Top 10 Best Healthcare Companies in India 2023

The healthcare industry in India is one of the fastest-growing sectors in the country, with a significant increase in healthcare expenditure and infrastructure development in recent years. The market size of the Indian healthcare industry is expected to reach $80 billion by 2025, a tremendous growth rate of 25% from 2020 to 2025. 

Several healthcare companies have emerged as prominent players in the Indian healthcare market. The top 10 healthcare companies in India are expected to shape the industry’s future significantly. 

Apollo Hospitals Enterprise Limited is a company that has established itself as a leading player in the Indian healthcare industry. It is India’s largest healthcare provider, offering services across the healthcare spectrum, including primary care, diagnostics, and secondary and tertiary care. 

Fortis Healthcare Limited is another leading player in the industry, with a presence across India, Dubai, and Mauritius, offering a range of medical and surgical specialities.

What Are the Services and Products Provided by Healthcare Companies?

India’s top 10 healthcare companies offer various services and products across the healthcare spectrum, including hospital care, diagnostics, medical devices, and pharmaceuticals. 

Which Are the Top 10 Healthcare Companies in India?

The Top 10 Healthcare Companies in India Are:

1. Apollo Hospital

2. Fortis Healthcare Limited

3. Narayana Health Limited

4. Hinduja Healthcare

5. Manipal Hospitals 

6. Dr Lal Pathslabs Limited 

7. Thyrocare Technologies Limited

8. HealthCare Global Enterprises Ltd.

9. Metropolis Healthcare Ltd.

10. Indraprastha Medical Corporation Ltd.

The COVID-19 pandemic has significantly impacted the healthcare industry in India, highlighting the urgent need for high-quality healthcare services and accelerating the adoption of digital healthcare solutions. 

This crisis has further emphasised the importance of increased investment in healthcare infrastructure and digital healthcare solutions to improve the accessibility and affordability of healthcare services in the country. 

As such, the top 10 healthcare companies in India are expected to play a crucial role in driving the growth of the Indian healthcare market in 2023 and beyond by providing innovative healthcare solutions and services that meet the evolving needs of patients and healthcare providers. Let’s discuss these Top 10 Healthcare companies in brief.

1. Apollo Hospital

Apollo Hospitals Enterprise Limited, one of the top healthcare companies in India, was established in 1983 by Dr Prathap C. Reddy. With a strong focus on providing high-quality healthcare services, the company has become a leading player in the Indian healthcare industry.

As of 2022, Apollo Hospitals has over 65,000 employees, making it one of the largest healthcare providers in India. The company reported a total revenue of $1.8 billion in the same year.

Apollo Hospitals offers various healthcare services, including primary care, diagnostics, and secondary and tertiary care. The company operates a network of hospitals and clinics across India and offers telemedicine services. 

2. Fortis Healthcare Limited

Fortis Healthcare Limited is one of India’s most prominent healthcare companies, focusing on providing high-quality healthcare services to patients. The company was established in 2001 and has become a leading player in the Indian healthcare industry.

As of 2022, Fortis Healthcare has over 25,000 employees, making it one of the largest healthcare providers in India. The company reported a total revenue of $25 billion in the same year.

Fortis Healthcare offers a range of medical and surgical specialities across India, Dubai, and Mauritius. Its services include hospital care, diagnostics, and daycare surgeries.

3. Narayana Health Limited

Narayana Health Limited is a leading healthcare company in India established in 2000 by Dr Devi Shetty. The company has grown significantly and is now recognised as one of India’s top 10 healthcare companies.

As of 2022, Narayana Health has over 12,500 employees and operates a network of hospitals and clinics across India. The company reported a total revenue of $350 million in the same year.

Narayana Health offers various healthcare services, including hospital care, diagnostics, and primary care. The company specialises in cardiac surgeries, neurosciences, oncology, and orthopaedics.

4. Hinduja Healthcare

Hinduja Healthcare is one of India’s most renowned healthcare companies, established in 2015. The company is a subsidiary of the Hinduja Group, a global conglomerate interested in healthcare, energy, and finance.

As of 2022, Hinduja Healthcare has over 700 employees and operates a state-of-the-art hospital in Mumbai, India. The company reported a total revenue of $36 million in the same year.

Hinduja Healthcare provides various healthcare services, including hospital care, diagnostics, and primary care. The company specialises in cardiology, neurology, oncology, and orthopaedics.

5. Manipal Hospitals

Manipal Hospitals, India’s most prominent healthcare company, was established in 1953 by Dr T.M.A. Pai. The company is part of the Manipal Education and Medical Group and is recognised as one of India’s top 10 healthcare companies.

As of 2022, Manipal Hospitals has over 8,000 employees and operates a network of hospitals and clinics across India, including in major cities such as Bangalore, Delhi, and Mumbai. The company reported a total revenue of $500 million In the same year.

Manipal Hospitals provides various healthcare services, including hospital care, diagnostics, and primary care. The company specialises in neurology, oncology, and orthopaedics.

6. Dr Lal Pathslabs Limited

Dr Lal PathLabs Limited is a leading healthcare company in India established in 1949 by Dr S.K. Lal. The company is headquartered in Delhi and is recognised as one of India’s top 10 healthcare companies.

As of 2022, Dr Lal PathLabs has over 5,500 employees and operates a network of over 200 clinical laboratories across India, providing diagnostic services to patients. The company reported a total revenue of $370 million in the same year.

Dr Lal PathLabs offers various diagnostic services, including pathology, microbiology, and radiology. The company specialises in cardiology, neurology, and oncology.

7. Thyrocare Technologies Limited

Thyrocare Technologies Limited is a prominent healthcare company in India founded in 1995 by Dr A. Velumani. The company is based in Mumbai and is recognised as one of India’s top 10 healthcare companies.

As of 2022, Thyrocare Technologies has over 3,000 employees and operates a network of diagnostic laboratories across India, providing patient services. The company reported a total revenue of $77 million in the same year.

Thyrocare Technologies provides various diagnostic services, including pathology, radiology, and preventive healthcare.

8. Healthcare Global Enterprises Ltd.

HealthCare Global Enterprises Ltd. (HCG) is a leading healthcare company in India established in 2001 by Dr B.S. Ajaikumar. The company is based in Bangalore and is recognised as one of India’s top 10 healthcare companies.

As of 2022, HCG has over 4,000 employees and operates a network of 23 comprehensive cancer centres and hospitals across India. The company reported a total revenue of $70 million in the same year. HCG provides a wide range of healthcare services, focusing on cancer care.

9. Metropolis Healthcare Ltd.

Metropolis Healthcare Ltd. is one of India’s most prominent healthcare companies, established in 1980. The company is based in Mumbai and has established itself as one of India’s top 10 healthcare companies.

As of 2022, Metropolis Healthcare has over 5,000 employees and operates a network of over 124 clinical laboratories and 2,400 collection centres across India, Sri Lanka, Kenya, and other countries. The company reported a total revenue of $150 million in the same year.

Metropolis Healthcare provides a wide range of healthcare services, including diagnostic services and pathology services.

10. Indraprastha Medical Corporation Ltd.

IMCL is a leading healthcare company in India that was established in 1984. With its headquarters in New Delhi, IMCL has become one of India’s top 10 healthcare companies. The company employs over 3,500 people and has a nationwide network of hospitals, diagnostic centres, and pharmacies.

In 2021-2022, IMCL recorded a total revenue of $40 million. This is a testament to the company’s strong market presence and commitment to delivering high-quality healthcare services to its patients.

It offers various healthcare services, including primary, secondary, tertiary, and quaternary care. The company operates several hospitals in Delhi, including the Indraprastha Apollo Hospitals, one of the country’s largest private hospitals.

Faqs

1. How Do Top Healthcare Companies Contribute to the Growth and Development of the Indian Healthcare Industry?

The leading healthcare companies are instrumental in driving the growth and progress of the healthcare industry by offering advanced and top-notch healthcare services and products that cater to the changing healthcare demands of the Indian populace.

2. What is the Future Outlook for the Indian Healthcare Industry, and How Are Top Healthcare Companies Poised to Contribute to Its Growth and Development?

The top 10 healthcare companies in India are instrumental in driving the growth and progress of the Indian healthcare industry. 

With a predicted CAGR of 25% from 2020 to 2025, these companies are expected to invest significantly in healthcare infrastructure and adopt new technologies to deliver innovative and high-quality healthcare solutions to the Indian population. 

3. How Are Healthcare Companies Adapting to the Changing Healthcare Needs of the Indian Population?

The top healthcare companies in India are dedicated to meeting the evolving healthcare needs of the population by continually innovating and adopting new technologies. They invest in healthcare infrastructure, develop advanced diagnostic tests, and provide cutting-edge telemedicine and remote patient monitoring services.

4. Which Are the Top 5 Healthcare Companies in India?

The Top 5 Healthcare Companies in India Are

1. Apollo Hospital
2. Fortis Healthcare Limited
3. Narayana Health Limited
4. Hinduja Healthcare
5. Manipal Hospitals 

5. What is the Impact of the Covid-19 Pandemic on the Indian Healthcare Industry, and How Are Top Companies Addressing the Challenges Posed by the Pandemic?

The COVID-19 pandemic has underscored the importance of increased investment in healthcare infrastructure and digital healthcare solutions to enhance the accessibility and affordability of healthcare services in India. The top healthcare companies in India have responded to these challenges by expediting the adoption of digital healthcare solutions and investing in healthcare infrastructure. 

Conclusion

The healthcare industry in India is witnessing robust growth, with an estimated CAGR of 22.87% projected from 2020 to 2023. In this industry, the top 10 healthcare companies in India are playing a crucial role in driving the growth and development of the industry. 

These companies offer a diverse range of products and services, including hospital and clinical services, healthcare technology solutions, and diagnostic tests, catering to the ever-evolving healthcare needs of the Indian populace. 

With the Indian healthcare market poised for further expansion and advancement shortly, these top 10 healthcare companies in India are well-placed to continue making significant contributions towards the industry’s progress.