which is primarily augmenting the market growth.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024
| USD 16.1 Billion |
Market Forecast in 2033
| USD 93.4 Billion |
Market Growth Rate 2025-2033 | 20.52% |
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product and services, component, delivery mode, and end user.
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According to Cognitive Market Research, the Global Healthcare BPO services market was estimated at USD 358.5 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 10.30% from 2023 to 2030. Factors Affecting the Healthcare BPO Services Market
Increasing Demand for Patient-Centred Therapies and Advancements in the Healthcare System Drives Market Growth.
The shift to patient-centered care models is driving the expansion of the healthcare BPO services industry. Demand for streamlined, patient-focused administrative and operational assistance is increasing as healthcare institutions worldwide increasingly recognize the necessity of adapting treatments and services to particular patient needs. By handling non-core tasks like billing, claims processing, and appointment scheduling, BPO providers are crucial in allowing healthcare organizations to concentrate on providing individualized care.
By 2025, about half of all healthcare organizations worldwide will have adopted AI policies, and some business analysts think this will significantly impact future business practices.
(Source:pharmanewsintel.com/news/ai-in-the-pharma-industry-current-uses-best-cases-digital-future)
Healthcare BPO services market growth has been driven by advancements in healthcare technology, such as electronic health records (EHRs), telemedicine systems, and analytics powered by artificial intelligence. Healthcare organizations should use BPO providers' expertise in integrating and managing these technologies to maximize clinical results, utilize data insights, and improve patient engagement.
Increasing Demand for Reduced Healthcare Expenses to Drive Market Growth
Healthcare organizations are searching for efficient cost-conservation techniques due to the rising expenses of healthcare services. Billing, claims processing, and revenue cycle management are examples of non-core administrative tasks businesses can outsource using healthcare BPO services as a solution. Healthcare providers can focus on core clinical operations while optimizing resource allocation, cutting overhead, and lowering costs.
The healthcare industry in India was worth about 280 billion dollars in 2020, and by 2022, it was estimated to grow to 372 billion dollars. The healthcare market in the nation had grown quickly and was now one of the largest industries in terms of employment and income.
(Source:www.cureus.com/articles/156574-the-transformation-of-the-indian-healthcare-system#!/)
Healthcare organizations can maximize their resources by outsourcing administrative and operational work to specialized BPO providers. This results in increased labor productivity and the effective use of qualified personnel for patient care and medical services.
Factors Hindering the Healthcare BPO Services Market Growth
Data Privacy and Security Issues to Hinder Market Growth
Worries about data security and privacy severely constrain the market for healthcare BPO services. Handling sensitive patient information, financial records, and medical data to avoid breaches and unauthorized access calls for strong cybersecurity safeguards. The risk of data breaches and improper treatment of patient data can undermine trust between healthcare organizations and BPO providers, resulting in harm to reputations and legal consequences.
The COVID-19 Impact on Healthcare BPO Services Market
The COVID-19 pandemic brought serious disruptions in several businesses, and the healthcare industry was no exception. Due to the pandemic, there were significant changes in the market for healthcare BPO services. The pandemic made the value of technological advancements and distant operations clear. To continue providing services during lockdowns and social isolation measures, healthcare BPO providers quickly embraced technology, including telehealth support, virtual consultations, and remote monitoring. The need for BPO services that might help these technological transformations grow due to the accelerated digital transformation. The need for telehealth services has increased, leading to increased services offered by BPO firms specializing in appointment settings, patient support, and remote monitoring. They aided healthcare facilities in managing the surge in online consultations and delivering a seamless patient experience. What are Healthcare BPO Services?
The increasing need for efficient healthcare operations, the gro...
In 2022, the health-tech sector's market size in India stood at approximately **** billion U.S. dollars. By 2025, it is projected to grow to around **** billion U.S. dollars. The health-tech sector is broadly divided into curative care and preventive care.
The healthcare delivery (hospitals) sector was valued the highest among the different Indian healthcare sectors in the financial year 2024. The diagnostics sector followed with a market size of ** billion U.S. dollars. The healthcare market overall was valued at *** billion dollars for the same year. Private hospitals dominate healthcare delivery The private sector's prominence in India's healthcare system is evident, with ** percent of treatment value being provided by private hospitals in 2022. This stark contrast to government hospitals, which contributed only ** percent, highlights the growing reliance on private healthcare services. The shift towards private facilities for both inpatient and outpatient care is largely attributed to the relatively low government healthcare expenditure, pushing patients to seek alternative treatment in the private sector. Diagnostics sector set for rapid expansion The diagnostics sector, the second-largest segment of India's healthcare market, is also on track for substantial growth. Valued at ** billion U.S. dollars in 2023, it is forecast to reach ** billion by 2028. This growth is driven by increasing awareness of preventive healthcare and advancements in diagnostic technologies. The sector is further divided into pathology and radiology segments, catering to diverse diagnostic needs.
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The India hospital market size was valued at USD 98.98 Billion in 2024, driven by the rise in the prevalence of chronic and infectious diseases across India. The market size is anticipated to grow at a CAGR of 5.80% during the forecast period of 2025-2034 to achieve a value of USD 173.94 Billion by 2034.
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The Indian out-of-pocket healthcare market is poised for significant growth, driven by factors such as rising healthcare costs, an expanding elderly population, increasing prevalence of chronic diseases, and limited access to affordable health insurance. While precise figures for 2029 require a comprehensive market study, we can project a robust expansion based on observable trends. Assuming a conservative Compound Annual Growth Rate (CAGR) of 10% – a figure supported by the general growth in India's healthcare sector and increasing healthcare expenditure – and a 2025 market size of ₹5 trillion (approximately $600 billion USD, a reasonable estimate considering India's population and healthcare spending), the market in 2029 could reach approximately ₹8 trillion (approximately $960 billion USD). This significant growth will be fueled by escalating demand for private healthcare services, including specialized treatments and advanced medical technologies, which are frequently paid for out-of-pocket. However, this growth is constrained by several factors. Uneven income distribution across the population limits affordability for a significant portion, resulting in delayed or forgone healthcare. Government initiatives aimed at improving healthcare access and affordability, such as Ayushman Bharat, will influence market dynamics, potentially slowing the growth of out-of-pocket spending but also creating new avenues for private sector engagement. The market will likely witness a shift towards more affordable and accessible healthcare options to meet the demand of the burgeoning middle class, including the expansion of telemedicine and the adoption of preventative healthcare measures. Furthermore, innovative payment models and increased insurance penetration could gradually reduce the reliance on out-of-pocket expenses.
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India healthcare asset management market size reached USD 585.1 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 5,158.4 Million by 2033, exhibiting a growth rate (CAGR) of 27.4% during 2025-2033. The growth in the number of healthcare facilities, such as clinics, hospitals, and diagnostic centers, which creates a demand for effective asset management solutions to handle the increasing volume of medical equipment, is driving the market.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | USD 585.1 Million |
Market Forecast in 2033 | USD 5,158.4 Million |
Market Growth Rate 2025-2033 | 27.4% |
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product, application, and end user.
In 2021, the market size of the preventive health tech sector was ** billion U.S. dollars, with the fitness and wellness sector dominating the market share. It is estimated that the country's preventive health-tech sector will grow at a compound annual growth rate of ** percent, reaching a market size of *** billion dollars by 2025.
Artificial Intelligence (AI) Market in Healthcare Size 2025-2029
The artificial intelligence (AI) market in healthcare size is forecast to increase by USD 30.23 billion, at a CAGR of 33.1% between 2024 and 2029.
The market is experiencing significant growth, driven by the increasing demand for digitization in healthcare services. AI-based tools are increasingly being adopted to improve efficiency, accuracy, and patient outcomes in various healthcare applications. One of the most promising areas for AI in healthcare is elderly care, where these technologies can help address the growing population of aging individuals and their unique healthcare needs. However, the market faces challenges, including skepticism from physicians and providers regarding the reliability and effectiveness of AI solutions.
This reluctance can hinder the widespread adoption of AI in healthcare, necessitating efforts to build trust and demonstrate the tangible benefits of these technologies. Navigating these challenges will be crucial for companies seeking to capitalize on the market's potential and make a lasting impact on the strategic healthcare landscape.
What will be the Size of the Artificial Intelligence (AI) Market in Healthcare during the forecast period?
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The market continues to evolve, with dynamic applications across various sectors. AI-powered diagnostics leverage machine learning algorithms and deep learning models for improved diagnostic accuracy, while ethics remain a critical consideration in their implementation. Robotic surgery and wearable sensors enhance patient care and enable remote monitoring, contributing to better outcomes and reduced medical errors. Personalized medicine and precision oncology benefit from data analytics platforms and big data management, facilitating early disease detection and drug discovery. Hospital information systems optimize workflows and ensure data integration, security, and privacy. Model validation and data validation are essential for maintaining model accuracy and reducing bias.
AI's role in mental health care and chronic disease management is increasingly significant, with computer vision systems and explainable AI facilitating image recognition and algorithm transparency. Telemedicine platforms and predictive analytics enable cost reduction and increased efficiency, while process optimization and risk stratification improve patient care. The ongoing unfolding of market activities includes the development of AI ethics frameworks, bias mitigation strategies, and data security measures. Natural language processing and data analytics platforms facilitate improved healthcare IT infrastructure, enabling more effective clinical decision support and patient privacy protection. Continuous advancements in AI technology and its integration into healthcare systems promise to revolutionize the industry, offering significant benefits for patients and healthcare providers alike.
How is this Artificial Intelligence (AI) in Healthcare Industry segmented?
The artificial intelligence (AI) in healthcare industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Application
Medical imaging and diagnostics
Drug discovery
Virtual assistants
Operations management
Others
Component
Software
Hardware
Services
End-user
Hospitals and clinics
Research institutes and academies
Geography
North America
US
Canada
Europe
France
Germany
Italy
UK
APAC
China
India
Japan
South America
Brazil
Rest of World (ROW)
By Application Insights
The medical imaging and diagnostics segment is estimated to witness significant growth during the forecast period.
Medical imaging, a crucial aspect of healthcare, involves creating visual representations of the human body for clinical analysis and diagnosis. Radiology, the science behind this process, encompasses techniques such as X-rays, CAT scans, and MRIs. However, managing vast amounts of high-resolution medical imaging data for effective treatment and diagnosis is a significant challenge for even large healthcare institutions and experienced professionals. The increasing volume of data and the need for radiologist efficiency have led to the adoption of Artificial Intelligence (AI) in medical imaging. AI technologies like natural language processing, machine learning algorithms, deep learning models, and image recognition are employed to enhance diagnostic accuracy, reduce medical errors, and improve efficiency.
Furthermore, AI aids in data integration, model
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The India pharmaceutical intermediate market is expected to reach USD 2,781.1 million in 2025 and is projected reach a total value of USD 5,587.7 million by 2035. This represents a compound annual growth rate (CAGR) of 7.2% during the forecast period from 2025 to 2035.
Attributes | Values |
---|---|
Estimated India Industry Size (2025) | USD 2,781.1 million |
Projected Global Value (2035) | USD 5,587.7 million |
Value-based CAGR (2025 to 2035) | 7.2% |
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The Asia-Pacific (APAC) healthcare IT market is experiencing robust growth, driven by increasing government investments in healthcare infrastructure, rising adoption of electronic health records (EHRs), and a burgeoning demand for telehealth solutions. The region's large and rapidly aging population, coupled with increasing prevalence of chronic diseases, fuels the need for efficient and accessible healthcare services, significantly boosting the demand for sophisticated IT solutions. Key segments within APAC exhibiting strong growth include Radiology Information Systems (RIS), Laboratory Information Systems (LIS), and Clinical Decision Support Systems (CDSS). India and China are leading the market, propelled by expanding healthcare IT infrastructure development and government initiatives promoting digital healthcare transformation. However, challenges remain, including a lack of digital literacy in certain regions, interoperability issues between different healthcare systems, and data security concerns. Despite these challenges, the market's positive trajectory is expected to continue, with a projected CAGR exceeding the global average due to significant investments in digital health infrastructure and increasing private sector participation. The growth is further accelerated by the increasing adoption of cloud-based solutions, improving affordability, and enhancing scalability and accessibility. This creates opportunities for both established global players and local companies catering to the specific needs of the diverse APAC region. Furthermore, the focus on value-based care and the growing use of AI and machine learning in healthcare are also impacting the market's growth and direction. The forecast period (2025-2033) promises even more significant growth for the APAC healthcare IT market. This expansion will be driven by continued technological advancements, increased government support for digital healthcare, and a rising middle class with greater access to and demand for better healthcare services. Specific opportunities exist in areas such as improving interoperability between various systems, enhancing cybersecurity measures, and expanding telehealth capabilities to underserved populations. This will require collaborations between government bodies, private healthcare providers, and technology companies to ensure a well-integrated and secure healthcare ecosystem across the diverse landscapes of APAC. The market's success will depend on addressing the challenges while capitalizing on the region's unique growth opportunities. Recent developments include: August 2022: Intellect, Asia Pacific's mental health technology company, declared its official launch in Japan as part of its regional expansion plans. Intellect's launch in Japan is heavily backed by some of Japan's most prominent venture capital investors, including JAFCO Asia, Headline Asia, DG Daiwa Ventures, and some of the largest Japanese conglomerates, PERSOL Holdings, and MS&AD Ventures., February 2022: The Indian government announced two new projects to promote digital health for its citizens as it continues to battle the ongoing COVID-19 pandemic. The government would launch an open platform connecting the country's digital health ecosystem under the Ayushman Bharat Digital Health Mission (ABDM). The platform would include digital registries of health providers and facilities, unique health identities, a consent framework, and universal access to health facilities.. Key drivers for this market are: Supportive government policies and introduction of FDI in major countries to aid adoption, Growing pressure on the healthcare infrastructure in the region due to high population coupled with the need to reduce expenditure; Emergence of Singapore and other SEA countries as a hub in medical IT sector backed by the strong investment activity and higher propensity to adopt digital transformation practices5.1.4 key global cues such as patient-based & on-demand healthcare delivery & continuous monitoring expected to drive adoption in Asia; Early adopters such as Japan and China continue to record steady growth due to demographic and economic conditions. Potential restraints include: Supportive government policies and introduction of FDI in major countries to aid adoption, Growing pressure on the healthcare infrastructure in the region due to high population coupled with the need to reduce expenditure; Emergence of Singapore and other SEA countries as a hub in medical IT sector backed by the strong investment activity and higher propensity to adopt digital transformation practices5.1.4 key global cues such as patient-based & on-demand healthcare delivery & continuous monitoring expected to drive adoption in Asia; Early adopters such as Japan and China continue to record steady growth due to demographic and economic conditions. Notable trends are: Patient Based Systems (Remote Healthcare, Wearables etc.) is Expected to Hold the Largest Market Share.
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The global sales of real-time e-healthcare system are estimated to be worth USD 35,602.1 million in 2025 and anticipated to reach a value of USD 64,362.0 million by 2035. Sales are projected to rise at a CAGR of 6.1% over the forecast period between 2025 and 2035. The revenue generated by real-time e-healthcare system in 2024 was USD 33,555.2 million.
Attributes | Key Insights |
---|---|
Historical Size, 2024 | USD 33,555.2 million |
Estimated Size, 2025 | USD 35,602.1 million |
Projected Size, 2035 | USD 64,362.0 million |
Value-based CAGR (2025 to 2035) | 6.1% |
Category-wise Insights
By Product Type | Wireless Body Sensor Network Based e-Healthcare Systems |
---|---|
Value Share (2025) | 34.4% |
By Application | Patient Monitoring |
---|---|
Value Share (2025) | 29.4% |
Semi Annual Market Update
Particular | Value CAGR |
---|---|
H1 | 7.1% (2024 to 2034) |
H2 | 6.5% (2024 to 2034) |
H1 | 6.1% (2025 to 2035) |
H2 | 5.7% (2025 to 2035) |
Country-wise Insights
Countries | Value CAGR (2025 to 2035) |
---|---|
United States | 1.9% |
Germany | 2.4% |
China | 6.1% |
France | 3.1% |
India | 6.9% |
Spain | 3.5% |
Australia & New Zealand | 3.1% |
Japan | 5.8% |
Business Intelligence In Healthcare Sector Market Size 2025-2029
The business intelligence in healthcare sector market size is forecast to increase by USD 18.88 billion at a CAGR of 23% between 2024 and 2029.
The Business Intelligence (BI) market in healthcare is experiencing significant growth, driven by the increasing need for improved efficiency and data-driven decision-making in the sector. One of the key trends in this market is the rising adoption of predictive analytics and artificial intelligence (AI) technologies to enhance healthcare operations and patient care. These advanced BI tools enable healthcare providers to analyze large volumes of data, identify patterns, and make accurate predictions, leading to better patient outcomes and cost savings. Another significant factor fueling market growth is the presence of open-source BI companies, offering cost-effective solutions that cater to the unique requirements of the healthcare industry.
However, the implementation of BI tools in healthcare faces challenges, including data security and privacy concerns, interoperability issues, and the need for specialized expertise to effectively analyze and interpret complex healthcare data. Despite these obstacles, the market presents numerous opportunities for companies to innovate and provide solutions that address these challenges, ultimately improving patient care and operational efficiency in the healthcare sector.
What will be the Size of the Business Intelligence In Healthcare Sector Market during the forecast period?
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How is this Business Intelligence In Healthcare Sector Industry segmented?
The healthcare business intelligence market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Component
Software
Services
Deployment
Cloud-based
On-premise
Application
Clinical analytics
Financial analytics
Operational analytics
Population health management
Geography
North America
US
Canada
Europe
France
Germany
UK
APAC
China
India
Japan
South Korea
South America
Brazil
Rest of World (ROW)
By Component Insights
The software segment is estimated to witness significant growth during the forecast period.
In the dynamic healthcare business intelligence market solutions have emerged as essential tools for organizations to gain valuable insights from their data. BI platforms facilitate the analysis of data from various sources, generating actionable insights for decision-making. Dashboard and reporting software create customized visualizations of key performance indicators (KPIs) and metrics, ensuring real-time access to critical information. Data analytics software, fueled by advanced algorithms and machine learning models, uncover hidden patterns, trends, and relationships within healthcare data. Clinical data warehousing enables the storage, organization, and management of large volumes of structured and unstructured data from multiple sources, enhancing interoperability and data accessibility.
Interoperability standards ensure seamless data exchange between different systems, promoting clinical decision support and population health management. Patient satisfaction and regulatory compliance are crucial aspects of healthcare operations. Performance reporting and revenue cycle management help organizations monitor and improve their financial performance. Supply chain management and emergency preparedness ensure efficient operations and effective response to crises. Healthcare data analytics plays a pivotal role in disease outbreak prediction, risk stratification, cost containment, and quality improvement initiatives. Wearable technology integration, data visualization dashboards, and mobile healthcare applications further enhance patient-centered care and patient engagement. Precision medicine and hospital operations optimization leverage data analytics to deliver personalized care and streamline processes.
Cloud-based solutions and artificial intelligence in helathcare enable healthcare organizations to harness the power of data for predictive modeling, disease surveillance, and population health management. Regulatory compliance, physician practice management, and healthcare administration are also areas where BI solutions offer significant benefits. Data mining algorithms and healthcare administration tools support cost containment, disease management, and public health surveillance. Value-based care and patient-centered care models rely on BI solutions to optimize resource allocation, improve patient outcomes, and reduce healthcare disparities.
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The Software segment was valued at USD 3.05 billion in 2019 and show
In 2023, India's healthcare sector was valued at approximately 372 billion U.S. dollars. It represented an increase compared to 2020, showcasing significant growth. The sector is one of the largest contributors in terms of revenue and employment in the country. Healthcare in India The country has seen a steady increase in healthcare expenditure, both from the government and the private sector. With a growing population and an expanding middle class, there is a rising demand for quality healthcare services in the country. Notably, there has been a substantial reduction in out-of-pocket healthcare expenses over the years, largely due to government-led initiatives like the Ayushman Bharat scheme and increased investments in public healthcare infrastructure. Pharmaceutical sector The pharmaceutical sector plays a vital role in enhancing healthcare affordability, not just domestically but also across multiple international markets. Known for its generic drug manufacturing capabilities and robust pharmaceutical supply chain, this sector makes a substantial contribution to the nation's economy through extensive pharmaceutical exports.
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India medical tubing market size reached USD 474.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 794.0 Million by 2033, exhibiting a growth rate (CAGR) of 5.9% during 2025-2033. The increasing number of diverse healthcare settings, encompassing clinics, hospitals, ambulatory surgical centers, and medical laboratories, is primarily driving the market growth across the country.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | USD 474.0 Million |
Market Forecast in 2033 | USD 794.0 Million |
Market Growth Rate 2025-2033 | 5.9% |
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product, structure, application, and end user.
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The India Medical Devices Market Report is Segmented by Type of Device (Respiratory Devices, Cardiology Devices, Orthopaedic Devices, Diagnostic Imaging Devices, Endoscopy Devices, Ophthalmology Devices, and Other Type of Devices), and by End-Users (Hospitals, Diagnostic Centres, and Other End Users). The Report Offers the Value (in USD) for the Above Segments.
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The India medical gas market size reached USD 715.50 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,656.70 Million by 2033, exhibiting a growth rate (CAGR) of 9.03% during 2025-2033. The India medical gas market is driven by rapid healthcare infrastructure expansion, increasing adoption of advanced medical devices, rising demand for home healthcare services, government initiatives like the Ayushman Bharat scheme, and growing investments in domestic medical gas production, ensuring a steady supply to support hospitals, clinics, and emergency medical care.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | USD 715.50 Million |
Market Forecast in 2033 | USD 1,656.70 Million |
Market Growth Rate (2025-2033) | 9.03% |
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on gas type, application, and end user.
This statistic illustrates the market size of medical technology sector across India in 2010, 2014 and 2025. The market size of the medical technology sector across India is projected to be approximately 50 billion U.S. dollars in 2025, while the market size of the medical technology sector across India was around ten billion U.S. dollars in 2014.
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The India medical gases market size has been growing at a rapid rate, driven by the increasing prevalence of chronic respiratory disease accompanied with the rising geriatric population in India. The market size is anticipated to grow at a CAGR of 15.00% during the forecast period of 2025-2034. The demand for home healthcare has also had a significant impact on India medical gas market demand.
In 2023, India's healthcare sector was valued at roughly 372 billion U.S. dollars. It was an increase in comparison to 2020, showcasing significant growth. The sector is one of the largest contributors in terms of revenue and employment in the country. Healthcare in India The country has seen a steady increase in healthcare expenditure, both from the government and private sector. With a growing population and an expanding middle class, there is a rising demand for quality healthcare services in the country. Notably, there has been a substantial reduction in out-of-pocket healthcare expenses over the years, largely due to government-led initiatives like the Ayushman Bharat scheme and increased investments in public healthcare infrastructure. Pharmaceutical sector The pharmaceutical sector plays a vital role in enhancing healthcare affordability, not just domestically but also across multiple international markets. Known for its generic drug manufacturing capabilities and robust pharmaceutical supply chain, this sector makes a substantial contribution to the nation's economy through extensive pharmaceutical exports.