“Good health and good sense are two of life’s greatest blessings.” —Publilius Syrus
Guided by the principle of Service before self, the healthcare sector is playing a critical role in maintaining the wellbeing of all the citizens of our country.
India’s healthcare sector- a leading sector in terms of services rendered, revenue and employment generation, is admired globally for its innovative approach to patient care, affordable services and accessibility till the last mile. The public and private sector both play an important role in enhancing the reach of critical care to all sections of society.
Traditionally the health sector is classified into two categories- public and private, where the public sector is known for its affordability and mass reach while the private sector focuses on personalised care and advanced treatments, but in the recent years there has also been the emergence of a joint effort by the Public and private sector to provide the best of both worlds in ensuring preventive and patient care, a fact greatly displayed during the pandemic.
The key players of the sector viz, hospitals, diagnostics and clinical centres, medical device manufacturers, med-tech companies, health insurance companies etc. have all shown robust growth over the years. According to a NITI Aayog report of 2021, the Indian healthcare sector has been growing at a CAGR of 22% since 2016 and has become one of the largest sectors of Indian economy in terms of revenue and employment. It also states that the healthcare sector has reached $372 billion in 2022 from $110 billion in 2016.
While the pandemic has accelerated the pace of development/maintenance of health infrastructure, key policy initiatives like the Ayushman Bharat Yojana, creation of digital health IDs, increased reforms, the support to new technology in the field etc. has made the healthcare sector a very interesting space.
With increased health challenges due to the fast-paced development and lifestyle changes, coupled with an increasing section of health-conscious people, the health sector is poised for sustained growth in the coming years.
The Indian healthcare sector has shown marked improvement across various parameters. The trends of the growth in healthcare sector are highlighted as follows-
6th Edition of ET Edge Best Healthcare Brands:
Over the last five years, the ET Best Healthcare Brands has served as a platform to facilitate meaningful discussions on the latest developments in the industry and the way forward to make it more robust in the coming days. It has also been a platform to recognize healthcare brands who have left an indelible mark on the industry.
In its 6th edition this year, the conclave will host leading voices from the sector to discuss and deliberate on key issues such as value-based care, nutritional aspects, role and importance of adopting to new age technology among others under the overarching theme of “Exploring the Next in Healthcare”.
The conclave will see the felicitation and recognition of top healthcare brands basis the extensive research carried out by our Knowledge and Research partner. The 6th edition of the exclusive Coffee Table Book will also be launched in this glittering ceremony.