Tier 2 Cities to Witness More Healthcare Tech Startups: Study

Craft Driven Market Research studied 154 health-tech start-ups of India which are currently active and investigated different parameters attached to them.

NEW DELHI: India is one of the most attractive countries for startups across the world. Many young entrepreneurs have emerged in the country and have brought advanced technologies in different sectors and industries. One of the most sought sector these days is health care. The sector has seen hundreds of startups some of which are working nationally and many 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.

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.

Aakanksha Aggarwal, founder of Craft Driven Market Research says, "There is a big scope for the health care start-ups in the field of big data which can be used to devise solutions for preventive healthcare as well. Such solutions can impact the health care industry greatly and can result in the solution to several problems and diseases."

Major findings of the report are:

• 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. Detailed report on www.craftdrivenresearch.com

The study has identified nine segments in which the health-tech start-ups are working. They are namely doctor learning platform which are based on social networking for doctors only so that they can share information with their peers. Doctor-patient platform connects patients with the expert doctor while sitting at home. Fitness centred start-ups focus on health training, fitness training and exercises. Health monitor based start-ups have devised devices or applications that can help the users to monitor their health issues precisely. Healthcare ERP based start-ups use management software to provide for the hospitals and medical institutions. Other popular segments are information providers, medical device suppliers and online pharmacy networks.