India has the potential to generate a staggering $774 billion in revenue in the healthcare sector by 2030, suggests a new report on Wednesday.
The report by Aspire Circle, a social impact leadership champion and advocate, showed that with an investment of $217 billion, the country can create 12 million jobs in healthcare and allied sectors, which can impact 1.5 billion lives by 2030.
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 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: preventive and primary healthcare; pharma, drug, and vaccine manufacturing; screening, diagnostics, and testing; affordable healthcare and operational efficiency; medical tourism; e-healthcare and telecare; health insurance and innovative impact financing; e-pharmacies; medical workforce education and skilling; and gene therapy.
According to Bhatia, the top 10 ideas in the research can lead to annual investment growth from $52 to $179bn between 2020 and 2030 and grow related revenues from $183 to $610bn.
“These top 10 ideas will serve and impact 1.5 bn Indians, create 12 million cumulative jobs and grow the overall sector to a colossal USD 774 billion by 2030 – an incredible promise worth nurturing,” he said.