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Top Healthcare Stocks in India To Buy in 2024

Top Healthcare Stocks in India To Buy in 2024

Top Healthcare Stocks in India To Buy in 2024

In 1995, the per capita income of India was at $ 500 while in 2023 it reached at $ 2500 and is estimated to reach the $500 level by 2030. As they say health is wealth and that is why we are here today to discuss about the best health care stocks in India to invest with the rise in the purchasing power of the Indian people.


The medical science worldwide has come a long way and has played an integral role in increasing the life expectancy among humans in the last century.  Post the influenza pandemic in 1918, modern medicine and health science has taken huge strides, and the health sector has emerged as a huge industry in itself.

 

Overview of the Indian Healthcare Sector


The Indian healthcare industry is booming with a projected value of USD 638 billion in 2025 which is a significant growth from USD 110 billion in 2016.  In terms of employment, the Indian healthcare sector employs a total of 7.5 million people. Indian healthcare system can be categorized in broadly two sector- public and private. Indian healthcare is world-class yet the cheapest in the world. 


The government carries out several affordable health schemes for the people such as National Health Mission, Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), PM National Dialysis Program, National Medical Commission and others. The Indian government set aside ₹90,659 crore (US$10.93 billion) for the Ministry of Health and Family Welfare (MoHFW) in the temporary budget for the 2024-2025 fiscal year. 

 

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Things to keep in mind before investing in Health Stocks


Although healthcare is a booming sector, yet there are some of the things which you should keep in mind before investing in these stocks which are:

  1. Digitization: The world is racing towards the digitization and the medical sector is no different. Many digitized medical services are being provided by these companies such as e-pharmacy, e-consultancy, health apps, telemedicine and many more. Therefore, make sure that the company you are investing in provides these services.
  2. Economic Considerations: Before investing in the healthcare sector, assess the economic condition of the country such as GDP, inflation, employment conditions. It’s because the stronger the economy will be, the better will be the government's spending in the sector.
  3. Follow the trends of the sector: It is important to stay up to date with the trends of the healthcare sector so that you make right choices while investing. Such changes or trends can be anything from customer preferences, technological advancements to new treatments.

 

 

Top Healthcare Stocks in India 2024

Here are some of the top stocks of the health stocks where you can invest in 2024 and grow your investments multifold:

Before investing in these stocks, investors must know important ratio in stock market.

 

 

 

1). Apollo Hospitals Enterprise Limited

 

Apollo Hospitals is among the leading and reputed healthcare brands in the country. It was established in the year 1983 and since then it indulges in providing healthcare, pharma and wellness services to the public. 

The company can be categorized in several different segments such as healthcare services, pharmacy retailing, retail health services, diagnostics and others. While the healthcare services take care of the hospitals and related services its pharmacy retailing services looks after the procurement and distribution of FMCG and pharmaceuticals through its retail stores. 

Spanning across hospitals, pharmacies, diagnostics centers, clinics, and education facilities, Apollo Hospitals Enterprise boasts a massive healthcare network. With over 10,000 beds, 5,000 pharmacies, 1,500 diagnostics centers, and 378 primary care clinics, they provide comprehensive care. They even go beyond borders, operating medical facilities in Bangladesh, Mauritius, and the UK. Additionally, they offer telemedicine services through their 200 centers.

 

 

2). Max Healthcare Institute Limited

 

Max Healthcare Institute is another prominent name in the Indian healthcare industry. The company is mainly a chain of hospitals with its primary hospital located in Delhi. It has presence across India in NCR, Punjab, Uttarakhand, Delhi and Mumbai with its 16 hospitals.

 Max Healthcare has seen its profits soar by an impressive 115% on average each year for the past five years, proving their dedication to delivering exceptional service. They've strategically placed most of their hospitals (around 85%) in major cities, allowing them to effectively serve the healthcare needs of urban areas.

 


3). Fortis Healthcare Limited

 

Fortis is one of the most prestigious healthcare chains of India with around 28 healthcare facilities, and over 400 diagnostics centers across the country with more than 4,500 beds which are operational. It provides an array of healthcare services ranging from clinics to quaternary care facilities and ancillary services. The company has its multi-specialty and super-specialty hospitals spread across the country in Karnataka, Delhi, West Bengal, Punjab, Haryana, Rajasthan, Uttar Pradesh, and Maharashtra. It also has its presence outside India in countries like Sri Lanka and UAE.

 

 

4). Narayana Hrudayalaya Limited

 

Narayana Hrudalaya Ltd is committed to offering affordable healthcare services across India and even has a presence overseas in the Cayman Islands. Their network of the company consists of 18 multispecialty and super specialty hospitals with 3 heart centers, and over 5,600 operational beds with a capacity to expand to 6,040. 

The company is committed to expanding their business by planning to add over 700 beds in Bangalore and investing up to Rs. 1,000 crores to build a super specialty hospital in West Bengal.

 

 

5). Global Health Limited (Medanta):

Global Health Limited is one of the big players in the private multi-specialty tertiary care providers in North and East regions of India. The company's core competency lies in the areas of cardiology and cardiac sciences along with neurosciences, oncology, digestive and hepatobiliary sciences, orthopedics, liver transplant, and kidney and urology. 

They provide healthcare services in 30+ medical specialties with over 1300 onboard in their company. In addition to their hospitals, Medanta operates multi-specialty clinics in several locations including DLF Cybercity Gurugram, Delhi Airport, south Delhi, Darbhanga, Patna, and Subhash Chowk Gurugram. 
They have also entered into a partnership with DLF to construct a 400-bed super-specialty hospital in south Delhi. This joint venture will be a 50/50 split, with Medanta managing the hospital and DLF acting as a strategic investor.

 

 

6). Aster DM Healthcare Limited

 

Aster DM is a prominent name in the healthcare industry with diverse businesses in the healthcare sector including hospitals, retail pharmacies, healthcare clinics and other services. The hospital sector of their business comprises with of multiple hospitals with in-house pharmacies, while in their clinics sectors, they have various clinics across the country with in-build pharmacies. 

The company operates in three main areas: clinics with on-site pharmacies, standalone retail pharmacies with optical shops, and healthcare consulting services.  Aster DM Healthcare has a robust international presence also with 455 facilities in the UAE and operations in multiple countries. The company focuses on providing quality healthcare services and patient-centric care which is the USP of their business.

 


 
7). Dr. Lal PathLabs Limited:

Since its inception in 2011, Dr Lal PathLabs has taken major strides in the Indian healthcare industry and has emerged as the one of the leading players in this industry in a short span of time. 

The company's commitment to providing premier diagnostic services and its patient-centric approach has made it such a popular name in such a short span of time. The company has garnered a market capitalization of 10.8 crores and has also shown a commendable sales growth of 13% in the last five years which makes it one of the hottest investible companies in the Indian healthcare sector.
 

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