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Healthcare budgets estimated to increase by 10% CAGR by 2030: Amol Naikawadi

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Amol Naikawadi, Joint Managing Director, Indus Health Plus

The emergence of COVID-19 pandemic in 2020 has changed the entire procedure and course of action for Healthcare industry globally. The sector is experiencing a significant transformation from the technology standpoint. Over the next decade, preventive healthcare is ripe to change exponentially, fuelled in large part by the trajectory of spend in health and wellness and the advanced technologies coming to market. As a result of which, healthcare budgets in countries around the world are, in cumulative, estimated to increase by 10 per cent CAGR by 2030.

In addition, healthcare will be centered on prevention of diseases rather than seeking the treatment. There will be an evolution in personalised health solutions in ways that are integrated seamlessly into lives of individuals. Moreover, newer technologies are emerging with very different profiles – genetic testing out of which, is also gaining momentum in the field of both prevention and diagnostics. It has the ability to enhance our understanding on predisposition of various diseases, formulating personalised health and precise medicine.

In light of supporting the revolution of digitisation, many healthcare providers have already altered their practices with new digital and virtual platforms. Because of which, tele-medicine and tele-consultation are securing a good share in the healthcare ecosystem. Due to this pandemic crisis globally, the need for a safe and quality healthcare will see a huge surge in the upcoming decade. Apart from this, overall investment in diagnostic and preventive healthcare for family health and employee wellness programmes will see an exponential growth.

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