Since 2016, the Indian healthcare industry has been growing at a Compound Annual Growth Rate of approximately 22%. It is expected to reach a valuation of $372 billion by the end of 2023. This has resulted in making healthcare one of the largest sectors of the Indian economy, in terms of employment and revenue.
In this article, we will highlight the top 10 healthcare companies in India.
Established in 1996, Fortis Health Limited is an Indian multinational healthcare company that runs its chain of private hospitals. The company started its healthcare operations in Mohali, Punjab, and from there it expanded by acquiring the healthcare branch of Escorts group, and slowly grew a foothold in the healthcare industry all over India.
Dr. Lal PathLab
One of India’s oldest and leading service providers of diagnostic and healthcare tests, Dr. Lal PathLabs was established in 1949, by a junior doctor in the British India Army, S. K. Lal, in New Delhi. The company is famous for offering a wide range of medical tests on blood, urine, etc.
With over 200 laboratories and diagnostic centers, and more than 1500 collection centers in India, DR. Lal PathLab is one of the biggest names in the Indian healthcare industry.
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Prathap C. Reddy founded the first corporate healthcare provider in India in 1983, by the name of Apollo Hospitals Enterprises Limited. It is headquartered in Chennai and has an enormous hospital chain, pharmacies, primary care, diagnostic centers, and telehealth clinics.
Many Apollo Hospitals have been the first Indian hospitals to receive International Healthcare Accreditation by Joint Commission International (JCI) and NABH accreditation.
Founded in the 1960s, Wockhardt Ltd. is a global biotechnology and pharmaceutical company that is based out of Mumbai, India. It specializes in producing biopharmaceuticals, nutrition products, vaccines, active pharmaceutical ingredients, and formulations.
Formerly known as Religare Health Insurance Company Limited, Care Health Insurance is a part of the Religare Group and a direct subsidiary of Religare Enterprises Limited was founded in 2012.
They offer health insurance, personal accident, maternity, international travel insurance, top-up coverage, critical illness insurance, group personal accident insurance for corporations, etc.
Aster DM Health
Established in 1987 by Azad Moopen, Aster DM Healthcare Limited is a healthcare provider across the country. The company is registered in India, however, it is headquartered in Dubai.
Aster DM currently operates medical centers, pharmacies, hospitals, and diagnostic centers.
Healthcare Global Enterprises Limited was established in 1998 and provides medical and surgical services such as liver transplantation, cancer care, chemotherapy, cyberknife surgery, and medical oncology services.
Established in 2000, Narayana Hrudayalaya Limited operates and runs a network of hospitals that offer general surgery, cardiac surgery, diabetes and endocrinology, cardiology, facial surgery, obstetrics and gynecology, oncology, pediatrics transplant, urology, and neuroscience services to its patients worldwide.
Piramal Pharma was separated from the Piramal Enterprises group in 2022. It is a healthcare company that offers healthcare, pharmaceuticals, and life sciences. It also includes a contract development and manufacturing organization, a manufacturer of inhalational anesthetics and other hospital generics.
Established in 1980, Metropolis Healthcare Ltd. is an Indian healthcare company that runs a chain of diagnostic companies all over India. They run 124 clinical laboratories and have 2400 collection centers across 7 countries, including India.