Newsletter
India’s healthcare market is turning into one of the country’s hottest investment stories and hospital chains are racing to expand.
What’s happening: Temasek and TPG-backed Manipal Health Enterprises have acquired a hospital asset in Mumbai’s Andheri suburb for ₹495 crore.
The deal includes a 752.7-square-metre land parcel along with a hospital building spread across more than 20,600 square metres of built-up area.
But this isn’t just another real estate bet. It highlights a much larger shift happening across India’s healthcare sector.
Hospital operators are increasingly targeting existing healthcare assets in major cities like Mumbai, where land is scarce, expensive, and demand for quality medical care keeps rising.
The numbers: India’s hospital market has grown rapidly from $75.3 billion in FY18 to $193.4 billion in FY25, clocking a strong annual growth rate of 14.4%.
The momentum is expected to continue, with the market projected to nearly double again to $364.6 billion by 2034.
Private hospitals are likely to lead that growth, driven by better insurance penetration, higher-paying patients, and rising revenue earned per occupied bed.
