India's single-specialty healthcare market to triple to over $12 bn by 2030

Report points to a structural shift in India's $54 billion healthcare market as focused, asset-light providers scale alongside large hospitals

India’s single-specialty provider market will reach $12.3 billion by 2030, up from about $4.4 billion in 2025 — a 22 per cent compound annual growth rate that outpaces the broader provider sector by more than two times, according to a report by venture capital firm Bessemer Venture Partners.

 

Bessemer released Transforming Indian healthcare, one specialty at a time, a roadmap outlining how focused, single-specialty providers are emerging as the fastest-growing segment of India’s healthcare market — and creating a category-defining opportunity for entrepreneurs and investors.

 

“As this market races towards $12 billion, we expect the next generation of iconic Indian healthcare companies will be built one specialty at a time,” said Nithin Kaimal, partner, Bessemer Venture Partners, India. “The winners will be platforms that marry deep clinical expertise with the discipline to scale — expanding access while creating enduring value.”

   

The report said India’s $54 billion healthcare provider market is undergoing a structural shift. While multi-specialty hospitals remain essential for complex, multidisciplinary care, a parallel ecosystem of focused providers is scaling rapidly. These are built around repeatable protocols, concentrated clinical expertise, and asset-light expansion models.

 

Bessemer has backed this thesis through investments in pioneering chains including NephroPlus (dialysis across India, Nepal, the Philippines, and Uzbekistan), Pluro (IVF), and Sukino (continuum care).

 

The roadmap identifies a move away from capital-intensive, multi-specialty “mega-hospitals” towards purpose-built centres. These “specialty-native” platforms are winning due to higher clinical focus that leads to better outcomes and increased patient satisfaction in repeatable care segments. They also benefit from scalability through leaner, hub-and-spoke models that allow for standardised protocols and rapid replication across Tier I and Tier II cities. Other aspects include superior economics, with attractive financial profiles featuring 12–18-month payback periods and sustainable 20 per cent-plus EBITDA margins.

 

These platforms are particularly well positioned to serve high-volume, repeatable care segments such as eye care, oncology, dental, and other condition-specific verticals.

 

Most specialty segments today lack nationally recognised brands — creating a white-space opportunity for founders to establish category dominance through a proven playbook: deliver superior patient outcomes, build operational rigour, and scale through a combination of organic expansion and roll-up acquisitions of regional or city-specific clinics. These emerging leaders will become attractive IPO candidates or acquisition targets for established healthcare conglomerates.