India’s healthcare sector is projected to reach US$ 320 billion (Rs. 27,28,320 crore) by 2028, according to a recent report by Great Place to Work on the pharmaceuticals, healthcare, and biotechnology industries. The pharmaceutical industry aims to grow to US$ 130 billion (Rs. 11,08,380 crore) by 2030, while biotechnology is targeting US$ 300 billion (Rs. 25,57,800 crore) within the same period.
Over the past year, these sectors have experienced significant transformation driven by international expansion, mergers and acquisitions, and increased investments in talent. Companies are harnessing India’s skilled workforce to foster innovation and align workforce goals with advancements in artificial intelligence (AI) and technology.
The report underscores a growing focus on employee development. Mr. Balbir Singh, Executive Director & CEO of Great Place to Work India, highlighted that AI investments in healthcare are projected to reach US$ 1.6 billion (Rs. 13,642 crore) by 2025, positioning India at the forefront of scientific progress and workplace innovation. 85% of employees at India’s Best Workplaces believe their organizations are exceptional, with 89% at top-ranked companies sharing the same sentiment. This year, 85% of companies invested in employee development, up from 73% the previous year.
Key challenges in pharmaceuticals, healthcare, and biotechnology include:
- Boosting productivity through AI tools
- Enhancing transparency in decision-making
- Promoting inclusive hiring practices
- Developing leadership through structured programs
Pharmaceutical companies are focusing on skill enhancement and performance-based growth, while healthcare firms are integrating technology and flexible work models. Biotech companies are prioritizing rotational training, upskilling, and personalized onboarding to promote long-term career growth.
