India offers a unique market opportunity for healthcare innovators around the world. Over 1.2 billion people call India home and the vast majority pay for healthcare expenses out-of-pocket. Given this environment, healthcare providers are driven to new ideas that improve care and reduce costs.
The Indian healthcare market is expected to grow to $280 Billion by 2020 and the current value of the medical device/diagnostics market is estimated at $3 Billion and growing. The private sector healthcare providers participating in this program range from multi-specialty hospital networks to specialty clinics and even lab networks. Their facilities serve regions across India with over 60,000 beds and 400 locations. Healthcare providers have expressed an interest in tools that service both urban and rural populations.
THE INDIAN HEALTH CARE MARKET IS EXPECTED TO GROW TO
CURRENT VALUE OF INDIAN MEDICAL DEVICE & DIAGNOSTICS MARKET
TELEMEDICINE MARKET EXPECTED TO BE VALUED AT
Healthcare in India faces the growing challenges of access and affordability. Technology has the ability to address the needs of providers and change the dynamic of health care delivery. TechEmerge has the opportunity to catalyze the adoption and use of health technologies in India in order to improve patient outcomes and create business opportunities for health service providers and young technology companies.
Immediate technology needs identified by the majority of healthcare providers affiliated with TechEmerge include:
TechEmerge identified promising health technology innovators globally and matched their services with interested health care systems in India. These pairs have gone onto field test the technology to explore how technology adoption can benefit health care in India.