The rising demand for affordable healthcare, increase in social awareness, rise in internet users, technological advancements, COVID-19, and government initiatives has created huge opportunities in the Indian Healthcare industry. The Healthcare industry is one of the important pillars which will help in building 6 trillion GDP by 2025.
Startups are evolving the landscape of the Healthcare industry by applying innovative technologies like machine-learning, Nanotech, IoT, AI, Robotics, 3D printing, etc.
Some of the important facts and figures which are attracting Startups and Investors in India are
- Over 5000 startups in the Indian HealthTech industry and growing at 35% YoY.
- About 76% of healthcare professionals in India are using digital health records (DHRs) in their practice.
- Healthcare Market in India is expected to reach USD 372 Billion by 2022.
- 53% of the total angel investments in 2019 were in the healthcare industry.
- The Healthcare sector will employ more than 40 million by 2030.
- India ranks 184th out of 191 countries in terms of percentage of GDP expenditure on healthcare.
- The Government of India is planning to increase public health spending to 2.5% of the country’s GDP by 2025.
- India ranks 145 among 195 countries in terms of quality and accessibility of healthcare.
- Ayushman Bharat is the World’s largest Government Funded healthcare scheme.
Some the well-funded in HealthTech to watch out for are
Website – callhealth.com
Incorporated – October 2014
HQ – Hyderabad
It offers virtual-and-mobility in healthcare services including doctor consultation, diagnostic tests, hospitalization assistance, medicine delivery, and home-care services including nurses, physiotherapists, and trained attendants.
Funding – $14.1M, 2 rounds by 4 investors.
Website – cure.fit
Incorporated – July 2016
HQ – Bangalore
A Health, Fitness, and food startup comes with multiple setups such as Care.Fit, Eat.Fit, Cult.Fit and Mind.Fit.
Funding – $404.6M, 9 rounds, 32 investors, 6 acquisitions.
Website – pharmeasy.in
Incorporated – 2015
HQ – Mumbai
PharmEasy is one of India’s largest healthcare delivery platform. PharmEasy is delivering medicines in 1000+ cities and towns across 22000+ pin codes in India.
Funding – $328.5M, 7 rounds, 18 investors.
Website – practo.com
Incorporated – 2008
HQ – Bangalore
Practo is well funded early startup in India, with the mission to help improve human longevity by simplifying healthcare through the online platform and HIS.
Funding – $251.2M, 7 rounds, 12 investors. 5 acquisitions.
The HealthCare startup ecosystem is expected to produce more than 10 unicorns in the healthcare industry.
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