Top 10 Best Healthtech Companies in India 2023

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Top 10 Best Healthtech Companies in India 2023

UK healthtech startups to watch | Computerworld

Healthtech companies, also known as digital health companies or healthcare technology companies, are businesses that utilize modern technology to enhance and streamline healthcare services. They work to improve various aspects of healthcare and medicine, including patient care, medical data management, health education, diagnostics, therapeutics, and administration.

Healthtech is a broad and rapidly growing field that encompasses numerous sub-fields, including but not limited to:

Telemedicine: This involves providing medical services remotely through digital platforms, enabling patients to consult with healthcare professionals without having to visit a clinic or hospital physically.

Electronic Health Records (EHRs): Healthtech companies develop systems to create, store, and manage patients’ digital health records, making it easier for healthcare professionals to access and share patient information.

Wearable Devices: These include devices such as smartwatches and fitness trackers that monitor various health metrics, including heart rate, sleep patterns, physical activity levels, and more.

Artificial Intelligence in Healthcare: AI is used in various applications, such as predicting diseases, personalizing treatments, improving drug discovery, and automating administrative tasks.

Healthcare Analytics: This involves using data analysis tools to gain insights from large amounts of health data to improve patient outcomes, reduce costs, and make more informed decisions.

mHealth Applications: Mobile health applications allow users to monitor their health and wellness, access health resources, schedule appointments, and more using their smartphones.

Genomics and Personalized Medicine: Companies in this field use genomic information to provide personalized healthcare solutions, such as tailored treatment plans or individualized drug prescriptions.

Virtual Reality/Augmented Reality in Healthcare: VR and AR are used for various applications, including medical training, patient treatment, therapy, and surgery simulation.

Why Healthtech Companies are important

11 Indian Healthtech Startups To Watch Out For In 2018 [Startup Watchlist]

Healthtech companies play an increasingly important role in the healthcare ecosystem for several reasons:

Improved Patient Care: Healthtech solutions enable healthcare professionals to provide better care to patients. For example, telemedicine platforms allow patients to consult with doctors remotely, making healthcare more accessible. Wearable devices and mHealth apps empower patients to monitor their own health and wellness.

Increased Efficiency: Healthtech solutions can streamline administrative tasks, reducing costs and freeing up more time for healthcare providers to spend on patient care. For instance, electronic health records (EHRs) make it easier to access and share patient information.

Enhanced Decision-Making: Healthtech companies provide advanced data analytics tools that can offer valuable insights for healthcare providers, helping them make informed decisions about patient care. Artificial Intelligence (AI) can further augment this by predicting disease progression, personalizing treatments, and even assisting in drug discovery and development.

Promotion of Preventive Care: With tools like wearable devices and health apps, individuals can track various health metrics, helping them maintain a healthy lifestyle and potentially identify health issues early. This focus on preventive care can lead to healthier populations and reduced healthcare costs in the long run.

Access to Care: Telemedicine and mHealth applications are particularly beneficial in remote or underserved areas, where access to healthcare professionals may be limited.

Personalized Medicine: Healthtech advancements, particularly in genomics, are paving the way for personalized medicine, where treatments are tailored to individual patients based on their genetic makeup.

Research Advancements: Technologies in healthtech can expedite research, aiding in the discovery of new treatments, therapies, and interventions.

History of Healthtech Companies in India

The history of healthtech companies in India is relatively recent, paralleling global developments in health technology, but has shown remarkable growth and innovation.

Early Years (Late 1990s – Early 2000s): The earliest healthtech companies in India emerged in the late 1990s and early 2000s, around the same time that the country was making strides in IT and software services. These early companies often focused on digitizing medical records and creating software for hospital management.

Growth Phase (Late 2000s – Early 2010s): In the late 2000s and early 2010s, healthtech in India began to see more significant growth. This was driven by increasing internet penetration, the rise of smartphones, and improving digital literacy. Companies began developing health apps, telemedicine platforms, and online pharmacies during this time.

Maturity Phase (Mid 2010s – Present): The past decade has seen a boom in the healthtech sector in India, marked by a proliferation of startups and increased investment in the sector. Companies have emerged across a wide range of sub-fields, including AI in healthcare, wearable technology, genomics, and digital therapeutics. The country has also seen significant growth in online pharmacies and telemedicine platforms.

Key events that have influenced the trajectory of healthtech in India include the government’s push for digitization in healthcare, as seen with the Digital India initiative and the National Digital Health Mission. The COVID-19 pandemic has also played a role, accelerating the adoption of digital health services in the face of social distancing measures and increased health awareness.

Today, India’s healthtech sector is characterized by innovation, entrepreneurship, and a focus on addressing the significant healthcare challenges that the country faces. These include increasing access to healthcare services in rural areas, addressing a shortage of healthcare professionals, and managing the rising burden of chronic diseases. Healthtech companies are poised to play a crucial role in addressing these challenges and transforming healthcare delivery in India.

Benefits of Healthtech Companies

Healthcare|NTT DATA

Healthtech companies offer numerous benefits that contribute to better health outcomes, more efficient care delivery, and increased access to health services. Here are some of the main benefits:

Improved Patient Care: Healthtech solutions often enable healthcare providers to offer higher quality care. For example, telemedicine can make it possible for a patient to receive medical advice without leaving their home, which can be especially beneficial for elderly or disabled individuals, or those living in remote areas.

Increased Efficiency: Healthtech can streamline numerous administrative tasks, which can lead to cost savings for both healthcare providers and patients. Electronic health records (EHRs), for instance, can improve efficiency by making it easier for doctors to access and share patient information.

Enhanced Decision Making: Healthtech companies often offer data analytics tools that can provide valuable insights for healthcare providers, helping them make more informed decisions about patient care. Additionally, artificial intelligence (AI) can assist with everything from predicting disease progression to personalizing treatment plans.

Better Disease Management: Many healthtech tools enable better management of chronic diseases. Patients can use mobile health apps and wearable devices to monitor their condition and share information with their healthcare providers in real-time.

Preventive Care: Healthtech also has a significant role in preventive care. Tools like fitness trackers, wellness apps, and telehealth platforms can promote healthy behaviors, enable early detection of potential health issues, and monitor ongoing health conditions.

Expanded Access: By enabling remote consultations and online health information, healthtech can expand access to healthcare services, particularly in underserved areas.

Personalized Treatment: With the rise of genomics and precision medicine, healthtech companies can offer more personalized treatment options based on an individual’s genetic makeup.

Improved Research and Development: Healthtech tools can expedite and enhance medical research, leading to faster development of new drugs, treatment strategies, and understanding of diseases.

 

Best Healthtech Companies in India

Top Healthtech Innovations in Use in Indian Medical Facilities

Practo
1mg
Portea Medical
Lybrate
CureFit
Medlife
mfine
PharmEasy
Care24
HealthifyMe

 

Practo

Practo – India's home for health - Digital Innovation and Transformation

Practo is a leading healthtech company in India that leverages technology to make healthcare more accessible and efficient. The company was founded in 2008 by Shashank ND and Abhinav Lal, and it’s headquartered in Bangalore, India.

Practo offers a variety of services:

Online Appointments: Practo operates a platform that allows patients to search for doctors by specialization, location, and patient reviews, and then book appointments directly through the platform.

Online Consultations: Practo offers a platform for online consultations, enabling patients to connect with healthcare professionals digitally, which can be particularly useful for individuals in remote locations or those with mobility limitations.

Order Medicines: Patients can order prescription medicines through Practo’s platform, and have them delivered directly to their homes. This service is particularly beneficial for patients with chronic conditions who require regular medications.

Digital Health Records: Practo allows patients to securely store their health records on the platform, which can be easily accessed and shared with healthcare providers as needed.

Lab Tests Booking: Patients can book diagnostic tests and health checkups from reputed, certified diagnostic labs and get the samples collected from their home.

Practo Pro for Healthcare Providers: This is a comprehensive tool for healthcare providers, helping them manage appointments, digital consultations, online presence, and patient records.

Practo’s mission is to help improve human longevity by simplifying healthcare and making it more accessible. The company’s platforms connect millions of patients to over 100,000 healthcare providers around the world.

1mg

1mg Company Profile - Online Drug Delivery Platform | Funding, Revenue

1mg is one of the leading healthtech companies in India, with a focus on making healthcare accessible, understandable, and affordable for a billion Indians. The company was launched in 2015 by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan after it was spun off from HealthKart, a general wellness eCommerce store.

1mg’s platform offers a variety of services:

Online Pharmacy: 1mg operates an online pharmacy where users can order prescription medicines, over-the-counter drugs, and healthcare products. The platform also allows users to upload their prescriptions for review and validation.

Diagnostics Services: 1mg partners with diagnostic labs and offers users the ability to book health check-ups and diagnostic tests online. The samples are collected from the patient’s home, and the reports are delivered online.

Online Consultations: The platform enables users to consult with certified doctors from various specialties online.

Health Information: 1mg provides reliable, comprehensive, and understandable health information to users. The platform includes a database of medicines with detailed information about their composition, uses, side effects, and more. It also provides health tips and articles written by experts.

Ayush: This segment of 1mg’s platform is dedicated to Ayurvedic and homeopathic medicines, offering a wide variety of natural and alternative treatment options.

1mg aims to make healthcare a transparent, understandable, and affordable experience for its users. They have leveraged technology to create a seamless healthcare experience that connects users with various healthcare services conveniently and efficiently.

Portea Medical

Healthcare at Home: India's #1 Home Care Services

Portea Medical is a prominent healthtech company in India that provides in-home healthcare services. It was founded in 2013 by Zachary Jones and Karan Aneja and is based in Bangalore, India. Later, it was taken over by Meena Ganesh and K Ganesh, well-known entrepreneurs in India.

Portea Medical offers a wide range of services:

Primary Care: This includes general physician, nursing, physiotherapy, and attendant/home health aide services delivered at the patient’s home.

Chronic Disease Management: Portea assists in managing various chronic diseases, providing necessary medical care at home for conditions like diabetes, arthritis, Alzheimer’s, cardiovascular diseases, etc.

Post-Hospitalization Care: Portea provides comprehensive post-hospitalization care at home, including wound care, physiotherapy, nutritional care, and medication management.

Elder Care: They provide dedicated services to meet the unique healthcare needs of elderly patients, such as managing chronic conditions, physiotherapy, everyday care, and more.

Lab Tests at Home: Patients can book lab tests, after which trained lab technicians come to collect samples from the comfort of the patient’s home.

Medical Equipment Rental: Portea also rents out medical equipment to patients at their homes, including wheelchairs, oxygen concentrators, hospital beds, and more.

Vaccination at Home: Portea offers at-home vaccination services for convenience and comfort.

Portea’s mission is to bring world-class healthcare to the home, making healthcare more accessible, comfortable, and affordable. They aim to help patients recover and manage their health in the comfort of their homes with the utmost care and compassion.

Lybrate

Online Doctor Appointment | Ask A Doctor Online | Lybrate

Lybrate is an Indian healthtech company that connects patients and doctors in a digital environment. Founded in 2014 by Saurabh Arora and Rahul Narang, Lybrate offers a unique online platform where patients can seek medical help and advice, while healthcare professionals can extend their services beyond the confines of their clinics.

Lybrate offers the following services:

Online Consultations: Lybrate provides a platform for patients to consult with certified doctors from various specialties via text, voice, or video call.

Ask a Question: Patients can ask health-related questions anonymously, which are answered by certified doctors on the platform. This feature is beneficial for those who have minor queries or are hesitant to go for a direct consultation.

Health Feed: Lybrate offers a feed of health tips, articles, and advice from medical professionals to help users stay informed about their health and wellness.

Lybrate Lab+: Lybrate has partnerships with diagnostic labs, allowing users to book health check-ups and diagnostic tests online. The samples can be collected from the patient’s home and the reports are made available digitally.

Lybrate Cash: Lybrate has its own digital currency, Lybrate Cash, which users can earn and use for availing services on the platform.

Health Products: Users can purchase health products, including nutrition supplements and personal care items, from the platform.

Lybrate’s mission is to make healthcare more accessible to people and give them the freedom to make informed decisions about their health. By leveraging technology, Lybrate aims to bridge the gap between healthcare providers and patients.

CureFit

Curefit Builds an Empowered Support Team & Achieves 97% Adherence to SLAs  with Freshdesk

CureFit is a health and fitness tech startup based in India. Founded in 2016 by Mukesh Bansal, former CEO of Myntra, and Ankit Nagori, former Chief Business Officer at Flipkart, CureFit operates in the broader healthtech domain, focusing on holistic health and well-being.

CureFit offers several services through its different brands:

Cult.Fit: This is a chain of fitness centers offering group workout formats, including strength and conditioning, boxing, yoga, and more. They also provide live fitness classes online.

Eat.Fit: This is a healthy food delivery service aimed at providing balanced, nutritious meals. It caters to a variety of dietary preferences.

Mind.Fit: This brand offers mental wellness services. It includes live classes on yoga and meditation, and counseling sessions with mental health professionals.

Care.Fit: This is a telemedicine service that provides online consultations with doctors. It also offers health check-ups and lab tests.

CureFit’s approach to health and wellness is holistic, combining exercise, nutrition, and mental well-being. The company’s mission is to make fitness fun and easy, and they leverage technology to offer a seamless, integrated health and wellness experience.

Medlife

Business Model of Medlife – StudiousGuy

Medlife is a prominent healthtech company in India that operates as an online pharmacy and healthcare platform. It was founded in 2014 by Tushar Kumar and Prashant Singh.

Medlife offers a range of services:

Online Pharmacy: Medlife operates an online platform where users can order prescription medicines, over-the-counter drugs, and healthcare products. The platform enables users to upload their prescriptions for validation and facilitates easy doorstep delivery.

Diagnostic Services: Medlife provides diagnostic services in collaboration with certified labs. Users can book lab tests online, and trained phlebotomists visit their homes to collect samples. The reports are then made available digitally.

E-Consultations: Medlife offers online consultations with qualified doctors across various specialties. Users can seek medical advice and discuss their health concerns from the comfort of their homes.

Health Articles and Information: Medlife provides educational health articles and information on various health topics, helping users stay informed about their well-being.

Medlife aims to make healthcare more accessible, affordable, and convenient for individuals across India. By leveraging technology, the company streamlines the process of ordering medicines, accessing healthcare services, and obtaining diagnostic reports.

 

mfine

MFine - Growth of the Startup and its Merger with LifeCell!

mfine is a healthtech company based in India that offers an AI-powered healthcare platform connecting patients with doctors and specialists. The company was founded in 2017 by Prasad Kompalli and Ashutosh Lawania.

mfine provides the following services:

Online Consultations: mfine enables users to consult with doctors from various specialties through its mobile app. Users can chat, have voice calls, or conduct video consultations with healthcare professionals.

Digital Health Records: Users can securely store their health records on the mfine platform, making it easily accessible for future consultations and reference.

Diagnostic Tests and Reports: mfine allows users to book diagnostic tests at partnered labs and receive the reports digitally through the platform.

Medicine Delivery: Users can order medicines online through mfine’s partnered pharmacies, ensuring convenient doorstep delivery.

Post-Operative Care: mfine offers specialized post-operative care programs, providing personalized medical support and guidance to patients during their recovery period.

mfine leverages artificial intelligence (AI) to assist doctors in making accurate diagnoses and treatment recommendations. Their focus is on making healthcare accessible, affordable, and patient-centric by connecting individuals with doctors remotely and eliminating the need for physical visits in many cases.

It’s worth noting that the services and features offered by mfine may have evolved since my last update. Therefore, it’s advisable to visit the mfine website or app for the most up-to-date information.

PharmEasy

PharmEasy deploys Unicommerce's integrated SaaS platform for its  marketplace operations

PharmEasy is a leading healthtech company in India that operates as an online pharmacy and healthcare platform. It was founded in 2015 by Dharmil Sheth, Dhaval Shah, Hardik Dedhia, and Siddharth Shah.

PharmEasy offers the following services:

Online Pharmacy: PharmEasy operates an online platform where users can order prescription medicines, over-the-counter drugs, healthcare products, and medical equipment. The platform facilitates hassle-free home delivery of the ordered items.

Diagnostic Services: PharmEasy provides diagnostic services through partnerships with certified laboratories. Users can book diagnostic tests online, and trained professionals collect samples from their homes. The reports are then made available digitally.

E-Consultations: PharmEasy offers online consultations with qualified doctors across various specialties. Users can seek medical advice and discuss their health concerns through text, audio, or video consultations.

Healthcare Products: PharmEasy offers a wide range of healthcare products, including wellness products, personal care items, baby care products, and more.

PharmEasy’s aim is to make healthcare services accessible, convenient, and affordable. By leveraging technology, they simplify the process of ordering medicines, obtaining diagnostic tests, and accessing healthcare consultations.

 

Care24

Home Nurses, Patient Attendants, Physios and Elder Care Services

Care24 is a prominent healthtech company in India that specializes in providing in-home healthcare services. It was founded in 2014 by Vipin Pathak, Abhishek Tiwari, and Garima Tripathi.

Care24 offers a range of services:

Nursing Care: Care24 provides professional nursing care services, including wound dressing, injections, medication administration, and monitoring vital signs.

Physiotherapy: They offer physiotherapy services to help patients recover from injuries, surgeries, or manage chronic conditions. This includes exercises, manual therapy, and other rehabilitation techniques.

Elderly Care: Care24 has dedicated services for elderly care, including assistance with activities of daily living, medication management, companionship, and other support services.

Post-operative Care: They provide specialized care for patients after surgery, ensuring a smooth recovery and assisting with wound care, pain management, and rehabilitation.

Newborn and Infant Care: Care24 offers skilled caregivers for newborns and infants, providing support with feeding, bathing, diaper changes, and general care.

Attendant and Home Health Aide Services: They provide trained attendants and home health aides to assist with personal care, mobility, and general support for patients who require assistance at home.

Care24’s focus is on delivering high-quality, personalized care in the comfort of patients’ homes. By leveraging technology, they connect patients with qualified healthcare professionals, enabling convenient access to healthcare services.

HealthifyMe

Healthtech
HealthifyMe is a prominent healthtech company in India that offers a mobile health and fitness app. Founded in 2012 by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, HealthifyMe aims to empower individuals to achieve their health and fitness goals through personalized coaching and tracking.

HealthifyMe provides the following services:

Personalized Diet Plans: HealthifyMe offers personalized meal plans and nutrition guidance tailored to individual needs, dietary preferences, and health goals.

Calorie Tracking: Users can track their daily calorie intake and monitor their nutritional balance through the app, which includes a comprehensive food database.

Fitness Tracking: HealthifyMe allows users to track their physical activities and monitor progress towards fitness goals. It supports tracking various exercises, steps, distance, and more.

Water Intake Tracking: The app helps users track their daily water intake, ensuring adequate hydration.

Weight Management: HealthifyMe offers tools to monitor weight, set weight loss goals, and track progress over time.

Coaching and Consultations: Users can access expert coaches, nutritionists, and fitness trainers who provide guidance, support, and motivation through the app.

Community Support: HealthifyMe provides a community platform where users can engage with like-minded individuals, share experiences, and receive support.

HealthifyMe’s goal is to make healthy living simple, accessible, and sustainable. By combining technology, data analytics, and expert guidance, the company aims to help individuals make informed decisions about their health and achieve their wellness objectives.

 

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