Changes in Indian Healthcare with the HealthTech companies

Technology is touching the lives of people in almost all the sectors and the healthcare market is no exception. The recent advancements made in the healthcare industry have enabled faster & cheaper services that can be provided to the patients. Technologies like Machine Learning, Wireless Technology & Cloud Computing definitely strengthen the spine of the Indian healthcare industry. It should be noted that the private companies with it’s early adoption of the technologies have a big role to play in rolling out of these services.

Moving to a new city has it’s own challenges especially if it’s about finding a doctor for a medical emergency. Practo – A healthcare app provides information on doctors to the patients and their family. It brings the service to book an appointment with a doctor at literally the fingertips of the users. And now Practo is trying up with the Non Banking Finance Companies to arrange loans for the patients as well as the doctors when required. There are cases where certain loans for medical emergency may not be available from the banks. Also, everyone is not medically covered. Practo is showing a lot of promise to become the all-in-one app for any form of medical requirement. For more information, please follow this link.

Curofy is the new social network for the doctors. Like LinkedIn is the social network for professionals, Curofy is the same specifically for the doctors. With this medium, it’s becoming easier for the pharmaceutical companies to market a new drug to their target customers. The doctor’s professional life is more enriched and getting access to all the drug related information is made much easier.

Recently Dabur family-owned Health Care At Home (HCAH) raised $40 million (around Rs. 250 crores) in funds from Asia based Quadria Capital. HCAH provides medical personnel and services (including ICU service) available at the comfort of one’s house. The fund raising initiative has come after HCAH formed a JV with the Japanese based M3 Inc less than a year ago.

According to the ibef.org, the Indian healthcare industry is approximately $100 billion in market size and is expected to become $280 billion by 2020 at a CAGR of 22.9 per cent. This clearly indicates that there is a lot of untouched potential in the Indian healthcare sector. Technology is definitely going to be a major catalyst to achieve that state.

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