How is India Dominating Asia-Pacific's Healthcare PE Market?
Synopsis
India has emerged as the leading market in the Asia-Pacific region for healthcare private equity, accounting for 26% of deal volume in 2024. With a record global deal value of $191 billion in 2025, the shift in buyout activity towards India highlights its robust market fundamentals. What does this mean for the future of healthcare investments?
Key Takeaways
India is the largest PE market in Asia-Pacific by volume.
Healthcare PE deal value reached a record $191 billion globally.
Investment focus areas include provider and biopharma services.
Healthcare buyout volumes in India dropped 18% year-on-year.
Strong investor confidence is evident despite market challenges.
According to a report released on Thursday, India represented 26 percent of the healthcare private equity (PE) deal volume in the Asia-Pacific region for 2024, establishing itself as the leading PE market by volume. The analysis from Bain & Company highlights that global healthcare PE deal value reached a historic $191 billion in 2025.
The report indicates that India has overtaken as the largest market in the region by volume, with buyout activities transitioning from China to countries like India, Japan, and South Korea, attributed to their favorable macroeconomic conditions.
Nirad Jain, a partner at Bain & Company and co-leader of its Healthcare Private Equity team, expressed optimism, stating, “Investor confidence in market fundamentals remained strong despite challenges faced last spring.”
Investment trends in India have primarily focused on provider and related services, as well as biopharma sectors. Within the provider domain, there has been significant interest in hospitals, clinics, and ancillary services.
Interestingly, healthcare buyout volumes in India saw an 18 percent decline year-on-year in 2024, contrasting with a nearly 49 percent drop across the entire Asia-Pacific region.
The biopharma deal value surged to an estimated $80 billion in 2025, rising from $55 billion in 2024 globally, with expectations for deal volume to climb nearly 20 percent, surpassing 130 deals, according to the report.
Furthermore, deal value in Asia-Pacific achieved a new record in 2025, exceeding the previous high from 2021 by over 30 percent, despite a slowdown observed in the second quarter.
The biopharma and provider segments continue to be the primary drivers of the region’s healthcare PE market, although MedTech and healthcare IT sectors also witnessed growth.
As the global healthcare PE sets a new benchmark, the increase in deal value has been significantly influenced by a rise in transactions exceeding $1 billion, counterbalancing the tariff-related slowdowns experienced in North America and Asia-Pacific during the second quarter.
Deal volume remained strong, with 445 buyouts announced, marking the second-highest on record.
Global growth has been bolstered by consistent activity in Europe and a recovery in both North America and Asia-Pacific following the second-quarter tariff-related pullbacks.
Point of View
I believe that India's position as a leading healthcare PE market in the Asia-Pacific region showcases its resilience and potential. The shift of buyout activities from China to India signifies a new era in healthcare investments that must be closely monitored. This trend not only reflects India's strong macroeconomic fundamentals but also highlights the confidence investors have in the Indian healthcare sector.
NationPress
20 Jun 2026
Frequently Asked Questions
What percentage of Asia-Pacific healthcare PE deal volume did India account for in 2024?
India accounted for 26 percent of the Asia-Pacific healthcare private equity deal volume in 2024.
What was the global healthcare PE deal value in 2025?
The global healthcare private equity deal value hit a record $191 billion in 2025.
How did India's healthcare buyout volumes change in 2024?
Healthcare buyout volumes in India fell 18 percent year-on-year in 2024.
What sectors are attracting investment in India?
Investment activity in India has been focused on provider services , biopharma, hospitals, and clinics.
What trends are driving deal value in Asia-Pacific?
The surge in deal values was driven by a significant increase in transactions exceeding $1 billion .
