Rapidly growing health-tech industry bridges gaps in India’s healthcare ecosystem

By Raviteja Dodda The rapid adoption of technology, driven by the Covid-19 pandemic , is proving to be a big ' booster dose ' for the country's healthcare ecosystem, steering it towards unprecedented digital transformation and innovation. For long, the healthcare industry has been focused on offering treatment after the onset of a disease or when complications arise. With technology, the industry can now hope to bridge the gaps in the areas of preventive healthcare and disease management. The healthcare technology ( health-tech ) vertical has seen exponential growth in the last few years, spurred by the growing trends of online patient consultation, e-pharmacies , telemedicine , fitness and wellness awareness, home healthcare, healthcare IT and analytics, and digital management of chronic diseases. A plethora of startups have mushroomed in the vertical, offering consumers the power of technology to monitor their health from the comfort of their homes. According to the Internet and Mobile Association of India-Praxis Global Alliance, in 2020, India's health-tech sector was valued at $1.9 billion—under 1 percent of the healthcare industry. The nascent sector, with over 5,000 health-tech startups, is all set to grow at a CAGR of 39 percent to touch $5 billion by 2023,… Read full this story

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