A widening gap between the needs of care seekers and traditional healthcare services has emerged as a major challenge
Advanced technologies not only bring opportunities to healthcare providers and suppliers but also empower patients
Indian startups today are leveraging these technologies to create locally relevant and novel digital solutions that address healthcare challenges
Technology is dramatically transforming the healthcare system, resulting in fast-paced innovations and advancements; startup ecosystem being the driving before behind this rapid change. While there have been numerous revolutionary changes in healthcare technology over the few years, there has also been a major spike in the role startups play within the healthcare system. These emerging organisations are ambitious, flexible and lean; continuously striving to shape the industry on a global scale moving forward.
The Need Of Startups
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A widening gap between the needs of care seekers and traditional healthcare services has emerged as a major challenge. It adds to the unaffordability and inaccessibility of healthcare. All the factors have collectively contributed towards the growing healthcare startup ecosystem and motivated them to innovate.
Further, these startups not only help patients’ gain access to quality healthcare but also create job opportunities. The sector will create 40 Mn jobs by 2030, according to Invest India. With a conducive environment available for startups in India, they will continue to generate more employment opportunities and solve existing challenges facing the healthcare system.
Technology Pioneering Transformation
Advanced technologies not only bring opportunities to healthcare providers and suppliers but also empower patients. Healthcare startups are using personalisation to their advantage and upgrade preventive models and treatment to satisfy patients’ needs. Artificial Intelligence, Augmented Reality (AR) and Virtual Reality (VR), Robotics and 3D Printing are some key technologies being used in the healthcare space.
Indian startups today are leveraging these technologies to create locally relevant and novel digital solutions that address healthcare challenges. As a result, these startups have become integral to the healthcare system. In 2018, the investment in Indian healthtech amounted to a striking $ 571 million, according to Traxcn data. Further, there are about 3,225 healthtech startups in India, according to Invest India.
Source: Inc42
