The COVID-19 pandemic has brought the overburdened Indian healthtech and healthcare system to the forefront. Primary care has become difficult to be availed. People are slowly reaching out to technology-based solutions such as telemedicine, AI/Ml-based diagnostic analysis, and digital health record keeping. These are the backbone on which India’s public healthcare system will have to build new foundations in the coming future.
The global community is now grappling with the quality of healthcare and its importance in the face of the pandemic. The sheer size of India’s population will lead to an increase in demand for technology-backed solutions to improve the public healthcare situation. The preventive healthcare market has been predicted to reach a market size of $170 billion by 2025, primarily powered by fitness and wellness applications and diagnostic solutions.
Indian healthtech and healthcare are being restructured thanks to telemedicine guidelines, technology-based approaches, and mandatory health insurance for workers. Within 2 months into the pandemic, India has become the second-largest producer of PPE (Personal Protective Equipment) in the world. India has many such advancements up its sleeve and is on the verge of changing the face of the conventional healthcare system.
The increasing cost of quality healthcare is persuading people to opt for health insurance. Health technology is also getting a push due to increasing awareness among healthcare providers, government, and consumers. Compulsory health insurance policy for workers will lead to a boost in the health insurance market.
Despite the unprecedented effect on the global and national economy, COVID-19 has given a chance to the digital sector to prove its worth and collectively keep the world going.
