Healthcare may hit $700 bn by 2030: Report

India’s healthcare sector is projected to grow rapidly and could reach USD 700 billion by 2030, up from about USD 300 billion in FY25, according to a report by Praxis Global Alliance in collaboration with NATHEALTH. However, the report flags major gaps in financing, calling the current structure fragmented and underpenetrated.

Despite carrying nearly 20 per cent of the global disease burden, India accounts for just 1 per cent of global health spending. Out-of-pocket expenditure remains high at around 44 per cent, among the highest globally, highlighting the need for stronger financial protection systems.

While about 60 per cent of Indians have some form of health coverage, only 20 per cent is through private insurance, with the rest covered under government schemes. A significant 430 million people still lack effective coverage, falling between eligibility for public schemes and affordability of private insurance.

The report estimates that over USD 200 billion investment will be required in healthcare infrastructure by 2035. It also highlights the sector’s job creation potential, generating 23–27 jobs per USD 1 million invested.

Industry leaders stressed the need for stronger public-private collaboration and expansion of insurance penetration. They noted that India’s healthcare system is evolving into a major economic driver, supported by improving medical expertise and cost-effective services.

The report also pointed to shortages in healthcare resources, estimating the need for 1 million doctors, 3.5 million nurses, and 1.45 million additional hospital beds by 2035, alongside rising non-communicable diseases.