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Digital Health in the Aftermath of COVID-19: A Report by Invest India
Digital Health in the Aftermath of COVID-19: A Report by Invest India

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Introduction:

Invest India, has brought the critical need of Digital Health in India after the COVID-19 pandemic through this report. According to the report, the COVID-19 pandemic has brought unprecedented change to approaches in digital health while at the same time highlighting the need for new technologies concerning the public’s health and wellness. The telemedicine sector, wearable devices, and AI contribute to the rapid expansion of the market for digital healthcare. These digital health products can benefit the community by accurately delivering personalized timely diagnoses, improving treatment access and quality of patient life. India is trying to promote and accept digital health with the backing of the government and private players to increase the use of and improve the quality of healthcare services. But some factors such as poor infrastructure and cost-effectiveness are barriers. 

The COVID-19 pandemic has taught the world some important lessons. It seems that focusing on a preventive strategy will be the way of the future and that health standards should be improved with the help of technology. Adapting to digital tools and services to restrict physical access to medical assistance can help break the disease spread chain. 

Highlights of the Report:

  1. Digital Health Boom: By 2025, the total addressable market in the US for integrated digital health is expected to be worth between 86.4 and 504.4 billion dollars over those years in a continuous decline.
  2. Investment Surge: The potential of opportunity-based investing in the venture capital sector has diversified into digital health startups over the years 2020 and 2021.
  3. Tech Integration: Digital infrastructure needs an amalgamation of AI, big data analytics, and other technological advancements post-COVID-19.
  4. Government Support: Initiatives such as Aarogya Setu, the telemedicine practice guidelines, National Health Stack (NHS), National eHealth Authority (NeHA), and e-Sanjeevani are helping to transform healthcare in India into a more digital-focused era.
  5. Consumer Demand: The prevalence of telehealth will continue to rise due to an increased desire amongst consumers for digital health devices.
  6. Major trends in digital health post-COVID-19: There is a surge in the application of smartphones, big data, virtual reality, wearables, AI, and blockchain in the field of digital health post-pandemic.
  7. Contagious Disease burden: In India, there are more than 150 people per 1 lakh population die due to contagious diseases as per IHME Global Burden of Disease, 2017.  
  8. Preventive Focus: The particular preventive healthcare strategies have now been identified as missing links in boosting public health.

Key takeaways

  • Opportunities for Growth: The health digitization market has a healthy compound annual growth rate (CAGR) of 29.6%, demonstrating a need for new ways of delivering care. This growth offers great investment prospects to the stakeholders.
  • Regulation and Policy: The vision of the Indian government for the adoption and spread of telemedicine and digitization in the nation’s healthcare system is crucial to changing the way healthcare is accessed and delivered which shows the importance of public policy in adopting technology in healthcare.
  • Consumer Readiness for eHealth: Numerous healthcare workers and large segments of patients show a willingness to use the available tools, indicating a change in society’s attitude towards accepting telehealth and EHRs.
  • Preventive Measures are the Way: Emphasizing preventive aspects of care is one of the ways to save on costs associated with healthcare while improving overall health status in communities, more so for countries like India having a high population density.
  • Investment Climate: A sign of a very robust environment for digital health solutions that meet a variety of needs is the increase of funds into health tech start-ups which is also conducive to creative ideas and establishing new inclusive health solutions.
  • Technology Integration is Fundamental: The application of AI and big data within health systems can increase the efficiency of the systems, minimize error rates, and enable effective deployment of personalized medicine for the benefit of the patients.
  • Chronic Problems: Improving infrastructure deficiencies and determining viability in cost for growth is paramount to ensure the inclusiveness aspects of digital health interventions and enhance healthcare accessibility.

Conclusion:

Invest India's report on “Digital Health in the Aftermath of COVID-19” has figured out that Digital healthcare is no longer a dream or aspiration but an imperative tool for managing the current healthcare consumer and market requirements. Digital health must be strengthened with public-private and medical-software professionals' collaboration to improve the quality of healthcare being provided to patients.


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