Indian healthcare industry

Indian Healthcare sector is evolving rapidly after the introduction of new age technologies and healthcare is an industry that affects everyone, but one that has historically had a reputation for less than positive customer experiences. India is leading the wave of innovation in the global healthcare market and the time has gone when the healthcare industry was just based on doctor and patient interaction and has now reached at the real time engagement without any geographical limitation while customer experience is now becoming a focus of many healthcare companies and clinics. India is poised to record further growth in its economy after the recession that flabbergasted almost all the major economies of the world, the early signs and post-recession economic reports all showing a positive upward trend. With advances in technology, the healthcare industry is becoming more aware and smarter to lead a healthy life and the growing importance of India in the international arena is also one of the reasons that have given rise to increased tourists and business travelers into the country, which has resulted in the growth of hospitality, airlines and other related sectors.

Doctors, hospitals, and health companies now have insight into all factors that can affect patient’s health and the consciousness of people especially for their health is resulting in the acceptance of more efficient and innovative systems among hospitals and other healthcare providers. Electronic health records are the foundation of the upcoming global data revolution, a significant change which already adopting a proactive approach towards health. They not only do away with physician’s illegible prescriptions, but its digital database of health records provides a foundation for pattern recognition, trend monitoring, traceability, machine-learning-based personalized outcomes and several more advantages as the seed of growth was already planted 2018 and 2020 is bearing fruits. The use of virtual reality has been proven to aid in the treatment and more companies are keen on making a virtual reality for the healthcare industry. Because of accessible and affordable healthcare systems, the market is set to grow even further. The new technologies are driving most changes in the industry as chatbots and digital assistants are riding the wave of artificial intelligence, 3D printing, Machine learning and VR for better compliance. Given Indians’ ability to adapt to technology faster, EHR is top on the Indian Healthcare market’s hype curve and The Indian healthcare industry is seen to be growing at a much rapid pace than it was anticipated before and is expected to become an Rs.12,60,000 Cr. by 2020.

The past two years in the Healthcare Industry have been marked with dramatic changes as the Indian government’s recent policies including the development of National Health Stack and SNOMED membership are very supportive of the market in this direction. According to a recent survey, approximately 94% of healthcare executives state that they plan to implement smart technology in their organizations, surgical robots being one of them. Emergency care is still in a very nascent stage all across India, now with the Medical Council of India (MCI) accepting Emergency Medicine as one of the specialties, there are huge opportunities for personnel in this area especially Nurses, Paramedics, Technicians and Emergency medicine specialized doctors while frugal surgical robotics will not just be an urban thing but will also enable rural physicians to provide the most efficient care possible. Apollo Hospitals has already begun to lead this movement, beginning with the south-Indian market.

Other technologies like AI and VR are creating a personalized environment for both parties, patients and providers, several companies are using AI to streamline their administrative work and decrease bureaucracy. AI framework uses machine learning which will further strengthen human and machine interaction. Whereas, VR is being used to reduce pain and relief treatments which are showing positive results in the industry. According to a recent study, children undergoing chemotherapy did better when they played games that absorbed their attention completely and also required lower doses of pain medication as they suffered less hypertension and many other studies have shown similar findings.