Indian healthcare industry is marred by many factors such as affordability, awareness and availability, making health services accessible to very few. In such a scenario, technology is proving to be a great leveler.
Medical technology innovations are making modern health-care accessible, available and affordable to all by lowering the cost of the product and delivery. Though the market for medical technology in India is still quite small, many startups are leading by example. Here’s look at some of these med-tech startups that have changed the face of Indian healthcare industry and witnessing rapid growth expanding their footprint.
Bangalore-based Cardiotrack provides predictive diagnosis for cardiovascular diseases. Using Cardiotrack’s technology and AI platform, doctors can detect heart health problems accurately, consult specialists, refer and track patients, maintain medical history and start the intervention process.
The Cardiotrack device was launched in September 2015 and their devices have been deployed across India, Myanmar, Indonesia, Mexico and U.S.A. Major reason for getting traction in the market has been affordability, ease of use and mobility that the product renders to its users.
The startup has been expanding rapidly to address the growing concern with regard to heart disease, and deliver cardiac solutions that are real-time and preventive in nature. It recently partnered with Star Hospitals, a multi-speciality hospital chain based in Ahmedabad to deliver real-time diagnostic solutions in Gujarat. This expansion, makes Cardiotrack a Pan-India provider of AI-based cardiac care solutions.
Another med-tech startup that has created a customer base of one million customers in a short span of just over two years is e-pharmacy Medlife.
The largest online pharmacy in India is on an aggressive expansion strategy to scale up its business to over 100 cities by 2018. In line with this, Medlife also plans to invest $30 Mn over next 12 months to expand its presence in India.
“We plan to create a simple ecosystem for patients, which can solve most – if not all – their pain points that exist today. Our target is to grow by at least 10 times within the next three years. With certain exciting launches that we will be announcing soon, Medlife is poised to revolutionise India’s healthcare & pharmaceutical industry in the near future,” said Tushar Kumar, CEO, Medlife.
In 2014, Medlife started out with its e-pharmacy business and gradually diversified into 24X7 e-consultation and laboratory services. Today, it offers an array of app-based healthcare-related services across India. For customers who are not digitally savvy, the company also has the option of call-to- order services.
Founded in 2010 by a group of engineers with the goal to eradicate avoidable blindness, Forus Health has built an imaging platform called 3nethra, a portable device for screening common eye problems.
With the help of IoT, the startup conducts remote diagnosis. The images are screened in remote locations and doctors in towns and cities grade them and the patient gets the report back in their respective locations — all this happens over the Cloud.