Start-ups are revolutionising the Healthcare Industry!

By Aparna RoyAccording to healthcare statistics, 7500+ healthcare start-ups are developing globally. Out of which about 298 startups are India based. In a recent report, it was also estimated that the Indian health tech market will reach $280 billion by 2020. And so far, this industry has provided about 4 million employment and felicitous opportunities to the huge populace of India.

The disturbed ecosystem of the medical industry has paved way for numerous medical private enterprises to flourish. Though the health care industry in India evolved as the fourth largest employer in 2017 by employing a total of 319,780 people, this sector is unorganised and most unequally distributed. Factors like lack of cost-effective treatments, medical awareness and negligence, poor management, outdated apparatus and primarily the innumerable increase in the number of patients brought in great turmoil in this sector. Such inconvenience incorporated the idea of bridging the gap between patients and treatments in the minds of many budding entrepreneurs which eventually led to the emanation of healthcare start-ups in India. These start-ups came forward with the sole motive to uplift the position of India’s healthcare industry. It not only created a significant impact in the Indian market but attained an impressive position in the global market.

The advent of these healthcare houses has introduced new technologies, hospital management tools and professionalism to the industry. They are aiming to merge technology in all the components of the healthcare market such as hospitals, pharmaceuticals, diagnostics, medical equipment and supplies as well as telemedicine. To enhance the functionality further many organizations have seconded the use of Artificial Intelligence (AI), mostly to carry out the task of automation successfully.

The healthcare start-ups are also taking a keen interest in improving the health of the people. Owing to the unhealthy lifestyle that people are living today, many companies have started android and smartphones health applications. Through these apps, the company encourages people to stay fit and healthy. These apps act as health gurus who helps keep a constant check on the calories, food, exercise and activities of a person. This constructive initiation has catered many health-related queries and has helped people work towards healthy living, minimising hospital bills and maximising good health.

Hence, it is very fortunate to see that the innovations that healthcare start-ups are bringing into the medical field are widely and positively accepted by people and medical practitioners. This has planted a very fruitful scope for entrepreneurs to venture. Indeed, health care start-ups actually own the power to bring medical revolution in the country.