Prashant Tandon, chair, IAMAI Health tech committee, and Dr Alexander Kuruvilla, co-chair, IAMAI HealthTech Committee cherry pick the health-tech trends that will shape our healthcare landscape in the years to come
Prashant Tandon, chair, IAMAI Health tech committee, & CEO & co-founder, TATA 1mg
The Indian healthcare sector is undergoing a rapid paradigm shift. There is accelerated technology adoption in healthcare driven by a clear consumer need across all stakeholders including the health tech companies, hospitals, insurance, corporates and the Government. With the ongoing pandemic, furthering health-tech adoption, and geopolitical changes coming into picture, India is poised to be at the center stage as one of the biggest contributors and possibly one of the biggest beneficiaries.
The rapid growth of Indian healthcare is being driven by several factors, including the increasing prevalence of chronic diseases, the growing middle class, and the government’s increasing focus on healthcare.
Health-tech is a fast-growing industry vertical within the broader healthcare sector, currently accounting for just 1 per cent. We are entering 2023 with the belief that the next phase of the Indian health-tech sector will witness the industry getting powered by innovation and new technologies like artificial intelligence, data analytics, and a move towards integrated and personalised preventative healthcare.
Some of the major trends that will shape our healthcare landscape in the years to come are omni channel healthcare delivery, telemedicine, artificial intelligence-assisted diagnosis, increasing demand for quality healthcare services, efforts towards cyber secure ecosystem and the expanding insurance coverage.
I strongly believe that India has a unique opportunity to lead the world in creating the next gen models of ensuring better quality affordable healthcare given our clear strengths of scale of data and high-quality innovation manpower.
Dr Alexander Kuruvilla, co-chair, IAMAI HealthTech Committee & Chief Healthcare Strategy Officer, Practo
In the last two years we have seen a paradigm shift in healthcare, from a traditional physical approach to an integrated digital approach. While it was the need of the hour to address the crisis, a lot more needs to be done. And in the coming years we will witness newer trends in digital healthcare that are here to stay. As the government makes significant efforts to speed up the transformation of the healthcare sector through digitization, innovation, and technology, the Ayushman Bharat Digital Mission (ABDM) is going to provide an impetus to this change.
Healthcare professionals will witness adoption of digital health records which will help improve accessibility and ensure better quality care. And patients will benefit from the convenience of digital healthcare. Over time, we will see the impact of digital health records in identifying trends, thereby focusing on preventive care and improving continuum of care.
That said, with health data increasingly becoming an important asset, the government is likely to put in place policies on the usage and exchange of data among different stakeholders including doctors, healthcare facilities, health tech companies and others in the ecosystem. The future of healthcare is certainly promising with quality at the centre of it.