Throughout human evolution, from Stone Age innovations to the present day when so much is automated, technology has come a long way thanks to the creative minds of global citizens. Technology has grown much more rapidly in the 21st century than at any other time. This growth has happened across all sectors, including education, agriculture, services, e-commerce, and healthcare.
India is one of the most rapidly developing nations, in terms of the overall economy and expansion of technology. With the current start-up culture, India is moving forward quickly and particularly within the medical and healthcare sectors.
New businesses become successful in the long run if they adapt, learn and evolve along with new technology. In India, some of the best examples of this are in the healthcare sector. According to data provided by Traxcn, in 2018 there was about $571 million invested in the healthcare sector alone in India.
Later, in April 2019, NASSCOM linked up with GE Healthcare to support start-ups related to the sector, with the development of various technologies like machine-learning, nanotech, IoT, AI, robotics, 3D printing, and much more.
Technologies that are being used
Diagnostic and treatment-related devices
Evolving technology gave us new devices to diagnose, investigate, and treat patients with several different health issues. Although this sector was previously mostly used for research and development, we now have various devices that are directly making things easier for patients and doctors.
In addition, this evolving technology is equipped with IoT, AI, machine learning, automation, and more. As well as helping patients on the front line, these devices also help to discover various lifestyle ailments earlier. People can use daily wearables to track activity, which helps with overall health as well as providing indicators of potential future problems.
Automation in the medical sector is helping to prevent any misinterpretation of data or untimely treatments. The automation here is being used on a widespread basis in various fields. From maintaining records in soft copies while making the record-keeping efficient, to eliminating any issues pertaining to quality of treatment, automation in the healthcare sector is a huge benefit.
Up to now, people had to travel to consult doctors over even small health issues, which could be difficult if they don’t have the finances and means to make the journey. Now, various companies are coming up with apps which will let patients share data with doctors remotely. It’s estimated that telemedicine could help people across the country save $10 billion in total over the next five years simply by reducing the need for face-to-face consultations.
Doctors and patients are able to see all the details related to treatment in one digital place that can be managed and edited by the doctor. For any kind of doubt, a patient can directly raise a concern and the doctor will help them. Moreover, now with AI and IoT, these apps have the tendency to learn the patterns and adjust medicine dosages accordingly.
We have seen many rising e-commerce giants in this decade, but they did have certain products that they were not supposed to sell. The medical sector again saw a win here and we now have several medicine delivery apps where you can upload your prescription and have them delivered to your location. Apart from healthcare products being easily delivered in various locations, we now also have services like home medical tests.
As of now, the healthcare sector in India is worth about $100 billion, and reports suggest it will grow very rapidly. The number of start-ups we are now seeing in the healthcare sector will contribute to this growth. Some of the promising and growing start-ups in India are listed below.
An online medicine delivery app that serves about 19,000 pin codes across India and has 14 logistic centers around the country. Users can order your medicines by uploading their prescription and the tablets which will be delivered at a desired time. Back in the year 2018, Netmeds had about 3 million downloads and e-pharmacies are expected to grow about $3.645 billion by the year 2022.
This is a medical platform to raise your or your loved one’s health issues and ask for other people to donate for the cause. It can be used to raise funds for various health issues based on crowdfunding.
More than just another medicine delivery app, PharmEasy was founded in the year 2015 to order medical items such as diagnostic testing kits, it is now suggested that people can use the app across all the cities so that it will get activated everywhere in India.
More healthcare-related start-ups are holding their own by adding tech and other activities while constantly growing. While all these organizations are trying to solve health issues, they need patients for the normal utilization of their business. Each of the products is dependent on other phases, but if there is an organization doing well in terms of numbers, they have a large scope for growth and profits.
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