The
Indian healthcare sector has been growing at a frenetic pace
in the past few years. The windfall began ever since the developed
world discovered that it could get quality service for less
than half the price. 
The Indian healthcare market is estimated to be US$ 30 billion
and includes pharmaceuticals, healthcare, medical and diagnostic
equipment and surgical equipment and supplies. Revenues from
the healthcare sector account for 5.2 per cent of the GDP
and it employs over 4 million people. Private spending accounts
for almost 80 per cent of total healthcare expenditure.
According to a study by CII-McKinsey on ‘Health in
India’, India will spend US$ 45.76 billion on healthcare
in the next five years as the country, on an economic upsurge,
is witnessing changes in its demographic profile accompanied
with lifestyle diseases and increasing medical expenses.
Coupled with the expected increase in the pharmaceutical
sector, the total healthcare market in the country could increase
to US$ 53-73 billion (6.2-8.5 per cent of GDP) in the next
five years.
Private healthcare will continue to be the largest component
in 2012 and is likely to double to US$ 35.7 billion. It could
rise by an additional US$ 8.9 billion if health insurance
cover is extended to the rich and middle class
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