With 37% of health tech businesses integrating IoT goods and 54% depending on AI and machine learning for services, the healthcare industry in India is expanding quickly. The enormous population and overburdened healthcare system provide considerable hurdles despite greater accessibility. To close the gaps left by traditional healthcare ecosystems, Indian health tech firms are flourishing. They concentrate on IoT, AI, and machine learning to deliver more effective and efficient services.
Netmeds
The biggest healthcare startup in India, NetMeds, provides online delivery services for prescription drugs and other medical supplies. The platform includes more than fourteen logistic centres around the nation, with one million members and more than 19,000 PIN codes. Licensed chemists at Netmeds digitise handwritten prescriptions to make medicines easily accessible. Even amid the epidemic, Netmeds, one of the first businesses to sell pharmaceutical items, is one of the biggest startups to democratise medicine with 3 million app downloads.
HealthifyMe
Personalised diet and exercise regimens are available on the wearable health-tracking app HealthifyMe, which is located in Singapore. In eight investment rounds since its founding in 2012, it has raised $100.1 million. The iOS and Android software monitors sleep, meals, steps, water consumption, exercises, weight goals, and calorie intake. To offer customised wellness services, it has teamed up with Chiratae Ventures and Khosla Ventures. HealthifyMe launched a free 21-day programme for better eating practices during the shutdown.
PharmEasy
PharmEasy is an Indian online pharmacy based in Mumbai that provides telemedicine, diagnostic, and medication services. Having raised $1.75 billion since its founding in 2015, the company employs 2,830 people. The website offers convenient access to lab testing, online medical consultations, prescription and over-the-counter pharmaceuticals. With over two million users per month, PharmEasy has grown to be the biggest online pharmacy platform. The business collaborates with neighbourhood pharmacies, confirming prescriptions before forwarding them to the neighbourhood pharmacies for distribution.
Innovaccer
A health cloud business called Innovaccer provides population health management, care management, and patient engagement to healthcare professionals as well as other digital health services. It offers tools for patient interaction, decision-making, virtual care networks, and remote patient monitoring in addition to utilising AI and Big Data capabilities for data collecting and analysis. Datashop, a patented tool of Innovaccer, combines intricate patient data from several sources to improve patient care and offer thorough insights.
Tata Health
In Gurgaon, India, Tata Health is a digital health platform that was established in 2015. It provides teleconsultation services, an online pharmacy, a directory of doctors, and fitness supplements. In addition, the app allows users to schedule appointments, order lab tests, and chat with doctors. Tata Health has raised $231 million in finance and has the support of 40 investors in addition to IFC and Khosla Ventures. Prescriptions, remote appointment scheduling, cloud-based patient health information systems, and invoicing services are all provided by the business. While its B2B part streamlines hospital administration, its B2C section provides remote doctor access.
Practo
In India, Practo is an internet platform for managing practices, scheduling appointments, and telemedicine. It was established in 2008 and provides patients with a web-based platform to view physician profiles, schedule appointments, and get chat-based teleconsultations. In addition, Practo offers a reputation management system and a cloud platform that is subscription-based enabling medical professionals and clinics to manage their practices. Users of the portal may also buy medications, manage their medical data, and manage reports. One of the few businesses that offers services to individual doctors and clinics is Practo, which was founded in 2008.
Docplexus
To create a community of knowledgeable physicians, Docplexus is an online platform for clinicians. Docplexus, which has more than 2,75,000 registered users, gives users access to scholarly publications and studies on medical practices. Seven years ago, the platform secured $700K in finance, with support from ASP Consulting and Unicorn Ventures. With 134 staff members, Docplexus focuses on physicians and helps them make better judgments regarding patients. The platform stands apart from other firms because of its distinctive strategy.
Ekincare
A firm called Ekincare wants to make personal health records safe and easily accessible by keeping them on the cloud. Three years ago, the firm raised $3.6M in fundraising; now, it has raised $5.7M. Additionally, it enables employees to sync health-related data from wearables and offers corporate wellness programmes. Ekincare offers customised solutions based on wearable sensor data, which gives businesses the ability to better care for the health of their personnel. This is their unique selling proposition.
NIRAMAI
NIRAMAI is a non-invasive risk assessment firm that uses Thermalytix, a computer-aided thermal imaging system, to diagnose breast cancer early and minimise breast cancer mortality. 500 startups, Ankur Capital, Axilor Ventures, BEENEXT, Binny Bansal, Dream Incubator, Google Launchpad Accelerator, and Pi Ventures have together contributed $6.1 million to the company's fundraising efforts. The business has obtained regulatory approval in several nations and has filed patents for its innovations with the USPTO. The non-invasive, privacy-focused NIRAMAI technique provides a more effective and efficient way to screen for breast cancer.
Medpick
A B2B marketplace called Medpick makes it easier for pharmacies, hospitals, labs, and reconditioned dealers to purchase pharmaceuticals, medical supplies, and equipment. It functions as a group purchasing organisation for hospitals and has operations in Boston, Bengaluru, and India. It also offers marketing tools to nearby pharmacies, automates laboratory procurement, and works with American sellers of reconditioned medical equipment to market their goods to India network hospitals. Medpick keeps all transaction levels transparent.
MediBuddy
MediBuddy is an Indian online platform that provides a range of healthcare services, such as lab testing, health check-ups, follow-up appointment scheduling, medication delivery, and insurance services. It was established in 2013 and now has an acquired finance stage with a Tracxn score of 82/100. Out of 461 competitors, it comes in first.
Medi Assist
Based in Bengaluru, India, Medi Assist provides healthcare benefits administration services including medication administration, test report management, discharge summaries, access to medical history, reimbursement claims, and hospitalisation preauthorization. It was founded in 2002, has a track record of 75/100, and is at the public funding stage. It develops technologies for hospital revenue cycle, billing, and third-party payer system settlement in partnership with other healthcare providers.
HealthKart
A large selection of nutritional, sports, and health supplements are available at HealthKart, an Indian internet retailer. Founded in 2011, it is funded by Intel Capital, Temasek, and twenty-one other investors, and has raised $224 million in a Series H round. The business is ranked 1 out of 176 rivals with a rating of 78/100.
Curefit
Curefit is an Indian fitness startup that provides live and on-demand video-based fitness, yoga, and meditation programmes. They also offer digital and offline fitness services. In addition, it offers real-time performance tracking, an online store, and nutritious meals. Curefit, which was established in 2016, is ranked second out of 761 contestants with a 78/100 Tracxn score and Series F funding stage.
BeatO
BeatO is a Delhi-based startup that offers diabetes management software and a glucometer that works with smartphones. To assist users in managing and controlling their diabetes, the app provides personalised insights and advice. BeatO, which was established in 2015, has secured $49.3 million in Series B investment and a 73/100 Tracxn score.
Conclusion
IoT, AI, and machine learning are being used by Indian health tech businesses to improve the healthcare sector. The biggest startup, NetMeds, provides online prescription medication delivery services. A wearable health-tracking app called HealthifyMe, with its headquarters in Singapore, offers customised workout and food plans. Telemedicine, diagnostic, and pharmaceutical services are provided by PharmEasy. Patient involvement and population health management are provided by Innovaccer. Practice management is handled by Practo; health record accessibility is provided by Ekincare; and a range of healthcare services are provided by MediBuddy, Medi Assist, HealthKart, Curefit, and BeatO.
