Telemedicine analysis: India

Abstract

Formally HealthTech is defined as the use of technology to enhance the delivery, payment, medical care to the patient, coupled with the ability to grow by the development and commercialization of medicinal services and products. HealthTech includes everything from telemedicine to robotic-assisted surgery. Through the amalgamation of automation and Healthcare in India, the healthcare sector is graced to establish new landmarks in India and is one of the fastest-growing sectors. According to an estimate, the healthcare market will not only be worth $ 370 billion but also promise yields up to 35-40% by 2022, creating almost 40 million jobs by 2030 [1]. Technologies like AI, ML, IoT, robotics, nanotech, 3D printing is a few of the things that find application in the healthcare sector. Most of healthcare startupsfocused on easing access to healthcare resources. It doesn't come as a surprise in India owing to the imbalanced ratio of medical specialists to patients in the country. We can broadly classy the HealthTech startups into the divisions of pharmacy, home healthcare, diagnostics, biotech, etc. The recent growth of healthcare startups signal that soon, we will target the benefit of biotech, genomics, and robotics in hospitals aimed at enhancing the efficiency of current health-related services. AI can help identify diseases with complete certainty, while mobile applications allow us to track our vitals, and movements can improve the wellbeing of the country. The recent success of various HealthTech startups in India highlight that Indians are indeed keen for better healthcare and are trusting them to take care of it. It is strongly believed that technology will ultimately address the issue concerning the Indian healthcare industry, for instance, affordability, scalability, efficient capital employment, etc. This also explains the massive potential for HealthTech startups, who are in the perfect position to act as a bridge that joins Indian demands and needs.