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Mumbai, India: The market for single-speciality hospitals in India is set to grow to $31 billion in the next three-to-four years, expanding from the current $15 billion, according to a report. This growth includes developing small towns and hinterlands where healthcare demand is surging.
The market share of single-speciality hospitals, which serve segments like eyecare, dental care, orthopaedics, oncology, fertility treatments, and mother & child care, is expected to rise to 40% of the total healthcare market by 2028, the report states.
Of this, $4 billion of the total organized single-speciality healthcare, which includes major chains, is estimated to rise to $9 billion, the report predicts.
“By 2028, the proportion of single-speciality hospitals will expand significantly, with organized players more than doubling,” says Anshul Gupta, managing director and head of healthcare investment banking at Avendus.
One reason for this trend is the lower capital intensity and high specificity of care offered by these hospitals. Also, the blended business models are appealing to institutional investors and founders.
A competitive landscape now favors large eyecare chains like Dr Agarwal’s Eye Hospital and Maxivision, which have private equity backing and are engaged in acquisitions at the pace of eight to 10 acquisitions a year.
Another factor is the difference in the number of beds, with single-speciality hospitals typically having 40-50 beds compared to a standard 250-300-bed multispeciality hospital. These formats offer more flexibility and lower investments.
The private and trusts’ healthcare market is projected to grow to $79 billion by 2028, with total private equity investments in single-specialty sector touching $3.7 billion, accounting for 35% of hospital investments over the past decade.
“Strategic tailoring to specific sectors is capturing significant investments, particularly in capabilities like IVF, eye care, mother & child care, dialysis, and oncology,” notes Vishal Bali, executive chairman of Asia Healthcare Holdings.
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