The report highlights the rapid growth and potential of preventive healthcare in India
India’s preventive healthcare sector, encompassing fitness, wellness, early diagnostics, and more, is projected to reach a value of $197 billion by 2025, growing at a Compound Annual Growth Rate (CAGR) of 22%, according to a report by Redseer Strategy Consultants in collaboration with Chiratae Ventures and Amazon Web Services (AWS). The report emphasizes the increasing focus on preventive care in India and the significant role of technology in delivering affordable and personalized healthcare solutions.
Survey reveals growing inclination towards preventive health among Indians
The report highlights a shift in mindset towards preventive healthcare among Indians, especially in the wake of the COVID-19 pandemic. A survey conducted among over 1,000 individuals revealed that 40% of the respondents were highly inclined towards preventive health measures. Another survey conducted among health-conscious individuals showed active tracking of health parameters and a willingness to invest in preventive healthcare practices. These findings indicate a growing demand for preventive health solutions in India.
Health Tech startups leverage technology to tap into the preventive health opportunity
Over the past three years, more than 40 preventive healthcare technology (Health Tech) startups in India have raised approximately $1 billion in funding. These startups are leveraging advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT) to generate, digitize, and analyze health data. With the rollout of the Ayushman Bharat Digital Mission (ABDM), the availability and utilization of health data are expected to further augment the growth of Health Tech startups in India.
AWS supports startups in building transformative healthcare solutions
AWS, the cloud computing platform, is empowering Health Tech startups with the tools and expertise needed to develop innovative digital healthcare solutions. Kumara Raghavan, Head of AWS Startups India, highlighted the potential of cloud technologies like AI, analytics, and IoT in monitoring health, reducing healthcare costs, improving collaboration, and enabling faster development of new treatment paths. AWS ensures the security and privacy required by Health Tech startups and aims to support preventive care initiatives.
Corporates and healthcare businesses enter the preventive health space
The report notes the entry of diversified corporates and healthcare businesses into the preventive health sector. These entities are partnering with startups or developing their own programs and digital platforms. This collaboration aims to deliver better health outcomes, lower healthcare costs, and enhance the overall healthcare experience for Indian consumers.
In conclusion, India’s preventive healthcare sector is poised for significant growth, driven by increased awareness, technology adoption, and collaborations between startups and established players. The shift towards preventive care offers opportunities for startups to create awareness, improve accessibility, and enhance affordability. This transformative approach has the potential to deliver better health outcomes for the Indian population.
