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Indian life sciences sector with pharma, biotech, healthcare, diagnostics and med tech has experienced rapid growth due to a combination of strong domestic foundations, global demand for affordable healthcare, government policies, innovation, and a highly skilled workforce. With ongoing investments in R&D, regulatory reforms, and strategic global collaborations, the sector is poised for even greater expansion in the future.
In 2024 there were a number of tailwinds that drove India’s life sciences sector. Some of these were India’s growing population as well as its higher life expectancy, improved R&D and manifold technological developments and government support. Advances in biotechnology, precision medicine and AI-/gen AI-supported research have led to several accomplishments in the sector, pointed out Amit Sehgal, VP & GM - Lab Solutions Segment, AMEA,Avantor.
This dynamic growth will continue in 2025. As the adoption of existing and upcoming technologies increases, we are likely to see deeper exploration of tools, techniques and therapies to prioritize access to affordable medicines. As regulatory frameworks evolve to keep pace with technological innovations, the sector could see accelerated drug approvals and global collaboration, added Sehgal.
According to Priyadarshi Mohapatra, founder & CEO, CureBay, advancements in telemedicine and AI-powered solutions helped extend care to underserved areas, underlying technology’s transformative potential. Initiatives such as remote diagnostics and wearable health monitors gained traction, bridging urban-rural healthcare divide. However, challenges such as inadequate infrastructure, limited digital literacy, and data security concerns persisted, highlighting the need for systemic improvements.
Investment activity in health-tech remained robust this year, with increased funding flows into startups offering telehealth, wearable health monitors, and AI-driven analytics solutions. These investments signalled growing confidence in the sector’s ability to scale and generate measurable impact. At the same time, mergers and acquisitions brought synergies that streamlined operations and expanded the reach of services, especially in the fragmented healthcare market, added Mohapatra.
Looking ahead, the health-tech industry is poised for accelerated growth in 2025, with government initiatives like the National Digital Health Mission offering a strong foundation. To sustain this momentum, the focus must remain on scaling innovation equitably, fostering collaborations, and building robust infrastructure. The strides of 2024 have laid the groundwork for a transformative era in Indian healthcare, with technology as its backbone, stated Mohapatra.
Vishal Goel, managing director, RX Propellant, noted that India has established itself as a global biotechnology hub. India’s skilled talent pool—comprising innovators, researchers, and healthcare professionals—continues to attract global investments, supported by initiatives such as the BioE3 Policy and PLI schemes, designed to bolster biomanufacturing capabilities.
Magesh Muthuvenkataraman, vice president, Engineering HealthTech, Ascendion noted that AI is disrupting healthcare industry in a positive manner like never before, on multiple fronts. AI helps physicians and skilled nurse practitioners to augment in administrative tasks that cause severe burnout resulting in attrition and sub-optimal patient care. The diagnosis of complex diseases with subtle symptoms has become a reality with the advent of higher compute and ability to process blobs like radiology reports, blood work, past medical history etc.
With increased usage of wearable, diseases like sleep apnoea can be detected faster and cured before it impacts the patients severely. Interoperability has provided a new meaning for 'Patient 360' which helps in effective care coordination resulting in comprehensive care. Remote patient monitoring powered by advanced analytics is fast tracking the 'hospital-at-home' which is key to reduce overall cost of care. Drug discovery is being expedited with higher compute to perform simulated-trials before going for human studies, stated Muthuvenkataraman.
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