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.
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: