Healthcare
Driving Growth with Trusted Advisory
India’s healthcare sector is one of the fastest-growing and most dynamic industries in the country, driven by rising population, increasing healthcare awareness, technological advancements, and supportive government initiatives such as Ayushman Bharat, National Health Mission, and PLI schemes for medical devices and pharmaceuticals. The sector spans hospitals, diagnostics, pharmaceuticals, medical devices, telemedicine, and healthtech services, offering immense opportunities for investment, innovation, and quality healthcare delivery.
At Baker Tilly ASA India, we support healthcare providers, pharmaceutical companies, medtech firms, diagnostics chains, and healthtech platforms with financial, regulatory, and strategic advisory. Whether you are expanding operations, evaluating mergers and acquisitions, optimizing supply chains, or navigating complex compliance requirements, our team delivers actionable solutions that drive sustainable growth and operational excellence.
Our services include:
- Compliance, accounting, and reporting under healthcare industry norms
- Financial planning and analytics for hospital and clinic operations
- Cost control and performance management for operational efficiency
- CERT-In cybersecurity and data privacy assessments for patient systems
- Strategic financial modeling for expansion and investor engagement
- Expatriate and employee tax advisory under Indian law
- Internal control and risk management improving governance
- Valuation and transaction support for joint ventures and buyouts
Industry Size
Market Value: India's healthcare market was valued at USD 400 billion in 2024, projected to reach USD 638 billion by 2025, growing at a 17.5% CAGR over the past decade.
Export Contribution
India’s pharma exports grew 9% in FY 2024–25 to USD 28.5 billion, outpacing the global 5% growth. India’s medical device exports reached ₹3,785 crore (≈USD 460 million) in FY 2024, supported by 32 PLI-approved projects.
Growth Potential
India’s hospital market was USD 98.98 billion in 2023, projected to grow at 8% CAGR to USD 193.6 billion by 2032. India’s digital health market reached USD 14.33 billion in 2024, expected to grow to USD 52.4 billion by 2030.