Why Healthtech Is Thriving In Asia

Experts Decode The Plus Factor

- Nidhi Singh

With more people opting new technologies to improve treatments, the healthtech industry in Asia is on a steady growth path. From period tracker apps to blood pressure watches, the healthtech startups are offering an exciting range of options. Given its focus on preventive healthcare, the region is ripe for the entry of foreign players. According to a new report by advisory firm Galen Growth Asia, Asia HealthTech closed the year at a record-breaking US$6.3 Billion, confirming it as the second largest digital health ecosystem in the world. This is 1.5x of the investment quantum in 2017 and 2x in 2016.

There are several other factors which propel this market in Asia. Take a look.

DIGITAL COMES OF AGE

Lim Waimun, founder and chief executive officer of Singapore-based on-demand video consultation platform Doctor Anywhere, emphasizes that the geographical location, vast network of skilled professionals and partners and government support make Asia an ideal healthcare hub for tech companies. “Companies are utilising more online channels to connect with and educate their audience, thus fuelling growth in the industry,” says Waimun. Doctor Anywhere provides healthcare providers with more options for care delivery, improving their access and reach to patients. India, not to be left behind, has also taken some significant steps in the Asian health tech sector. The Government’s Ayushman Bharat Insurance Scheme promises health benefits to over 10 crore poor and vulnerable families.