~ India’s healthcare
sector recorded 1,513 transactions worth $21.5 billion between FY2019–FY2025,
reflecting sustained investor confidence
~ Sector growing at
13%, outpacing India’s 6.5% GDP growth rate
~ 40% of India’s PE/VC
investments over the last decade directed to hospitals, pharma & RCM
enablers
~10% of all IPOs in
the last five years originated from healthcare companies
~Make-in-India gains
traction as India’s medical devices market heads to $50B by 2030, supported by
a ₹3,420 crore PLI scheme
~ Founders across
Alkemi’s 15-company portfolio building solutions spanning diagnostics, devices,
wellness, health delivery, and healthcare infrastructure
New
Delhi: Alkemi
Growth Capital, one of India’s leading healthcare focused growth investors,
hosted a closed-door gathering with 15 portfolio company founders, senior
venture capitalists, private equity investors, and healthcare operators to
discuss sectoral shifts and emerging investment opportunities in India’s rapidly
expanding healthcare industry.
Between
FY2019 and FY2025, India’s healthcare sector recorded 1,513 transactions
amounting to $21.5 billion, highlighting strong investor confidence and
sustained entrepreneurial activity. As India positions itself as a global
economic force prioritizing population-wide wellbeing, the discussion centered
on identifying the founders and companies that will define the next decade of
healthcare innovation.
An investor panel
featuring Ritesh Chandra (Avendus), Dheeraj Jain (Founder – RedCliffe Labs
& Angel Investor), Mayur Sirdesai (Somerset Indus Capital Partners),
and Sohail Chand (Nueva Capital) highlighted key investment patterns:
- Over the last decade, 40% of private equity
investment in India has flowed into hospitals, pharmaceuticals, and
RCM (Revenue Cycle Management) enablers.
- While GDP grows at 6.5%, healthcare is
expanding at 13%, powered by higher disposable incomes, increased
health awareness, demographic shifts, and chronic disease prevalence.
- 10% of all IPOs in the last five years have
been healthcare companies, reflecting strong exit potential.
Speaking about
Alkemi’s investment philosophy, Alka Goel, Managing Partner at Alkemi,
said, “We at Alkemi back founders who fuse courage with execution. Courage to
reimagine what's possible in various sub-sectors, and the relentless bias to
action required to outpace incumbents. In India's healthcare and wellness
ecosystem, these aren’t aspirational values, they’re the defining line between
building category leaders and blending into the noise.”
Discussions
highlighted that the definition of “health” in India has expanded sharply
toward preventive wellness. Consumers are prioritizing hygiene, nutrition,
early diagnostics, and evidence-based care. Portfolio companies such as Pee
Safe (feminine hygiene) and RedCliffe Labs (at-home diagnostics)
reflect this shift, while categories like skincare, personal care, and curative
diagnostics are converging into a larger wellness-based market.
Consumers now demand
scientific transparency, using AI-enabled tools to make informed decisions,
pushing founders to invest in credibility and education from the start.
India’s
historical dependence on imports, where nearly 80% of medical devices
are still imported is gradually shifting. As per IBEF, the Indian medical
devices market is projected to reach $50 billion by 2030. Domestic
innovators such as Datar Cancer Genetics and Medvital are driving
progress in oncology diagnostics and medical devices. The government’s PLI
scheme for medical devices (₹3,420 crore) is accelerating local
manufacturing and technology development.
Strong
interest was observed in companies building backend infrastructure for
hospitals and healthcare providers, including staffing solutions, laundry
systems, and digital platforms. Alkemi portfolio companies such as Jobizo
(healthcare staffing), Quick Clean (hospital laundry services) and Doceree
( technology led advertising platform) represent this growing category of
enablers critical to system-wide efficiency.
The convening
concluded that India’s next generation of category-defining healthcare
companies will emerge from founders who combine scale, profitability, and
impact. These leaders will build the infrastructure underpinning India’s
transformation into a global healthcare innovation hub, taking “Sehat” beyond
Roti, Kapda, Makaan as a national priority.