Startups are Bringing a New Wave of Opportunities

Nandini Mukherjee, Managing EditorThe rising coverage for disease, services and increasing expenditure by the public in India has led to the rapid growth of the healthcare industry of the country. In the past few years, the industry has revealed major progress and continues to showcase seemingly great growth through the use of digital technologies. While the prior industry figures confirm that the healthcare industry in India stood at US$ 61.79 billion in 2017, the recent reports indicate that it is expected to reach US$ 132.84 billion by 2023. The healthcare market can increase three fold to US$ 133.44 billion by 2022.
A major breakthrough in the healthcare industry is the launch of innovative solutions and much needed disruption by the new age startups. In recent times, a horde of startups has been seen venturing in the healthcare industry delivering services in areas of hospital management systems, doctor discovery, delivery of medicines, amongst others. They have helped implement major health reforms, public health policy initiatives, as well as strategies and solutions for various clients. Such startups bring a diverse range of client engagement and analytical skills in healthcare strategy technical feasibilities, operations improvement, healthcare deals and technology experience.

In a nutshell, there has been a revolution in the Indian healthcare space as the consumers are now looking for services that can be personalized to suit their needs. And this is where these start-ups are coming to the picture to cater to the personalized healthcare requirements of the Indian consumers. Entrepreneurs and investors are constantly evaluating the sector and are looking for the brightest prospects. These startups are utilizing unique business models to improve the results and comfort of different medical processes. With all such developments, the future of Indian healthcare industry looks promising!
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