New Delhi, Nov 26 || The Healthcare sector in India grew strongly in Q2 of FY25, with revenue increasing by 17.6 per cent year on year (YoY), according to a report.
The report by Axis Securities showed that the healthcare sector also grew strongly by 10.4 per cent in quarter on quarter (QoQ).
Hospital occupancy rates, which rose by 340 basis points (bps) YoY and 470 bps QoQ were a key driver behind the growth.
Further, insurance payers contributed 33 per cent of total revenues in the hospital segment -- marking a 23 per cent YoY and 12 per cent QoQ growth.
However, the insurance penetration continues to remain low, the report said. It also offers room for expansion as awareness and purchasing power increase.
The report noted that cancer and cardiac care continue to drive double-digit growth. This, in addition to rising occupancy rates and Average Revenue Per Occupied Bed (ARPOB), is expected to sustain future growth in the healthcare sector, it added.
The report also recorded strong growth in the Indian pharma sector in Q2 FY25.