Top Healthcare Companies in India Based on Market Capitalisation

Home » Personal Finance » Top Healthcare Companies in India Based on Market Capitalisation

There are multiple health providers and healthcare companies in India, serving the care needs of the nation. But, have you wondered, among these thousands, which are the top healthcare companies in India? What about the best healthcare brand in India and India’s biggest hospital?

Let us take a look at these!

Healthcare Companies in India

The Indian healthcare market was worth $110 billion in 2016. According to reports, experts expect it to reach $638 billion by 2025. This rapid growth comes from more public and private investments, which are improving coverage and services. In the Interim Union Budget 2024-25, the government announced the allocation of INR. 87,656.90 Cr. crores to the Ministry of Health and Family Welfare. Thus, this certainly proves the importance of healthcare services for the nation.

Have you ever thought of investing in healthcare stocks in India? 

To do this, you would certainly benefit from the list of top 10 healthcare companies in India.

Top Healthcare Companies in India Based on Market Capitalisation

We have curated a list of the ten biggest healthcare companies in India, measured by their market capitalisation.

Do you know?

Market capitalization represents the total value of a company’s shares of stock. It represents how much the company is worth in the stock market.

These top healthcare companies in India by their total market value, show which ones are the most valuable in the Indian stock market.

Top 10 Healthcare Companies in India| Key Players in India’s Healthcare System

India’s healthcare delivery system comprises the public and private sectors.

The public sector focuses on providing basic healthcare through Primary Healthcare Centers (PHCs) in rural areas.

On the flipside, the private sector dominates secondary, tertiary, and quaternary care with a strong presence in urban centers.

Below shared is the list of top healthcare companies in India, as per the data shared by the, as of May 14th, 2024.

Top 10 Healthcare Companies in India Based on Market Cap

S.No.NameMar Cap Rs.Cr.
1Apollo Hospitals84284.28
2Max Healthcare79259.37
3Global Health (Medanta)38147.27
4Fortis Health.33667.33
5Narayana Hrudaya25541.09
6Dr Lal Pathlabs20711.91
7Aster DM Health.17355.32
8Poly Medicure (Polymed)16113.41
9Krishna Institute. (KIMS Hospitals)15601.06
10Rainbow Child.13894.55
Top 10 Healthcare Companies in India Based on Market Cap

Let us understand what makes these companies reach the list of the top 10 healthcare companies in India!

Top 10 Healthcare Companies in India| An Overview

Apollo Hospitals 

Established in 1983 by Dr Prathap C Reddy, Apollo Hospitals leads India’s private healthcare revolution. Thus becoming Asia’s leading integrated healthcare provider and the best healthcare brand in India.

Leveraging technology, Apollo offers telemedicine, health insurance, and global consultancy, serving over 150 million individuals from 140 countries.

Apollo leads efforts in preventive healthcare, shown through initiatives like the “Billion Hearts Beating Foundation” and projects like SACHi and SAHI.

• Apollo Hospitals founded the Billion Hearts Beating Foundation, which focuses on providing healthcare and health awareness in India.

SACHi– Saving A Child’s Heart initiative.

• SAHI-  Society to Aid the Hearing Impaired 

Facts & Figures:

  • Hospitals: 73
  • Beds: 10,000+
  • Pharmacies: 5,000+
  • Primary Care Clinics: 378+
  • Diagnostic Centres: 1,500+
  • Telemedicine Centres: 200
  • Medical Education Centres and Research Foundation: 15+

Max Healthcare 

Max Healthcare Institute Limited (Max Healthcare) stands at the 2nd position on the list of top 10 healthcare brands in India. With a vast network spanning NCR Delhi, Haryana, Punjab, Uttarakhand, and Maharashtra, it houses over 5,000 clinicians and employs 20,000 staff members.

Predominantly situated in Metro/Tier 1 cities, approximately 85% of its bed capacity serves urban areas.

In addition to hospitals, Max Healthcare extends its services through Max@Home, and Max Lab.

Key Highlights:

  • Facilities: 19
  • Bed Capacity: 4,000+
  • Clinicians: 5,000+
  • Employees: 20,000+

Global Health

Medanta, one of the top healthcare companies in India and India’s largest multi-speciality tertiary care provider, was established by Dr. Naresh Trehan. He is a globally acclaimed cardiovascular and cardiothoracic surgeon who set up with the aim of offering advanced yet affordable medical services to patients. 

Medanta Gurugram secured the title of the best private hospital in India for four consecutive years from 2020 to 2023. 

Its locations include:

  • Medanta Gurugram
  • Medanta Lucknow
  • Medanta Patna
  • Medanta Indore
  • Medanta Ranchi
  • Medanta Mediclinics

Furthermore, it earned recognition in Newsweek’s list of the top 250 global hospitals in 2023.

Fortis Healthcare 

Fortis Healthcare Limited, affiliated with IHH Healthcare Berhad, stands as a premier provider among the list of top 10 healthcare companies in India.

Listed on both the BSE Ltd and NSE of India, Fortis collaborates with its global partner, IHH, to ensure world-class patient care and clinical prowess.

Fortis offers a comprehensive range of healthcare solutions, from basic clinics to advanced quaternary care facilities.

Key Facilities

  • Hospitals: 4 JCI & 26 NABH-accredited hospitals
  • Healthcare Facilities: 28
  • Operational Beds: 4,500+
  • Healthcare Professionals: 12,500+

Narayana Hrudaya

Narayana Health ranked as the 5th best healthcare brand in India has evolved from seeds of compassion, marked by several milestones:

In 2023, became the first hospital in South India and the fourth in India to receive the prestigious CAP accreditation for Laboratory services.

It has secured a Guinness World Record for conducting the highest number of ECGs in a single day at a single venue.

Dr. Lal PathLabs

With a vision to be the most trusted healthcare partner, enabling healthier lives, this 4th largest healthcare company in India aims to achieve market leadership.

Established in 1949 by Late Dr. Major S.K. Lal, the company began as a provider of pathology services and blood bank maintenance, expanding its services and network over the years.

Key Highlights

  • Labs: 250+
  • Patient Service Centres: 4,500+
  • Total No. of Customers: 25mn
  • Total No. of Tests and Panels: 5,000+
  • Pick-up Points: 10,000+

Aster Hospitals 

Established in 1987, Aster DM Healthcare has grown into a global network of healthcare facilities. From humble beginnings as Al Rafa Poly Clinic in Bur Dubai, it has expanded into multi-speciality hospitals and clinics across multiple countries.

From its corporate headquarters in Dubai, it manages a diverse portfolio of hospitals, clinics, and research centres, aiming to improve healthcare accessibility and quality worldwide.

Poly Medicure

With a legacy spanning over two decades, Polymed serves millions of patients daily, holding the prestigious title of the Largest Exporter of Medical Devices from India for six consecutive years. It operates from 8 cutting-edge manufacturing facilities globally, including 5 in India and 3 overseas.

Krishna Institute. (KIMS Hospital)

They are among India’s largest corporate healthcare groups, managing 12 multi-specialty hospitals branded as “KIMS Hospitals” in Telangana, Andhra Pradesh, and Maharashtra.

With a total capacity exceeding 4,000 beds, they offer extensive healthcare services spanning 25 specialities, such as cardiac sciences, oncology, and organ transplantation.

The recent expansions of this  expansions include acquisitions in Ongole, Vizag, Anantapur, Kurnool, Sunshine Hospitals, and Kingsway Hospitals in Nagpur.

Rainbow Child

Rainbow Children’s Hospital, founded by Dr. Ramesh Kancharla and consultant colleagues, leads India’s pediatric, obstetrics, and gynaecology care sector.

Beginning with 50 beds, it now spans 19 hospitals in 6 cities with over 1900 beds. Boasting a team of 700+ doctors, the hospital has facilitated over 15,000 deliveries and treated 1.25 million satisfied patients.

With a focus on specialised care for children, Rainbow Children’s Hospital blends advanced technology, clinical excellence, and compassion.

Government Initiatives Boosting Top Healthcare Companies in India

The Indian government has launched several initiatives to promote the healthcare sector in India.

These include:

  • PoshanAbhiyan: A scheme to equip Anganwadi Centres with Smartphones and Growth Monitoring Devices.
  • Expansion of AIIMS: In February 2024, there was an inaugural of five new AIIMS across various states:
  1. Rajkot (Gujarat)
  2. Bathinda (Punjab)
  3. Raebareli (Uttar Pradesh)
  4. Kalyani (West Bengal)
  5. Mangalagiri (Andhra Pradesh)
  • International Collaborations: MoUs with Ecuador and the Netherlands to improve medical product regulation.

Promoting Medical Tourism and Infrastructure

  • The government promotes medical tourism by extending the e-medical visa facility to citizens of 156 countries.
  • In May 2022, the government approved grants for five new medical colleges in Gujarat, each receiving Rs. 190 crore.

Future Prospects and Growth

India’s healthcare sector offers vast opportunities across various segments, including medical technology and diagnostic services.

The government’s push for greater health insurance coverage increases healthcare spending, a trend that is likely to continue.

Factors to Consider Before Investing in the Top Healthcare Companies In India

When thinking about investing in top healthcare companies in India, it’s important to consider:

  1. Market trends: See how the healthcare sector is growing and where these companies fit in.
  2. Financial health: It is a must to keep a check on the healthcare brands’ yearly or quarterly results. 
  3. Innovation and technology: Look at how much they spend on research and development to stay competitive.
  4. Management and Leadership: You know strong leaders are key to success. Thus, it is important to have basic knowledge about the management leading the brands.

Should You Invest in Top Healthcare Stocks in India

Whether you should invest in top healthcare stocks in India depends mainly on your investment goals, how much risk you’re comfortable with, and the research you’ve done on those factors. Healthcare is growing in India, but like any investment, it has risks and should be part of a mix of investments.

FAQs| Top Healthcare Companies in India

What is the best healthcare brand in India?

Apollo Hospitals, with a market capitalisation of Rs. 84,284.28 Crore as of May 14th, 2024. is the best healthcare brand in India.

Which is the best healthcare company in India?

The best healthcare company in India is Apollo Hospitals, having the highest market capitalisation of Rs. 84,284.28 Crore as of May 14th, 2024.

What is India’s biggest hospital?

Apollo Hospitals is leading with a market capitalisation of Rs. 84,284.28 Crore as of May 14th, 2024.

Who is the top medicine company in India?

The top medicine company in India is Apollo Hospitals, which holds the position based on its market capitalisation of Rs. 84,284.28 Crore.


Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.