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India health-tech industry poised to hit USD 78.4 billion

Digital technologies are anticipated to offer swift and personalized clinical services to each patient through their handheld devices. New Age Technologies (NATs), including Artificial Intelligence (AI), the Internet of Things (IoT), mobile technologies, cloud computing, Big Data, and 5G, are becoming essential tools in the realm of “Smart Health.” Smart Health refers to an interconnected healthcare system that utilizes NATs for clinical analysis, treatment, medical setups, and hospital management.

Examples of Smart Healthcare systems include surgical robots, RFID-based supply chains, and integrated health management platforms or Health-stacks. These Smart Healthcare systems provide real-time connectivity to doctors, reduce treatment costs, and offer predictive, personalized information to patients.

For example, IoT-based wearable smart devices can track patients’ progress, help manage medical emergencies, and promptly notify healthcare providers.India’s National Health Policy 2017 aims to achieve “Universal Health Coverage for all citizens,” gradually transitioning from fragmented healthcare systems to a holistic approach using digital technologies.

The Ayushman Bharat scheme, launched in September 2018, is a notable nationwide public health insurance program that provides health coverage of up to 5 lakh rupees per family per year for secondary and tertiary care hospitalization through the ‘Abha-ID’ for each patient. Additionally, the National Digital Health Mission (NDHM), launched on August 15, 2020, aims to create an integrated healthcare system linking practitioners and patients digitally, allowing real-time access to health records. Driven by these national initiatives, along with the rise of health startups, increased healthcare spending, and growing demand for high-quality healthcare services, the health-tech sector in India is experiencing significant growth.

According to recent reports, the health-tech industry in India is expected to reach $6.5 billion by 2024 and $78.4 billion by 2033, with a compound annual growth rate (CAGR) of 28.67% during this period.India has already implemented initiatives such as the National Health Portal and the Health Management Information System (HMIS), with several state-level initiatives as well.

Programs like the CoWIN Vaccine Platform, the Aarogya Setu contact tracing app, and the eSanjeevini National Telemedicine Service Platform deserve special mention. Following the COVID-19 pandemic, private equity firms are increasingly investing in health tech companies. The health startup ecosystem in India primarily consists of six segments: telemedicine, pharmacy, fitness, wellness, IT healthcare, and home healthcare. Leading telemedicine startups such as Practo, 1mg, mFine, iCliniq, Digi-Doctor, and myUpchar are reporting impressive increases in tele-consultations.

These systems provide information on health indicators, identify individuals, verify them, and connect their health records with informed consent.However, the adoption of these technologies presents significant technical, legal, and socio-economic challenges. There is a lack of a cohesive and robust legal and regulatory framework, particularly in the health-tech domain. Security in smart healthcare is crucial, as it is an ecosystem susceptible to attacks or infiltration by individuals or hackers. The privacy of patients’ sensitive health data requires an extra layer of protection beyond what is currently available through India’s Digital Personal Data Protection (DPDP) Act.

Data interoperability and digital connectivity are essential for the seamless exchange of health data. The emerging 5G communication network in India can address this gap, but technological constraints hinder the widespread adoption of in-home health monitoring services. Healthcare specialists also face challenges such as limited access to and adaptability to digital technologies.

These issues are further compounded by inadequate logistics support, a shortage of skilled manpower, and a tech-resistant attitude among various stakeholders.

Drawing inspiration from the globally recognized Unified Payment Interface (UPI), a digital public infrastructure (DPI) for healthcare should be made accessible to all. Our anganwadi workers, in particular, should be supported by additional tech-savvy personnel. Capacity building for our healthcare providers and ensuring their access to digital devices and connectivity should be prioritized through common service centers (CSCs) and Public Health Centers (PHCs). Additionally, it is time for India to expand the scope of its Digital Personal Data Protection (DPDP) Act, 2023, by including special provisions for handling the sensitive health data of patients. With these efforts, every Indian will not only have easy access to but also trust the “Digital Doctor in their pocket.” Daily Pioneer

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