There has been a phenomenal contribution of technology in healthtech in the last few years and looking at the pace of development and soon technology will redefine the delivery systems in this field. If one goes by the number, nearly 90 healthtech start-ups received funding, indicating a strong support from the VC’s and other investors groups.
Indian Healthcare status
The healthcare industry in India is estimated to cross $160 billion this financial year but the healthcare services varies in unimaginable proportions across India and especially so in the rural segments of the country. As such, there is huge gap between hospital beds to patient ratio and also in patient to doctor ratio. Planned documentation and patient medical history, as a process, is not secured in any format for future reference. And then there is matter of trust and belief in doctors.
Structural Constraints
India’s healthcare record primarily faces challenges from infrastructure development, medical ignorance, literacy, geographical extent, behavioural pattern and quality offerings.
Though there are multiple measures the present government has initiated towards easy access of medical treatment for the common man by considerably lowering the cost of medicines and other required equipments, there is still a big challenge to overcome the quality of service delivery and affordability between the private and government managed medical institutions.
India as a nation is fighting the dual challenge of malnutrition and obesity at the same time. The growing influence of unhealthy food amongst adults and children, mostly in urban India, has considerably raised the number of Indians suffering from obesity, hypertension, diabetes and coronary diseases in the last two decades. A growing population, challenging work environment, high use of gadgets and a sedimentary lifestyle has further fuelled the growth of lifestyle diseases amongst the young population.
Though there are medical insurance and related products for emergencies, these are last mile measures and available to a very small population as India as less than 20% of its population covered under insurance.
Preventive HealthCare
‘Preventive Healthcare’ is a neo term slowly gaining importance amongst health conscious individuals. Though there has been a growing fitness trend amongst the country’s youth, a majority of the working population, especially in the major metros, do not have the time to attend gymnasiums or follow a workout routine.
Many Healthtech startups are now focussing on Preventive Healthcare understanding the space potential for growth. These Healthtechs have been focussing on building efficiencies in access to medical fraternity, removing information asymmetry, lifestyle change solutions and building trust amongst consumers to adapt to safeguard one’s health.
There initiative towards Preventive Healthcare also provides an inline solution to the existing structural problem in the sector. With technology growth and investor support, Preventive Healthcare will soon be the flag bearer of industry growth in India.
Virtual Fitness apps
The phenomenon of virtual fitness training providing complete flexibility of time and trainers to individuals has been widely accepted by its audience. With features like video and voice support for multiple fitness genres, holistic family training, workout dashboard, backend query support and affordable cost of access, virtual fitness has integrated individuals and entire families under the concept of a healthier eco system. Frequent communications, easy access to fitness infrastructure and has further enabled the acceptance of virtual training.
Healthtechs are also now focussing on the growing concern of lifestyle diseases impact the younger generation, considering that India the second largest population in child obesity across the globe.
Healthtech Future
With the advancements in technology and digital reach across the country, we will soon witness Healthtechs bring in efficiencies in the utilization of existing medical infrastructure, reduce asymmetry of information, increase medical literacy, prevent the growth of lifestyle led diseases and provide easier and reliable healthcare services across the country.
Author Article.
Ganesh Remani , founder of KHELFit .
