There is a high demand for quality and affordable healthcare in India due to a fast-growing middle class and increased usage of Internet and mobile broadband. With the healthcare market set to grow from $100 billion in 2016 to $280 billion in 2020, there are huge opportunities for healthcare and healthtech companies and startups to flourish.
Though the healthtechstartups in India are still new, there are larger trends emerging in preventive healthcare, analytics, pathology, emergency services, among other things. Let’s take a look at some of them.
Advancells was founded in 2013. Based in Noida, this startup provides stem cell therapies in India. Considered the next big thing in potential in organ transplantation, the regenerative medicine has been found capable of treating various diseases such as diabetes, Parkinson’s, Alzheimer’s, arthritis, stroke and heart diseases.Advancells processes the bone marrow or adipose tissue from a patient and separates the stem cells which are further processed in a laboratory for treatment procedures. Around 55 hospitals use the therapies devised by the startup currently.
Forus Health was founded in 2010. It uses technology to fight the skewed ophthalmologist-to-patient ratio in India. Its portable product 3nethra makes screening of common eye problems which can lead to blindness just a few minutes affair. Based in Bangalore, they have over 1,300 installations across 26 countries.
Based in Bangalore, it provides primary paediatric healthcare service to schoolchildren. Alongside a complete medical examination, children are screened for hearing, vision, dental health, anthropometry taking a holistic approach. They have four standalone clinics in the city and numerous school-based clinics. Making use of tech at each step to make healthcare holistic and affordable for children, it has also designed curriculums for students to instil healthy behaviours, both mental and physical, in their formative years.