The Indian health-tech market is expected to grow at a 39 per cent CAGR over FY2020 – FY2023 and is expected to reach $50 billion by 2033, according to RBSA Advisor’s latest report titled “Unleashing the Healthtech Potential”. According to the report, the health technology market currently stands at $2 billion, less than one per cent of the overall healthcare industry.
In India, the health-tech market can be broadly divided into six segments – Telemedicine, e-pharmacy, fitness & wellness, healthcare IT & Analytics, home healthcare and personal health management. Pharm-Easy, Cure fit, Practo are some of the significant health-tech start-ups that have caused a stir and taken the market by storm.
Mr Rajeev shah M&D & CEO of RBSA Advisors, said, “The pandemic and adoption of technology in healthcare has broughta quantum shift in the sector. In recent years, we have seen some of the most significant deals, and the Indian health-tech sector has received close to $1.6 billion in funding since 2017. There is a huge opportunity for growth within health-tech because of the meagre market share in the broader healthcare sector. The most crucial factors driving the growth currently are Covid-induced restrictions and safety protocols, and the acceptance of technology in the industry. As the industry is looking to grow at a phenomenal rate, the investors areready to invest in this sunshine sector”.