NEW DELHI: With the rise in technology, there is a high demand for quality and affordable healthcare in India. The healthcare market in the country is poised to grow from USD 100 billion in 2016 to USD 280 billion in 2020, therefore creating a huge opportunity for healthcare and health tech companies and startups.
Today's healthcare (and services) sector is not the same, as it used to be a decade ago, wherein quality and affordable healthcare services eluded a vast majority in terms of reachability.
The government aims to increase the healthcare spending to 2.5 percent of the Gross Domestic Product (GDP) by the end of its 12th five-year plan, and to three percent by 2022.
Here is a list of six healthcare startups which are redefining the healthcare sector in India:
1.Niramai: using Artificial Intelligence (AI) to fight breast cancer
Founded in 2016, Niramai is among the leading startups using technology to fight cancer. The Bengaluru-based startup uses AI for a pain-free breast cancer screening.
The platform uses machine learning and big data analytics over thermography images to develop reliable and low-cost diagnostic methods.
2. MUrgency: bringing medical emergency services under one app
Mumbai-based MUrgency is a healthcare mobile app that connects people who need emergency responses with qualified medical, safety, rescue, and assistance professionals.
On the supply side, MUrgency acts as an aggregator bringing together varied emergency services, including doctors, nurses, paramedics, ambulances, and first-aid assistants, all on one platform.
On the demand side, users can call for emergency medical response and assistance with just one tap on the mobile app.
3. Advancells: making stem cell therapy affordable
Started by serial entrepreneur Vipul Jain, the Noida-based startup provides stem cell therapies in India.
Stem cell therapy, also known as regenerative medicine, is considered to be the next big thing in potential in organ transplantation.
The technology has been found capable of treating various diseases such as diabetes, Parkinson’s, Alzheimer’s, arthritis, stroke and heart diseases.
With a team mostly consisting of scientists, Advancells processes the bone marrow or adipose tissue from a patient and separates the stem cells. These are further processed in a laboratory for treatment procedures.
4. Portea: bringing doctors and medical professionals to the patient’s doorstep
The Bengaluru-based startup offers home visits from doctors, nurses, physiotherapists, and technicians for patients. Using remote diagnostics, point-of-care devices, and remote monitoring equipment; doctors and medical professionals can monitor patients who can't travel to hospitals.
The patient data is uploaded using smartphones to an EMR platform, which uses predictive analytics to understand health trends in the patient.
5. AddressHealth: making pediatrics affordable and holistic
The Bengaluru-based startup provides primary pediatric healthcare services to schoolchildren. The kids are screened for hearing, vision, dental health, anthropometry, alongside a complete medical examination.
With four standalone clinics across the city and numerous school-based clinics, AddressHealth makes use of technology at each step to make healthcare holistic and affordable for children.
The startup has also designed curriculum for students to instill a healthy behavior in them in their formative years.
6.LiveHealth: making medical reports smarter
The Pune-based startup works as a management information system (MIS) for healthcare providers. From collecting samples, managing patient records, diagnosing them and generating reports, to billing and inventory; LiveHealth intervenes at each step, making the process smarter and more efficient.
Using AI to process millions of medical records and ERP transactions, LiveHealth soon plans to help doctors and patients make informed decisions as well.