13. Why startups are important for healthcare industry_ Top 10 Rising Startups in Chennai 2022 Edition 2

The Healthcare industry is one of the fastest-growing industries not only in India but also all over the world. It significantly contributes in terms of employment and revenue. Hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment are all part of the Indian healthcare industry.

The industry is expanding at a rapid pace as a result of improved coverage, services, and increased spending by both public and private players. Doctors are also like scientists as they are continuously doing research and analysis to find new and better things. Healthcare innovations should not be taken for granted.

Startups are aims to implement new ideas. Startups are an integral part of healthcare innovations.

After all, the core of the startup is to rethink and adopt its disruptive nature to challenge norms and seek more efficient and higher-quality outcomes. It makes sense that, as the healthcare industry faces numerous challenges, including COVID; startups become a valid and vital part of industry conversations and movements.

Importance of startups

Some key importances of startups are mentioned below:

  • Startups find a solution rapidly

Startups come with new ideas and innovative solutions much faster than well-established firms. The startups can specialize in an ultra-specific area which established firms may not do with dedicated time or other issues.

  • Need for more perspectives on healthcare solutions

Unfortunately, bias is the reality in medical research. To achieve an exact result, research should include diverse perspectives and data. Startups can research with diverse perspectives to implement their ideas.

  • Innovation

The main goal of the startups is innovation. They enter the market with unique ideas. They can find creative solutions to complex problems in the industry.

  • Support

Startups based on technology support the healthcare industry. AI has great applications in healthcare. AI is a significant component in healthcare innovations.

For example, AI aided in the global recovery from the COVID-19 pandemic, which lasted nearly two years. AI has been used in the healthcare industry for a variety of purposes, including early detection of COVID-19, patient assistance, and so on.

Challenges of healthcare

India faces some challenges in the healthcare sector including limited access, investment and an increase in chronic disease burden. These challenges may be an opportunity for any startup.

  • Need of Startup

The gap between the needs of care seekers and traditional healthcare services is increasing. And it becomes a major challenge for the healthcare industry. It is unaffordable for the healthcare sector. On the other hand, these factors lead to the growth of the healthcare startups ecosystem and encourage them to innovate. Startups not only help the patients to get qualitative healthcare services but also create employment. According to Invest India, the sector will create 40 Mn jobs by 2030.

List of best startups in India

Some of the startups in the healthcare industry are listed here:

  • Netmeds

Netmeds is an online platform for pharmacy. Netmeds has millions of active customers and deliveries over 19, 000 PIN codes in the country.  It is also known as ‘India ki Pharmacy’.

  • ImpactGuru

The vision of the startup is to make healthcare accessible to all and save more lives. It is a crowd funding platform for medical purpose.

  • Docplexus

This platform is for doctors. Doctors can create their communities on the platform and discuss problems all around the globe. Phanish Chandra is the founder of Docplexus. It has more than 2,75,000 doctor members.

  • Mera Medicare

MeraMedicare is a healthcare startup founded by Pankaj Gupta. MeraMedicare offers home delivery of medications in 2 to 12 hours and a 15% discount on almost all medications. It is a dependable and hassle-free method of ordering medications.

  • 3Hcare

3Hcare is a healthcare startup based in Delhi. It is a healthcare services marketplace on the internet. 3Hcare provides comprehensive information on healthcare services in India. Users can simply visit 3Hcare’s website to learn more about diagnostic centers and hospitals that meet their needs. The name “3Hcare” stands for “Help, Health, and Happiness,” and it represents the startup’s goal of assisting people in maintaining their health and happiness.

Final thought

The healthcare industry is constantly evolving in terms of disease, treatment, and research.  Startups contribute to the growth and development of the industry as a whole. Startups are important in all sectors of the healthcare industry.

– Varada Ukidave

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