Zinnov-NASSCOM India GCC Trends – Quarterly Analysis – Health & Pharmaceuticals Vertical – Q3 2022

India’s Global Capability Centers (GCCs) are driving immense value in terms of product innovation, for their HQs, and are also acting as sandboxes for many glocal initiatives. Many Indian GCCs or GCoEs (Global Centers of Excellence) have a seat at the global table, firmly establishing their criticality in the global organization’s growth trajectory.

Currently, the Indian GCC market size is around a staggering USD 36 Bn, which continues to grow at a 10.5% CAGR. In Q3 of 2022 alone, 15 new Global Capability Centers were set up by companies including IBM and Thoughtworks. Out of these, 9 belonged to the Software & Internet vertical.

In this quarter’s update of the Zinnov-NASSCOM India GCC ecosystem, we placed our magnifying lens on the Health and Pharmaceuticals industry. Global companies, particularly American-origin ones in this space, are especially attracted to Bangalore, NCR, Mumbai, and Hyderabad – be it because of the availability of skilled talent, ease of doing business, or the dynamic support ecosystem that are established in these cities.

Post the COVID-19 pandemic, the Health and Pharmaceuticals industries were not only forced to relook at the way they functioned, but they also had to take measures to improve efficiency and meet the evolving needs and expectations of their customers. One of the prominent use cases that has emerged is Digital Health, and countries like India, that boast of adequate skilled talent pools are being scouted for setting up GCCs. Add to this the interest shown by Investors, Enterprises, and Hyperscalers, who are actively engaged or exploring potential engagements with new-age Healthcare start-ups, the Healthcare industry is undergoing a transformation. Additionally, in the past few years, Biotechnology, Medical Devices, and Therapeutics have seen a considerable increase in investments.

In this edition of the report, we also break down case studies from the prominent sub-verticals – Healthcare, Pharmaceuticals, Medical Devices, and Biotechnology. These provide a detailed view of the center set up objectives, strategies, and outcomes of companies like Siemens Healthineers, AstraZeneca, Novartis, and more.  

Some highlights from this edition of the report:

• There are 1510+ GCCs in India, as of September 2022.
• Across these, there is 1.38 Mn total installed GCC talent.
• Bangalore continues to remain the top destination for companies to set up their centers in India, with 9 new GCCs set up in Q3 of 2022.
• In Q3 2022, 15 new GCCs were set up in India.
• ~85% of the total GCCs established, are in Bangalore, Mumbai, NCR, and Hyderabad.
• 55%+ of the total Healthcare & Pharmaceutical GCCs in India are US-headquartered.

Here are some other themes that we cover in this edition of the GCC Trends – Quarterly Analysis Q3 2022:

• Details of all the GCCs established in India during the 3^rd quarter of this year
• Centers that have expanded within the country
• Location and vertical-wise mapping of the new GCCs established in India in Q3 2022
• Key themes driving India’s leadership in the GCC ecosystem
• Insights on the rise and decline of the preference for Tier-II Indian cities for the setting up of GCCs
• The key themes that are driving India’s leadership in the GCC ecosystem

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