India’s healthcare sector is expected to reach $320 billion by 2028, Great Place To Work said in its latest report on the pharmaceuticals, healthcare, and biotechnology sectors. The pharmaceutical sector is targeting $130 billion by 2030 and biotechnology is aiming for $300 billion by the same year, the report added.
International expansion, talent driving growth
Over the past year, the pharmaceuticals, healthcare, and biotechnology industries have gone through major transformation. Major trends observed include:
International expansion: Robust growth in exports and partnerships.
Industry consolidation: Mergers and acquisitions driving efficiency.
Investment in talent: Leveraging India’s skilled workforce to power innovation.
The Great Place To Work report also found that firms are doubling down on employee development, leadership grooming, and strategic talent retention, aligning workforce goals with technological advancements like artificial intelligence (AI).
Employee development at the forefront
Commenting on industry trends, Balbir Singh, executive director & CEO of Great Place To Work, India, said, “The pandemic accelerated innovation, but the marathon continues. With healthcare AI investments expected to hit $1.6 billion by 2025, India is not just advancing science but also creating dynamic workplaces that nurture talent.”
Singh further noted that 85 per cent of employees at India’s Best Workplaces believe their organisations are great, rising to 89 per cent among top-ranked companies. A significant 85 per cent of these workplaces also invested in employee development plans this year, compared to 73 per cent last year.
