India's Next Wave Of Healthcare Tech Boom Is In Tier II Cities

by CXOtoday News Desk    Sep 08, 2016

Indias next wave of healthcare tech startups in Tier II cities Research

India happens to be one of most opportune markets for new startups, especially for healthcare technology start-ups. As per results of the Craft Driven Market Research, the next wave of healthcare related technology start-ups will come from India’s smaller, or Tier-II cities.

The sector has witnessed hundreds of start-ups, some of which are working nationally and many of them, regionally. The trend started when some of the start-ups created a common platform for doctors and patients. The platform could connect the patients anywhere in the country to the expert doctors to seek their advice.

The trend then moved further, with many more segments and services in the sector. More and more start-ups are evolving in the areas of fitness, health plans, online health monitors, information providers, medical device suppliers etc. These start-ups will surely change the way health care sector works currently.

Craft Driven Market Research studied 154 health-tech start-ups of India which are currently active and investigated different parameters attached to them. With massive R&D and innovation taking place in these start-ups, the future of the country is expected to be much influenced by these start-ups.

Also, as has been stated by several industrialists, India is one of the strongest contender for health care services in the world and the rise of technology based start-ups in the country will give way to better health services which will attract medical tourism as well.

Some of the other major findings of the report are as follows:

·      Delhi/NCR, Bengaluru and Mumbai are the cities with 75% of start-ups in health care sector. Other emerging cities are Hyderabad, Chennai, Pune and Ahmedabad.

·      Bengaluru has received maximum funding till now in health-tech sector followed by Delhi and Mumbai

·      2016 is expected to see a rise of 88% in the number of funding and investment in health care start-ups

·      One of the oldest segment in health-tech start-ups is doctor-patient platform and 22.37% start-ups are based on this idea

·      Majority funding has been done in the doctor-patient platform based start-ups which is followed by health plan serving start-ups