The pandemic crisis in India has put a lot of focus on healthcare. Yet India spends a mere 1.5% of its GDP on healthcare services (2018-19). Compare that with the U.S. which spends over 16% of its GDP on healthcare. Countries like United Kingdom, The Netherlands, New Zealand, Finland and Australia spend over 9% of their total GDP on public healthcare. And Japan, Canada, France, Germany and Switzerland spend about 10%. The Narendra Modi-led government has aimed to raise the country’s expenditure on public health services to 2.5% of the GDP by 2025. But RBSA Advisors’ latest report titled “Unleashing the Healthtech Potential projects the Indian health-tech market to grow at 39 per cent CAGR over FY2020 – FY2023 and is expected to reach $50 billion by 2033. According to the report, the health technology market currently stands at $2 billion, less than one per cent of the overall healthcare industry.
In India, the health-tech market can be broadly divided into six segments – Telemedicine, e-pharmacy, fitness & wellness, healthcare IT & Analytics, home healthcare and personal health management. Pharm-Easy, Cure fit, Practo are some of the significant health-tech start-ups that have caused a stir and taken the market by storm.
Download and read the full report: RBSA-Research Report-Embedded Technologies-in-Healthcare-Services-Industry-
Rajeev Shah M&D & CEO of RBSA Advisors, said, “The pandemic and adoption of technology in healthcare has brought a quantum shift in the sector. In recent years, we have seen some of the most significant deals, and the Indian health-tech sector has received close to $1.6 billion in funding since 2017. There is a huge opportunity for growth within health-tech because of the meagre market share in the broader healthcare sector. The most crucial factors driving the growth currently are Covid-induced restrictions and safety protocols, and the acceptance of technology in the industry. As the industry is looking to grow at a phenomenal rate, the investors are ready to invest in this sunshine sector”.
RBSA Advisors, founded in 1971, is a leading independent Transaction Advisory firm with service offerings including Valuation, Investment Banking, Restructuring, Due Diligence, Transaction Tax, Risk Advisory and Litigation Support. With more than 250+ professionals, its has eight offices in India, Dubai and Singapore. RBSA has been consistently ranked amongst the top 5 M&A advisory firms by both Merger Market and Venture Intelligence. RBSA has worked with clients across more than 30 Countries. It provides clients with seamless advisory services across the world. It has a registered valuer entity (RVE) and a recognized insolvency professional entity (IPE). We are also a SEBI registered Category I Merchant Banking Firm.
RELATED STORY
4 Healthcare Technology Tools That Can Help Make A Difference, During These Trying Times