Minister of Chemicals and Fertilizers expects threefold rise at a CAGR

Minister of Chemicals and Fertilizers Shri Sadananda Gowda Indian healthcare sector is expected to record a threefold rise at a CAGR of 22 per cent

Minister of Chemicals and Fertilizers Shri Sadananda Gowda inaugurated the Annual Health Conference Pharma Med HD 2019 Transforming the perception of Indian HealthCare Industry. The stakeholders of the Healthcare Industry on one platform through such conference the sector is expected to generate 40 million jobs in India by 2020.

Key highlights:

• The healthcare industry in India is one of the country’s largest economic sectors, with regard to both employment and revenue.
• Indian healthcare sector is expected to record a threefold rise, at a CAGR of 22 per cent during 2016-2022 to reach US$ 372 billion in 2022 from US$ 110 billion in 2016.
• India ranks 145th among 195 countries in terms of quality and accessibility of healthcare. There is immense scope for enhancing healthcare services penetration in India.
• Indian healthcare industry is one of the most knowledgeable and professional industries in the world.
• The Indian healthcare Delivery as in the hospitals are one of the most efficient and cost-effective healthcare delivery systems due to our expert doctors and specialists and well-equipped diagnostics and nursing services.
• Indian Medical Device manufacturers took a lead and are producing high quality devices.