The Indian healthcare market is expected to increase at a compound annual growth rate of 16% to $280 Bn at a CAGR of 22.9% by 2020, according to FICCI-KPMG.
The Indian healthcare market, like its global counterparts, is plagued by regulatory burden. The rules are confusing and the system is not at all transparent.
That’s where the role of an entrepreneur comes in. To disrupt the plagued system with technology and innovation – to save lives.
Changing lifestyle, growing disposable income, and higher Internet penetration has turned consumer focus to prevention rather than seeking a cure. To meet the demand, entrepreneurs are coming up with user-friendly, comprehensive, and fully-integrated platforms in the evolving space of health and wellness. Startups like Practo, 1mg, etc. have changed the consumption pattern of users in the field of healthcare.
A major component of the healthcare sector is hardware. Health monitoring gadgets and devices provide real-time information to the user. Here is a list of five startups working in hardware healthtech space.
Founded in February 2014 by former Indiagames CEO Vishal Gondal, GOQii is a digital health and fitness subscription service that combines one-on-one mobile personal coaching and fitness tracking technology to help the user shift to a healthier lifestyle and reach fitness goals. The company’s app can integrate with 35 major fitness bands including Jawbone, Fitbit, Garmin, Moov, Misfit, and Sony. Users have to decide on a goal and choose a coach to guide them on the application.