0
0
New Delhi – A new report indicates that India’s healthcare expenditure is expected to rise significantly, from 3.3% to 5% of its Gross Domestic Product (GDP) by 2030.
The CareEdge Ratings report highlights that while global healthcare spending is around $10 trillion, India currently spends about 3.3% of its GDP on healthcare, with a per capita expenditure of approximately $80.
Several structural improvements are expected to contribute to this surge, including a doubling of medical seats, increased insurance coverage reaching approximately 40% of the population, and an expansion of hospital bed capacity. These factors are projected to substantially improve India’s healthcare infrastructure by 2030.
The Government’s increased efforts to boost healthcare spending, especially in rural areas and for weaker sections of society, are also expected to contribute to the projected increase.
Health insurance coverage in India has more than doubled in the last decade, reaching approximately 40% in 2023, driven by increased awareness and government-sponsored health insurance schemes. The recent expansion of the Ayushman Bharat scheme to cover citizens aged 70 years and above is likely to further expand health insurance coverage to about 50% in 2025.
India is expected to add approximately 25,000 to 30,000 hospital beds over the next three years, with investments from both the public and private sectors.
The availability of doctors in the country will also improve, driven by more than 1 lakh undergraduate medical seats. This may also bridge the gap between the availability of healthcare professionals in rural and urban areas.
**Disclaimer:** This article is based on a report by CareEdge Ratings.
Citations:
[1] https://bfsi.economictimes.indiatimes.com/news/insurance/indias-healthcare-spending-expected-to-surge-to-5-pc-of-gdp-by-2030-report/120062175
