HealthTech Startups – What, why, How?

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What are they?

These are companies that provide a wide range of services in the healthcare sector such as something as small as medicine delivery to something complex such as providing solutions to unhealthy lifestyles.

 

Why are they needed?

Indian healthcare sector is very disorganized and medical facilities are unevenly distributed, especially in rural areas. The national average ratio of doctors to patients is 1:1674 against the WHO norm of 1:1000, the cost of treatment varies from place to place; for example -average expenditure per hospitalization in 2014 ranged from Rs. 18,327 in Chandigarh to Rs. 32,503 in Goa. The low medical awareness and weak health infrastructure have created the need for such technology-based systems.

 

How are they faring in India?

The future of health tech is looking great as the Indian Healthcare Market is expected to be worth $280 billion by 2020, as per a Deloitte 2016 report. According to Sergio Pimenta, global head if industry manufacturing, agribusiness, and services at the World Bank Group institution, the International Finance Corporation are planning to invest in many startups in India. This health tech boom can revolutionize the quality of healthcare in India.

Some Prominent Startups:-

 

Lybrate

It allows users to choose and consult more than 90000+ verified doctors. Customers can have a one on one interaction with doctors. Patient information can easily be managed through the platform.

 

Medibox Technologies

It digitally enables pharmacies to place online bulk orders on medical suppliers. Additionally, manufacturers can carry out brand campaigns through launches, offers, and schemes.

 

Medika Bazaar

It is an online medical marketplace for healthcare needs. Consumers can compare prices, features of medical equipment and wellness products for purchase. There exists an option to buy refurbished equipment on the portal.

 

BookMEDS

The start-up is an online pharmacy where users can medicine delivered for free within four hours. Users can search according to product categories like orthopedic, homecare, Ayurvedic etc. At present, it works with 351 pharmacies. The medicines are dispensed only by the pharmacies that use their system.

 

– By Sashank  Bhargava

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