India Surpasses Asia-Pacific in PE Deal Volumes

In a significant shift within the Asia-Pacific region, India has emerged as the largest market for private equity (PE) deal volumes, showcasing remarkable resilience amidst global deal downturns. According to Bain & Co’s Global Healthcare Private Equity Report, India accounted for an impressive 26% of the region’s total deal volume in 2024.

Healthcare Private Equity on the Rise

The healthcare sector has seen a surge in private equity investments, reaching an estimated $115 billion globally. This marks the second-highest deal value on record, with North America leading the charge, representing 65% of global deal value. Europe and Asia-Pacific follow, accounting for 22% and 12% respectively.

Investor Confidence in India

Investors have shown unwavering confidence in India, with significant investments flowing into providers, biopharma, and related services. The country's robust growth trajectory is expected to continue, with healthcare spending projected to climb to $320 billion by 2028. Successful PE exits, such as Advent International’s $1.6 billion sale of BSV Group to Mankind Pharma, have further validated India’s buyout market, making it an attractive destination for future investments.

Strategic Investments and Exits

Notable investments include Morgan Stanley’s acquisition of a minority stake in the Hyderabad Institute of Oncology, Blackstone’s strategy with Care Hospitals, and Advent’s investment in Apollo Hospital Enterprise’s digital health platform, Apollo 24|7. In the pharma services sector, focus has been on CDMOs, CMOs, and generic API / pharma manufacturers, highlighting the diverse opportunities within India’s healthcare landscape.