Since the pandemic, the adoption of e-health platforms and applications by various healthcare startups and companies has increased. The main reason being―consumers are becoming comfortable with the ‘healthcare at your doorstep’ concept and suggesting it to others. Here’s a quick synopsis of the report on India’s e-healthcare business from RedSeer, a leading healthcare consulting firm.
RedSeer’s Report: Indian ‘EHealth’ at a Tipping Point
The healthcare industry is booming in India with more and more businesses specialising in fitness and nutrition, diagnosis, treatment, as well as disease management broadly called “eHealth”.
Since 2017, the Net Promoter Score for health care has increased by 47%, showing that customers are more likely than ever to not only use but also refer healthcare care platforms to others.
Customer Acquisition Costs have decreased in the last year, indicating that there is still the possibility for organic growth in this industry. Quick commerce—the delivery of same-day goods—has been a key driver in the advancement of eHealth. This segment is also benefiting from cross-selling.
Before COVID, e-pharma has been a major force in the e-health business, and substantial discounting in this vertical has been a fuel for growth.
Analysts believe that e-health will continue to rise and become increasingly essential in the healthcare industry. E-health continues to delight two years after the COVID-induced pandemic and shows no signs of slowing down.
During Ground Zero 6.0, RedSeer’s Engagement Manager, Kushal Bhatnagar, remarked, “India’s health tech sector provides significant value to consumers and businesses alike, and it is embarking on an exciting disruptive path that could accelerate its growth from $9-12 billion in GMV by 2025 to $40 billion by 2030.”
Technology has opened up more avenues of access to various facilities in India’s traditionally burdened healthcare system.
While the Indian healthcare system is grappling with difficulties such as limited access to healthcare, a high burden of healthcare bills, and quality concerns with pharmaceuticals, diagnostic labs, and general infrastructure, health tech platforms are becoming the go-to option for customers, from offering diagnostic tests and medication to functioning as enablers of surgeries.
Final Takeaway
eHealth care is a rapidly growing industry with tremendous potential. In the near future, we might see health-tech companies working with different local and international governments to increase access to healthcare in developing countries.
However, this will not be cheap, and any business benefiting from increasing incomes and spending on healthcare also needs to invest in curing diseases that are currently prevalent, as this is more than likely to help increase their market share further.
So far, it seems that the health tech industry is moving in the right direction—however, only time can tell if it will continue doing so.
