The Indian healthcare sector is vastly unorganised and unevenly distributed. Documentation and medical history are still largely non-existent, especially in Tier II and Tier III towns and cities. Higher patient to doctor ratio, treatment cost variations, lack of medical awareness, the need for faster diagnosis and treatment have all contributed to building untenable pressure on the system.
In its recent assessment of the Indian economy, the Organisation for Economic Co-operation and Development (OECD) identified India’s poor health outcomes as one of its major developmental challenges. India is a laggard in health outcomes not just by OECD standards, but also by the standards of the developing world.
A key reason behind the poor health of the average Indian is the low level of public investments in preventive health facilities and medical care facilities. Even when public health facilities are available, they are often of poor quality.
This gap has led to a surge in consumer-driven healthtech startups, and it seems Indian tech entrepreneurs have taken up the gauntlet to solve the complex healthcare problem in India.
As per Inc42 datalabs, 183 healthcare startups have been funded in the period of 2014-2016 (till October 2016). With the sector seeing an infusion of around $600 Mn investment, we felt it was time to deep dive into the nuances of healthtech startups in India over the last three years.