Uncovering Employment Dynamics: Insights into Workforce Expansion in Healthcare and Pharma Sector

India’s healthcare and pharmaceutical sector undergoes a remarkable transformation, with over 6 million in its workforce by 2024.

The sector is projected to witness a staggering expansion, with over 6.3 million additional jobs expected by 2030. This translates to a monumental workforce expansion of over 100 % in just six years and a compounded annual growth rate (CAGR) of over 12 %, with an expected investment potential of US$630 billion by the end of this decade.

Key Factors Powering Healthcare Job Surge

Demographic and lifestyle changes driving healthcare demand

India’s ageing population and rising chronic diseases necessitate more healthcare workers. Increased healthcare utilization, driven by higher disposable incomes, creates vast career opportunities for doctors, nurses, and allied health workers in hospitals, clinics, and home care sectors.

Government programs and infrastructure expanding access

Government initiatives like Ayushman Bharat and Pradhan Mantri Jan Arogya aim to expand rural healthcare and create jobs. Investments in hospitals, clinics, diagnostics centres, and technology in Tier 2 and 3 cities offer opportunities. Healthcare roles include infrastructure development, facility operations, patient care, insurance management, and support services.

Technology integration and R&D investments

Healthcare is undergoing a tech revolution with telemedicine, AI, big data, IoT, and ML. This spurs demand for tech specialists. India’s pharma hub status attracts firms offering opportunities in healthcare tech and pharma R&D.

The Focus: Skill Sets in Demand

India’s healthcare evolution necessitates specialized skills such as AI, ML, data analytics, and medical coding. Emerging roles encompass digital marketing, healthcare project management, and digital health solutions, highlighting the importance of adaptability and upskilling.

The Road Ahead

India’s healthcare industry is poised for immense growth, necessitating skilling, research, and technology integration efforts. Targeted training and partnerships are crucial for specialized roles like medical coders and AI engineers. Promoting R&D in genomics and robotics and adopting telehealth can boost access and create global employment opportunities, making India a healthcare leader by 2030.

The Economic Times published an article Uncovering Employment Dynamics: Insights into Workforce Expansion in Healthcare and Pharma Sector, penned by Balasubramanian A, VP and Business Head, TeamLease Services Limited.

Contact us to know more about such sectoral insights.

Author

Balasubramanian A
VP and Business Head
TeamLease Services Ltd

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