A global health emergency like the coronavirus always shines a big spotlight on the healthcare industry, with every stakeholder fighting from the frontline. The pandemic has been called a structural shift for digital healthcare in many countries, including in India. Many have said that this is the time for India to reboot healthcare and support healthtech startups in closing the gaps in the traditional healthcare system.
With the telemedicine guidelines now in place and mandatory health insurance for workers, technology is well-placed to redefine healthcare infrastructure in India. Within two months, India transformed from importing PPE kits to the second-largest producer in the world.
In the new normal, India is poised to witness more such significant advancements in the traditional healthcare system. The development in Indian healthcare infrastructure will be led by homegrown healthtech startups, with telemedicine and online pharmacies leading the current wave of startups. Together, the Indian healthtech market will contribute $21 Bn by 2025, which is still only 3.3% of the total addressable healthcare market which is pegged to reach $638 Bn in 2025. This indicates that the room for growth is pretty high and healthtech has a massive opportunity here.
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Source: inc42
