The rise of digitization in healthcare and patient records, and creating different discovery platform for doctors and healthcare practitioners has been the key factors disrupting the medical startup space.
The healthcare is one of the last sectors to be disrupted by the technology and has seen major changed in last couple of years. The space was almost untouched since last two decades.
In 2008, thats when Founders Shashank ND and Abhinav Lal started Practo, the only other large players in the market working on patient care management software were Microsoft and Google. Experts say that they gave-up this plan midway considering the complexities, but Practo continued working towards integrating doctors, patients and healthcare practitioners.
Shashank ND, Founder, Practo said.
“We are on a mission to improve human longevity by simplifying healthcare. Over the next 12 months we will expand to 35 cities in India and several more international locations to help hundreds of millions of consumers around the world find the best doctors and make better healthcare decisions,”
According to a report published by Startup Healthcare,
- More than 7,500 startups around the world are developing new solutions in digital health.
- AngelList, a social community of startups and investors to make fundraising efficient, shows a list of 7,629 companies globally
- 298 Indian companies under the healthcare category.
Things happening on the sector
According to the report released by India Brand Equity, the per capita expenditure on healthcare is estimated to increase to $89 in 2015 from $61 in 2012. The market size of the sector of India was estimated to be $ 75 billion during 2012-13 and is projected to reach $280 billion by year 2020, while hitting the $160 billion milestone in the year 2017.
Various Indian startups in this segment
Healthcare discovery – These platforms connect customers to doctors and hospitals, and help them to book appointments. List of startups in this space.
-PractoSearch, a product of practo that helps the users to find and book a doctor.
– Surgerica is a platform where a patient or his/her family can connect with doctors, choose a hospital, get a doctor’s opinion, compare prices and the diagnosis of two physicians.
– Ziffi provides a real time, accurate and detailed analysis about health and beauty services including stylists/doctors profiles, schedules, specialties, ratings, reviews by previous consumers.
– Medicast enables users to request call from a doctors on demand.
– This provides a desktop and mobile platform for users to get a treatment and diagnosis for minor health problems.
Medical devices and diagnostics – These companies usually use intelligent technologies to simplify diagnostic procedures. List of startups in this space.
-HealthifyMe app helps people to track their nutrition, fitness and weight,and provides them meaningful insights on their lifestyle and also suggestions to improve it.
– Diabeto transmits glucose readings from glucometer in wireless form to your android devices.
-UCheck from Biosense Technologies is an app on a phone to test urine, it can diagnose a range of conditions, such as diabetes, urinary tract infection and hepatitis, based on snapshots of urine samples.
– 3nethra a product from Forus Health is a pre-screening ophthalmology device.
Specialty care – These startups focus on one particular vertical of medicines, this helps in providing special care to patients. List of startups in this space.
MyDentist– MyDentist focuses on personalized and optimized dental care.
-Propellerhealth helps manage asthma and COPD. The Propeller inhaler sensor and app tracks the patient’s medication use, and the app gives personalized feedback and education on ways to improve the user’s asthma control of COPD status.
– Its an app that enables users to check and track their moles over time in order to detect and prevent skin cancer.
Digitizing and tracking – These platforms help in integrating all medical records of patients and putting them in one place. List of startups in this space.
– Practo Ray is a cloud-based practice management software of Practo Technologies for comprehensive digitization of healthcare clinics and wellness centres.
– DocEngage provides tools to see patient information at a glance, making patient interaction effective.
E-commerce – These websites help people order medicines and healthcare equipment from various vendors.
Provides Generic Medicines and other medicines at a cheaper rate with various discounts and ensures fast delivery.
-HealthKart, a part of Bright Lifecare Pvt. Ltd. is an online destination for Dietary supplements and health devices
Doctor’s networking – These platform provides networking for the doctors where they can share and discuss complex cases, innovations.
– A large network of doctors which follow case based learning approach and have seen many clinical cases.
-It provides a network and platform for doctors where they can share or discuss complex cases,new medical innovations etc.
Focused Treatments – These platforms are focused towards specific treatments.
– It is a Facebook application that connects blood donors and recipients of the same blood type through Facebook.
– Focused on developing novel and innovative treatments for common skin conditions such as dandruff, acne, pigmentation disorders and wound healing.
Telemedicines – These ranges from online interaction with the doctors to consult a specialist.
– Ehealthaccess gives its customers a way to interact with doctors no matter where they are situated.
– It is specialized in providing healthcare solutions through advanced telemedicine technology.
-Media Angels are worlds first global e-hospital.
-It is a leading online provider of health information and services to consumers, physicians, healthcare professionals and corporations globally through their websites, applications and product offerings
The healthcare segment is gaining traction and attracted foreign funds to the tune of USD 3.37 billion in January-July, this is almost half of the total overseas flow into the domestic capital market. In year 2014, an amount of $6.5B was invested into this sector at a 125 percent increase from the total amount invested in 2013.