Healthcare in India is expected to be a $372 Bn industry by 2022 owing to the 1.3 Bn population. This will open a largely untapped opportunity for the healthtech startups globally. Further fueling the growth of Indian healthtech startups are factors like low allopathy doctor to patient ratio (1: 1596), access to smartphones and internet usage expansion.
Let’s take a look at some of the top healthtech startups in India that are making their mark in the lives of the people from all segments, including urban and rural markets.
Innovaccer is built on its integration and interoperability platform and helps providers with artificial intelligence applications for care management, physician burnout reduction, and patient engagement. Hartford Healthcare, University of California, UniNet Healthcare Network of Nebraska, Mercy ACO Iowa, Inmediata Health Integrated Solutions of Puerto Rico, StratiFi Health Network are some of their clients. The company claims that customers have improved outcomes and created more than $400 Mn in cost as of January 2019.
Providing health-related content in 13 different Indian vernacular languages, myUpchar also helps the patient connect with the doctor. The startup is currently strengthening its voice, video, and virtual reality interfaces and is also working on the development of newer interfaces. It claims to have served over one crore users as of January 2019, out of which 50% of its users preferred Hindi content. The platform serves 35 Mn pages of health-related content. More than 60% of its users are women between the age group of 21 and 34 who seek health-and wellness-related information.
Mitra Biotech has been busy in commercial expansion post raising $40 Mn funding round in July 2018. It’s diagnostic platform CANscript is a unique one which delivers treatment response predictions utilizing a clinical data-trained algorithm to deliver a response prediction per treatment tested with a high correlation to clinical outcome. Its head office is based in Greater Boston, US, and maintains a significant research and laboratory presence in Bengaluru.
Keep watching this space for more.