[ad_1]
The COVID-19 pandemic has revealed the potential for high-tech innovation in India’s healthcare sector. Entrepreneurs and technology start-ups have sought to address long-standing challenges such as limited access to quality care and inadequate infrastructure. Several digital disruptors are now playing a credible role in the healthcare ecosystem, providing solutions for telemedicine and patient-centric services, upgrading hospital management software, and increasing the efficiency of hospital supply chains and drug logistics. and support preventive medicine as lifestyle-related diseases become more prominent. This article discusses the major tech trends in the Indian healthcare sector and the emergence of healthtech startups such as Cult.fit, HealthifyMe, Pharmeasy, Innovaccer, Pristyn Care and more.
The 2020 Covid-19 outbreak has caused a long period of economic turmoil, requiring several sectors to move to digital in order to remain operational and competitive. Among those affected, the medical sector faced major challenges in managing case numbers and providing normal medical services.
As the pandemic caused lockdowns across India and restricted movement, public and service providers turned to online platforms for patient and doctor consultation, diagnostics, fitness and wellness solutions.
The aftermath has also reminded India that it needs to be self-reliant in its healthcare sector. and the dangers of import dependence for critical items such as bulk drugs (active pharmaceutical ingredients) and medical devices. We have responded through the implementation of policies and investments to
The federal government has launched a number of measures, including the Telemedicine Guidelines 2020, the Production Related Incentives (PLI) scheme for medical devices, and various sub-schemes to promote the pharmaceutical segment. Meanwhile, private companies are starting to offer innovative patient-centric products.
Healthcare Business in India: A Key Growth Driver
Changing India’s Healthcare Sector: The Rise of HealthTech
In India, the traditional healthcare journey across pharmacies, doctors (for consultation) and diagnostic centers is witnessing a paradigm shift. Factors such as automation, digitization and technology enablement have significantly changed the perception of healthcare and service expectations.
New Healthcare Technology (HealthTech) businesses such as Practo, Healthkart, 1mg, DoctorInsta and Lybrate are helping to fill a significant supply and demand gap in the healthcare sector by facilitating services such as early detection of disease, minimizing mental stress and detection. We are focused on filling the Prevent genetic abnormalities and improve consumer lifestyles.
Whereas the traditional health care system had limitations such as the lack of equitable accessibility and affordability of quality care, the new digital health care system offers convenient, accessible and low-cost services. is beginning to be offered.
These healthtech companies employ cutting-edge technology to provide quick access to the latest medical information, genetic medical history and lifestyle choices to facilitate effective and rapid treatment.
An overview of India’s HealthTech landscape
Led by players such as Pharmeasy, Reliance-backed Netmeds, Tata Group-backed 1mg, Medlife, mfine and MeddiBuddy, the Indian healthtech industry is driven by various trends. These include:
- Significant expansion of digital infrastructure
- The Emergence of Para-Telemedicine Solutions
- Use of AI integrated software
- Expanding insurance coverage for telemedicine services
- Access to one-stop healthcare solutions
- Growing consumer awareness of health
The healthtech market will be further boosted in the coming years by rising consumer technology awareness, diversifying eHealth models, technological advancements, increasing number of eHealth startups, and government support.
India’s health tech market, which was $500 million in 2010, reached a tipping point during the Covid-19 epidemic, reaching an estimated $10.6 billion market size by 2022, according to data from INC42. did.
The segment is expected to grow exponentially, reaching a market size of US$21.3 billion by 2025, capturing a 3.2% share of the global healthtech market.
According to a report by Red Seer, the gross merchandise value (GMV) of the e-health industry in India is projected to reach US$9-12 billion by 2025 and US$40 billion by 2040.
Telemedicine and online medicine: value proposition models
Investing in India’s Healthtech Industry
India’s healthtech industry has secured around $1.74 billion worth of private equity and venture capital investment in 2021, up significantly from $1.4 million in 2014. Pharmeasy, an online pharmacy and drug store, saw the highest investment inflow of around $650. It should be noted that most of these deals were concentrated in large cities. Bengaluru (Karnataka) accounted for 37.9% of all deals, followed by Delhi NCR with 23.6% and Mumbai (Maharashtra) with 21.3%. Indian health tech Other cities featured on his map are Pune (Maharashtra), Chennai (Tamil Nadu) and Hyderabad (Telangana).
Another notable trend in the Indian healthtech funding landscape is the attractiveness of business-to-business, business-to-consumer (B2B-B2C) models among investors. His HealthTech start-up in B2B-B2C business He raised US$756 million between 2014 and 2020, but B2B was still the least funded segment in India. In 2020, B2C-based health tech startups received US$194.8 million in funding, while B2B startups received only US$6.8 million.
One of the leading investors in the Indian healthtech sector is Accel Partners, which has participated in over a dozen deals investing in start-ups such as Cure.fit (now Cult.fit), PlusPin, Dailyrounds and Cure Joy. I’m here.Other notable investors include Sequoia, Matrix, Nexus, Pi Ventures and IDG Ventures India.
Indian health tech landscape
Business Models Adopted by Various Healthtech Segments
telemedicine
E-Pharmacy – Omni-Channel Strategy
Electronic pharmacy – market model
online fitness and wellness
about us
India Briefing is produced by Dezan Shira & Associates. The company supports foreign investors across Asia from offices around the world, including Delhi and Mumbai. the reader For business support in India, please contact india@dezshira.com.
Also Indonesia, Singapore, Vietnam, Philippines, Malaysia, Thailand, Italy, Germanyand in addition to US practice, Bangladesh and Russia.
[ad_2]
Source link
