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Healthcare in India – Transforming through innovation

July 20, 2022 3872 0 HealthTech and Life Sciences Product/Startups

Healthcare in India – Transforming through innovation

NASSCOM’s report on “Healthcare in India – Transforming through innovation” focuses on transformation witnessed in the Indian Healthcare ecosystem driven by emerging technologies and innovation. The findings are based on the analysis of the top use case submissions received during the 3rd Edition of NASSCOM Healthcare Innovation Challenge (HIC) conducted by NASSCOM COE IOT. The analysis covers in detail the infrastructure, technology, deployment, and pricing required for the implementation of these innovative use cases to enable process automation and technology advancement in hospitals and other areas in healthcare. A key highlight of the report is a detailed section on the HIC-3 winning solutions and recommendations for industry stakeholders to further strengthen the healthcare sector in India.

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Key Highlights

Indian Healthcare Ecosystem is Transforming:

  • >2.5X growth in the healthcare market from 2016-22, expected to reach $370+ Bn
  • 2000+ HealthTech start-ups in the Indian tech start-up ecosystem, $1.2+ Bn funding raised in 2021
  • ~1.8X Increase in healthcare expenditure (2018-25E) with focused policies fueling growth

 

New Emerging Areas to Cater Changing Needs

  • Increasing life expectancy, rising income etc. – Shifting health indicators impelling healthcare innovation
  • New business solutions like home healthcare, Medical Value Travel (MVT) etc. emerging as niche growth areas

 

Future of Healthcare - Impactful and Disruptive

  •  3+ Mn requirement of doctors and nurses by 2025
  • Telemedicine, health insurance, hospitals to see a major push
  • Focus on building workforce, easing public procurement, Bharat start-ups and digitizing primary care

 

Healthcare Innovation Challenge (HIC) Innovative Use Cases:

  • 100+ applications, 35+ finalists, 8+ winners and 5+ runner -ups
  • >50% use cases leverage Artificial Intelligence
  • >40% solutions can be deployed within 8 months

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