healthcare startups india health like sector tech

techsuch May 9, 2021 0 Comments

Health tech in IndiaThe healthcare sector in India has consistently been flourishing and is one ofits fastest-growing sectors. With the amalgamation of automation andhealthcare in India, the sector is graced to establish new landmarks. Thesense technology has facilitated the other sectors of the country liketeaching and finance, which is adequate proof for its potential to easilyimpact this sector effectively.By 2022, the healthcare market might have a worth of $ 370 billion, promisingyields up to 35-40 per cent, according to several investors. Health tech is agame-changer, although India has a lengthy way to go in using technology toextend health-related services. It is forecasted to create 40 million jobs by2030.As per Traxcn data, in 2018, India’s investments in health tech amounted to astriking $ 571 million. In April 2019, NASSCOM associated with GE Healthcareto encourage startups in the field to support digital healthcare solutions inthe region. Technologies like machine-learning, nanotech, IoT, AI, robotics,3D printing as just a few illustrations that have functions in the healthcaresector.There are about 3,225 startups in India that focus on health-tech. Some of theprominent ones are PharmEasy, CureFit, Practo, MedLife, CallHealth, etc. Themain focus of most startups is to help access to healthcare resources. This isnot a surprise because the ratio of medical specialists to patients is quiteimbalanced in the country.The health-tech startups in India fit to the broad divisions of pharmacy, homehealthcare, diagnostics, biotech, etc. Let’s pick up the pharmacy and homehealthcare sectors as cases to figure out the impact of the culmination oftechnology. Indians could save about $ 10 billion by 2025 through the adoptionof telemedicine instead of physician appointments that take place in-person.The ascent of healthcare startups in India reveals that we will shortly lookat the benefit of genomics, biotech, and robotics in hospitals and clinics toenhance the efficiency of health-related services. Artificial intelligence canidentify diseases with complete certainty while apps that track our vitals andmovements can enhance the comprehensive wellbeing of the country.Some things require to be kept in notice when we talk about what theadvancement of health-tech in India. With focus on functionality, there is acompromise of security and privacy being neglected. The digital transmissionof personal health information can be critical. Thus, the field of health-techcalls to be quaffed with bigger responsibility. Two, how reliable isautomation in the health field without accepted protocols, quality assurance,and regulation?India, despite its infrastructure and immense population, is working its bestto fight the ongoing virus through different information campaigns. ClinikHealthcare, one such health-tech startup providing 24/7 primary care throughits web of doctors, declared coronavirus care programs including INR 1 lakhinsurance cover for families affected with COVID-19 and free tele consultationchannels to the society.Care.fit, a complete healthcare platform, has introduced telemedicine as asolution to increase consumer reach to high-quality doctors across variousspecialties effortlessly and efficiently during the pandemic in the country.It has also launched Cult.live where they are providing free live classesacross fitness formats like strength, cardio, HRX, S&C, dance fitness, andyoga.Another startup, Bione has identified specific gene groups responsible for anindividual’s susceptibility to coronavirus. They have also developed aCOVID-19 centred Microbiome test, which combined with some AI, predictiveanalysis tools, can generate tailored recommendations for individuals tostrengthen their particular microbiome and thus be more immune to the virusand to fight off.The exponential success of health-tech startups in India illustrates thatIndians are keen for better healthcare and are trusting of it. Technologymight ultimately address the issues troubling the Indian healthcare industrylike nature, achieving efficient capital employment, scalability,affordability, etc. This again explains the enormous potential for health-techstartups in India, who can act as the bridge that joins the demands and needs.This blog is authored by Aryan Bharadwaj.

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