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Business Today India
|February 19, 2023
The Covid-19 pandemic has triggered a massive transformation in the healthcare space. Expect much more in the next 25 years
SMARTWATCHES CHECKING vitals to highlight a potential medical condition. Robots performing medical procedures over 5G networks. Patients consulting doctors over video calls on a mobile phone. A government app helping vaccinate more than 2 billion people during a global pandemic. Twenty-five years ago, such events were in the realm of fiction, at least in India. Today, these are very real, recent happenings.
The adoption of technology has massively transformed the healthcare space in India in the past few decades, with the pandemic further accelerating the trend. What will the space look like in 2047, when India completes 100 years of independence? While it is difficult to accurately predict where the space will be, it is possible to spot a few trends that have emerged post-Covid-19. For instance, people have become conscious of leading a healthy lifestyle, and are ready to spend more on preventive health. Covid-19 also stretched healthcare infrastructure and service delivery to their limits, setting the stage for more investments and the inclusion of advanced technology to combat future pandemics and existing life-threatening diseases.
- The pandemic has set the stage for investments in the healthtech space to combat future pandemics and existing diseases
- 5G and tele-medicine consultations will have a significant impact on the future of the Indian healthcare sector
- With tech adoption in diagnostics, medical tech and digital health, many disruptive models from healthcare start-ups have emerged in recent times
- The global market for virtual or remote healthcare is expected to touch $450 billion by 2030, according to Statista
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