Innovation and partnership between MNCs and startups in the healthcare space

Abstract

In today’s world as we see markets expanding and borders shrinking, we see more and more business collaborations. Through this report we are trying to understand better the reasons behind why an MNC and a startup collaborate and what advantages do both parties have. Healthcare is progressively becoming one of India’s largest sectors. Healthcare includes a vast gamut of services and facilities such as hospitals, telemedicine, health insurance, medical equipment, clinical trials, medical equipment, cloud based medical services etc. Health care in India is primarily of two kinds, public and private. Public health spend is the health care provided by the government, that essentially focuses on primary health care facilities via Primary Health Centers (rural India). It is unfortunate that India spends only about 1.4% of her GDP in the medical expenses and India has one of the highest spend of Out of pocket expenses in the world. The secondary and tertiary care is provided by the private sector (Tier I, Tier II cities). Indian HealthCare market is about 100 Billion USD and is going to reach 280 Billion USD in 2020.