Healthcare and Lifesciences
3 reasons why healthcare startups are poised for growth
28 Jan 2022
The widening gap between patients requiring treatment and
available facilities made the acceptance of remote patient monitoring, online
delivery of medicines, telehealth, AI-powered health solutions, etc., more
accessible. The government initiated health mission policies such as
e-Sanjeevani telemedicine services also prompted its growth. This allowed
startups to provide e-healthcare services and profit from the robust popularity
from the previous two years. Many online companies developed a digital pharmacy
platform and fitness services based on AI-based diagnostic technology. The
service helped the industry grow and improve the outpatient care and
consultation availability for the needy. The high rate of digital health care
demand is bound to prosper the health care startup ecosystem further. It is
estimated by the Internet and Mobile Association of India (IAMAI)-Praxis Global
Alliance that India's health-tech industry will reach $5 billion in 2023 at a
CAGR of 39 per cent annually from $1.9 billion at the start of the pandemic in
2020.