India’s healthcare sector is expected to reach $320 billion by 2028, said a report by ‘Great Place to Work’. It added that the pharmaceutical sector is targeting to reach $130 billion by 2030, while the biotechnology sector is aiming to touch $300 billion by 2030.
The growth in the healthcare sector is driven by robust international expansion, increased industry consolidation, and the influx of investments leveraging India’s skilled workforce, the report said.
In 2024, 85% of best workplaces invested in employee development programmes, up from 73% last year. To stay ahead, firms must double down on actively cultivating career development pathways, grooming future-ready leaders, and refining their strategies to attract and retain top-tier talent, it added.
Balbir Singh, CEO of Great Place To Work, India, said that pharmaceutical, healthcare, and biotech sectors are at a turning point. “What started as a pandemic-driven sprint has transformed into a marathon of innovation, powered by a sharp increase in healthcare R&D investments. India is leading the charge, with healthcare AI investments projected to reach $1.6 billion by 2025,” he said.
In case of healthcare sector, the growth is backed by training initiatives for employees that provide access to new technologies, therapists and learning platforms as well as offering flexible work arrangements and cross-departmental mobility opportunities. For the pharma sector, the companies are doing well primarily due to skill enhancement for the workforce, continuous learning, and by implementing structured systems that enable performance-based career progression and foster innovation.
In terms of best workplaces in the these sectors, the report has recognised Alkem Laboratories, Cipla, and Max Healthcare Institute for their exceptional culture and employee satisfaction.
The report said that companies in healthcare and pharma sectors are not just focused on providing training opportunities, they also ensure that compensation remains competitive, aligned with market adjustments, and administered with full transparency. “Furthermore, these organisations are committed to establishing processes that are free from bias, upholding fairness, and promoting a culture of equity at all levels,” the report added.
