Role of health medical and pharmaceutical industry in India

The rise in healthcare and pharmaceutical
Being among the largest sector in India, the industry is categorized into the private and public sector. The government is into the public healthcare and focuses on providing basic healthcare facilities in cities and rural areas. The private sector, on the other hand, is a major health care provider and also the manufacturer of various equipment, pharmaceuticals, services, and more. The country has a huge pool of qualified and trained doctors who provide best health care. The country also has a large number of foreigners visiting the country for treatments and other medical services which also gets in good revenue for the country. The industry also comprises of the pharmaceutical industry that is today make more revenue for the country. The branded generics industry dominates the pharmaceutical market and constitutes around 70 % of the market. Today the country also produces generic drugs that account for 20 % of the total exports. The industry is expected to grow at 20 % of CAGR in the future years. Check the biotechnology industry, which is growing at 30 % and reached $ 100 billion by 2025. The ayurvedic industry is also one of the major industries here that attract domestic clients but is also in demand abroad.

Growth and expansion
The hospitals along with the diagnostic centers attract a large number of foreign direct investments with $ 3.14 billion from 2000 to 2015. There are some major international players who have invested in the industry to build hospitals and other facilities that are useful for the patients. Medicines, diagnostic centers, laboratories, clinics, hospitals, drugs and other health care facilities and aids are rising with the latest technology and studies.

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