Algo Rhythm: Technology transforming Indian health-care ecosystem

Health care holds importance both at the individual and the country level. Its importance was well realised after the Covid wave that shook the world, says Sanjeev Malhotra, CEO, Centre of Excellence for IoT and AI at Nasscom, in a report that seeks to understand how technology is shaping health care. Here are the main highlights of the report, titled Healthcare in India — Transforming Through Innovation.

Health care is being reinvented

• 2.5x growth in health care market from 2016-22, expected to reach $370+ bn
• 2000+ health-tech startups in the Indian tech start-up ecosystem; $1.2+ bn funding raised in 2021 
• 4 health-tech unicorns in India
• 350+ health-tech startups in India
• 1.8x Increase in health care spending (2018-25E), with focused policies fuelling growth
• 30 mn tele-consultations through Health Ministry’s e-Sanjeevani telemedicine as of March 2022

Future of health care

• 3+mn requirement of doctors and nurses by 2025
• Major push will be seen in telemedicine, health insurance, and hospitals
• $5.5 bn telemedicine market by 2025, growing at a CAGR of 31%
• Telemedicine adoption during Covid-19:  80% North India, 50% - South /Western region, >30% - Eastern India
• Focus on building workforce, easing public procurement, Bharat startups and digitising primary care 
• 20% consultations on Tata 1MG platforms done by an AI doctor
• 75% reports are digitally accessed in some diagnostics labs; and AI chatbots respond to queries like rescheduling and order status

Factors fuelling innovation

• 70 years Increase life expectancy by 2025
• 16% Percentage of senior citizens by 2041
• 90 mn Number of diabetics by 2025
• $4.6 trn Costs of non-communicable diseases