In this blog, we will discuss the emerging trends in preventive healthcare in India, exploring how technology is steering a transformative shift towards proactive health management. We’ll also spotlight the rise of innovative startups championing preventive health initiatives, highlighting the opportunities they bring for new entrants in the healthcare space.
Curative Healthcare
Curative healthcare refers to the kind of medical care that focuses on treatment and management of diseases or health conditions which have already developed.
Curative healthcare involves various medical interventions such as surgeries, medications, therapies, and other medical procedures aimed at addressing the specific ailment or condition a person is facing. It’s primarily reactive and aims to manage or eliminate the disease or its symptoms after they have manifested.
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Preventive Healthcare
In simpler terms, the saying “Prevention is better than cure” highlights the preventive healthcare approach.
This approach is now being focussed by modern startups in the healthcare industry. The focus of these startups is on proactive measures to maintain health rather than dealing with illnesses after they occur. Their primary message revolves around maintaining fitness, adopting healthy healthcare habits, eating habits and leading a wholesome lifestyle to minimize the risk of non-communicable diseases (NCDs) like heart disease, stroke, lung cancer, cystic fibrosis, and diabetes.
This is a fact that we all know, an unhealthy diet, lack of exercise, or engaging in smoking or excessive drinking can lead to risk of developing these severe diseases, which are major causes of mortality.
In this blog, you will be able to understand the scope of preventive healthcare businesses in India.
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Emerging Trends: Preventive Healthcare in India
The pandemic taught us why it is important to follow a good diet and adopt positive habits. This is one of the crucial reasons why people have significantly started giving immense value to good health and well-being.
Apart from this, India is offering the most economical internet services worldwide, and also it is home to over 900 million mobile devices, and class-leading data pools, generating a powerful technology-led revolution in preventive healthcare.
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All these factors have resulted in a shift of the nature of cure in India from curative (treatment after falling ill) to preventive (pre-empting illnesses) through early diagnostics, consultations, fitness solutions, fitness gadgets and much else.
And, It was rightly said by Thomas A. Edison “The doctor of the future will give no medicine, but will instruct his patient in the care of the human frame, in diet, and the cause and prevention of disease”
According to a joint report by RedSeer Strategy Consultants, Chiratae Ventures and Amazon Web Services (AWS), the Indian preventive healthcare market is expected to double in size from $93 billion in 2021 to $197 billion by 2025, at a CAGR of 22 per cent. Comparatively, the curative healthcare segment, which constituted 64 per cent of the total healthcare spends in India in 2021-22, is growing at 15 per cent.
These figures show us that India has large potential in this market in the forthcoming years.
With over 65% of India’s population under 35 years of age, presenting a vast addressable market. This demographic figure stands as the prime audience for preventive healthcare products and services.
Role of technology in causing a shift towards Preventive Healthcare
Technology is shaping the future of preventive healthcare, offering new and creative ways to find health problems, handle ongoing conditions, and encourage healthy living.
Today, a doctor sitting at one corner of the country is able to monitor the blood pressure, heart rate and other important vitals of the person sitting on the other corner of country and is able to provide real time feedback and suggest that certain medications needs to be given to the patient to administer his/her health condition.
What’s more? Artificial Intelligence (AI) models can now predict, to a certain degree, the possible time periods for death from a heart attack. Research showed how collected data of over 30,000 points in heartbeats for 256 patients, when combined with health records of patients for a span of eight years along with a machine-learning survival model using three-dimensional cardiac motion crunched out a time period when an individual was most likely to suffer an heart attack. Such critical data is already helping many doctors save precious lives, and ensure that patients are adhered to protocols and hence, leading healthier lives.
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Technologies such as AI are not only efficient in treating the condition but it has turned out to be a gamechanger in the preventive healthcare system.
For instance, machine learning algorithms applied to mammography have significantly enhanced breast cancer detection. A study published in January 2020 in Nature demonstrated how AI could swiftly identify diseases, aiding doctors in saving more lives. In India, approximately 3.16% of our GDP, roughly ₹5.96 lakh crores, is dedicated to healthcare, with individuals personally covering 48.21% of this expenditure out of pocket.
According to a comprehensive study conducted in May 2022 by Harvard University and the government think tank Niti Aayog, medication constituted the largest portion of personal healthcare spending, followed by expenses related to travel, food, and accommodation.
The Rise of Preventive Health Innovators/Startups
More than 40 startups specializing in preventive healthcare technology, also known as “HealthTech,” have collectively secured approximately $1 billion in funding over the past three years.
They strive to capitalize on opportunities across diverse sectors, encompassing nutrition management, health monitoring, lifestyle tracking, comprehensive health assessments, and the enhancement of both mental and physical well-being.
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These emerging small and medium enterprises leverage cloud computing to build and enhance their applications, facilitating the collection, digitization, and analysis of extensive health-related data using advanced technologies such as the Internet of Things (IoT), data analytics, artificial intelligence (AI), and machine learning (ML).
For example, over 30% of the top 40 well-funded HealthTech startups employ AI/ML for tasks like analyzing medical images, extracting documents, incorporating chatbot functionalities, tailoring personalized solutions, and predicting health risks. The introduction of the Ayushman Bharat Digital Mission (ABDM) is expected to further enhance accessibility to data and the application of these advanced technologies.
an increasing number of not just startups but also diverse corporate entities and healthcare firms are entering the realm of preventive healthcare. They achieve this by forming partnerships with startups or developing their own initiatives and digital platforms. This shift from reactive to proactive healthcare is anticipated to lead to enhanced health outcomes and reduced healthcare expenses for Indian consumers.
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Examples of companies providing diverse range of Preventive Healthcare Services
Numerous companies are addressing the consumer demand for a diverse range of preventive healthcare services. Here are a few examples
HealthifyMe
HealthifyMe is a Bengaluru-based startup that has significantly impacted the health and wellness industry in India. Founded in 2012, the company, through its app, provides personalised diet and fitness plans to its users.
What sets HealthifyMe apart from its competitors is its use of AI and machine learning algorithms to create tailor-made meal and workout plans for its users. The startup has over 25 million users across India and has raised $75 million in funding until now. Some of the key features of HealthifyMe include personalised diet plans, fitness tracking, integration with wearables, and 24/7 support.
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Dozee
Dozee is a health-tech startup that has introduced a contactless health monitoring system. The system uses AI and machine learning technology to monitor vital signs such as heart rate, respiration rate, and sleep patterns, without any physical contact with the user.
Users can access the data through a mobile app with real-time health insights, which can help them take proactive healthcare measures to maintain their health.
Some of the key features of Dozee include accurate and reliable sleep monitoring, personalised sleep insights, seamless integration with health apps, and family sleep tracking. Founded in 2015 and with over $6 million in funding and partnerships with leading hospitals and healthcare providers in India, Dozee is well-positioned to have a significant impact on the healthcare industry and revolutionise how people monitor their health.
Cure.fit
This startup is pioneering the future of health and wellness in India with a holistic approach that includes healthy eating, exercise, and mental well-being. Founded in 2016, Cure.fit has a fitness app that offers personalised workout routines and virtual workouts. Its AI-powered nutritionist app provides personalised meal plans and nutrition advice. It also offers mindfulness and meditation sessions to improve mental health.
Goqii
The rapid pace of adoption of wearable devices such as fitness trackers and smartwatches is also contributing to this trend. Fitness technology start-ups such as GOQii are driving growth in preventive healthcare by unlocking the power of consumers’ health and lifestyle data.
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Opportunities for New Startups
The preventive healthcare market is poised for immense growth and is expected to gain greater momentum than the curative market.
Startups in preventive healthcare have numerous opportunities due to increasing awareness and emphasis on wellness. Some potential areas for startups include:
- Digital Health Solutions: Creating apps, wearable devices, or platforms that monitor health metrics, offer personalized wellness plans, track fitness activities, or provide mental health support remotely.
- Nutrition and Diet Management: Developing innovative approaches for personalized nutrition, meal planning, or dietary assessment tools that help individuals make healthier food choices.
- Fitness and Wellness Technology: Introducing novel fitness equipment, virtual fitness classes, or wellness programs that promote physical activity and overall well-being.
- Health Screening and Early Detection Tools: Designing affordable and accessible devices or services for early disease detection, at-home testing kits, or telemedicine platforms that enable preventive consultations.
- Behavioral Health and Mental Wellness: Creating apps or services focused on mental health, stress reduction, mindfulness, or therapy accessible to wider populations.
- Corporate Wellness Programs: Providing workplace wellness solutions to enhance employee health and productivity, including stress management, fitness activities, and mental health support.
- AI and Data Analytics for Health Prediction: Utilizing AI-driven analytics to predict health risks, analyze health data for personalized preventive strategies, or develop predictive models for disease prevention.
- Community Health and Education Initiatives: Establishing programs that educate communities about preventive measures, lifestyle changes, and access to healthcare resources.
- Healthcare Partnerships and Collaborations: Partnering with established healthcare providers or insurance companies to integrate preventive care into existing healthcare systems or insurance plans.
- Senior Care and Remote Monitoring: Creating solutions for remote monitoring of elderly individuals or patients with chronic illnesses to ensure continuous preventive care.
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Conclusion
In a nutshell, many technologies and applications are being developed to target the health market which is not only proving to be profitable for the emerging businesses but also helping the Indian population to lead healthier and holistic lifestyles.
Also, Did you know that 75% of all our doctors are concentrated in cities and towns, while 68.84% of the national population resides in rural areas?
Startups or SMEs that focus on preventive healthcare can tap into these opportunities by addressing unmet needs, leveraging technology, and providing accessible and affordable solutions that empower individuals to take proactive steps towards maintaining their health and well-being.
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