Indian healthcare market to hit USD372 bn by 2022
03-Dec-17, ET Healthworld
India's healthcare market may see threefold jump in value terms to USD 372 bn by 2022, driven by growing incidence of lifestyle diseases and rising demand for affordable healthcare delivery systems.
%20ET%20Healthworld.jpg "Indian healthcare market to hit USD372 bn by 2022 (c) ET Healthworld")
Image: ET Healthworld
A report by Assocham and RNCOS said the value of the sector in 2016 stood at USD110 bn and will see a compounded annual growth rate of 22 percent.
The medical devices market was valued at USD4 bn as of 2016 and is likely to cross the USD11 bn mark by 2022 on the back of growing geriatric population, an uptick in medical tourism and a gradual decline in cost of medical services.