India’s healthcare market may see threefold jump in value terms to USD 372 billion by 2022, driven by growing incidence of lifestyle diseases and rising demand for affordable healthcare delivery systems. The value of the sector in 2016 stood at USD 110 billon and will see a compounded annual growth rate (CAGR) of 22 per cent. Besides, the medical devices market in India, which was valued at USD 4 billion as of 2016, is likely to cross USD 11 billion mark by 2022 on the back of growing geriatric population, uptick in medical tourism and gradual decline in cost of medical services. Increasing expenditure on research and development (R&D), rising collaborations between Indian and foreign companies, reduction in product approval time and other such factors are driving the growth of Indian pharmaceutical market.