“Behind me is infinite power, before me is endless possibility, around me is endless opportunity.”
Past 10 years have seen an exceptional transformation in the way Indian customers shop. The outburst of E-Commerce has transformed the world of retail as well as the wholesale by storm and has engrossed the minds of entrepreneurs. With e-commerce outshining like never before, entrepreneurs are not only innovating but are also experimenting with the sectors they can work in.
Living in a globalized world brings up with it huge expectations in people. To take every single use of the huge network connecting people and supply of medical facilities is a cherry on top for the growth of online business.
Comfort starts from home and it is a jackpot if all you need is delivered to your doorsteps in the nick of time. Standing in the long queues for getting your appointment fixed, then again waiting for your turn to meet the doc. Not just two steps, its quite a long procedure. What if all of this is just a few clicks away? Yes we’re talking about online medicare industry.
There’s only one doctor for 1,700 people in India, according to World Bank’s 2012 data. Mobile, internet technology and telemedicine have served its purpose and reduced this patient handling deficiency. Online healthcare/medicare is the biggest sector to play in and has the largest scope giving the entrepreneurs a chance worth taking. The industry is expected to grow by $250 million in the upcoming 5 years in India. Rated at fourth position among “The 10 Most Acquisitive Indian Startups in 2015” one of the biggest names in the online healthcare sector is PRACTO. Funded by Sequoia Capital-Practo provides healthcare solutions. Practo enables patients to browse through doctor profiles online and book appointments, alongside it serves as a practice management solution for healthcare providers to manage patient data and digital healthcare records. Practo is active in 35 Indian cities.
India’s highest funded startups like NetMeds, Portea, Lybrate, Healthgenie, 1mg have enabled the customer to consult, fix an appointment, buy medicine, get a prescription and giving a feature of keeping the identity confidential. All the doctors associated are highly qualified and can be met in person & genuine medicines with the bill. Everything is just a click away.
The Indian healthcare sector is expected to grow at a rate (CAGR) of 22.9 per cent during 2015-20. Rising income level, greater health awareness, increased precedence of lifestyle diseases and improved access to insurance would be the key contributors to growth. Government has also started to show its interest in the sector. As per the Ministry of Health, development of 50 technologies has been targeted in the FY16, for the treatment of disease like Cancer and TB.
Having the brightest future, healthcare has taken and is taking E-Commerce to a different level. Healthcare E-Commerce today is like the time, when the mobile internet services were going smoothly and out of nowhere 3G came and we saw a drastic transformation which shook the technology sector.