Top 10 Revolutionary HealthTech Startups in India

HealthTech Startups in India

When the global pandemic stretched India’s public healthcare system too thin, healthtech startups rose to the challenge and bridged a critical gap by bringing affordability, accessibility, and innovation into the fold. Prior to this, India’s primary care was riddled with challenges like – lack of preventive care, lack of healthcare infrastructure (specially in rural areas), and an acute shortage of doctors and nurses. But with startups revolutionising the healthcare sector that scenario is now changing for good. 

The number of DPIIT-recognised healthtech startups in India grew at a CAGR of 127% between 2016 and 2023, with over 10,000 startups as of 2023. Interestingly, 47% of these startups are from tier 2 and tier 3 cities, showcasing a widespread geographical presence.  

The growth in the number of these healthtech startups has also been met with fast adoption and acceptance from healthcare consumers. According to a report from Boston Consulting Group, India’s healthcare market could generate $37 billion in revenue by 2030. 

Also, Read: 10 Best Insurtech Companies in India

So What’s Causing The Rise of HealthTech Startups in India?

1. Growing Popularity Of Telemedicine

By facilitating remote consultations, healthtech startups are making expert medical care accessible to people from rural and urban areas alike; improving overall healthcare outcomes and bridging the inequalities. India’s telemedicine market is expected to grow at a CAGR of 31%.

Additionally, the e-pharmacy market is projected to grow at a robust CAGR of 44%. This is likely to result in a market size of $4.5 billion by 2025. This growth reflects the increasing reliance on digital healthcare solutions, in turn, reshaping the country’s healthcare landscape.

2. Investment & Support

The healthtech startups in India have received massive support and backing from VCs, accelerators, and the Indian government. Despite having a slowdown in overall funding, the early-stage healthtech sector has observed a 26% YoY rise in funding.

Furthermore, the government’s push towards digitisation is enabling assisted growth in the healthtech sector. Various policies and initiatives, such as – Health ID (UHID) and Electronic Medical Record (EMR) are unifying the patient management efforts across the board.

3. Patient Centric Care 

Hospitals and medical staff in India are far too few and are stretched too thin. With the advent of digitisation, they are now experiencing some relief that’s resulting in the incubation of more patient-centric practices. Patients are now opting to digitally access their local healthcare services and avail of benefits at an affordable cost.

Moreover, the progressive insurance and healthcare platforms are curating a holistic approach to treat the mind, body, and soul. This preventive methodology reduces the burden on in-patient care.

Here’s Our Top Picks For Revolutionary HealthTech Startups In India.

10 Best HealthTech Startups In India 

1. 1mg  

• Founded: 2013
• Location: Gurugram, Haryana, India 
• Website: https://www.1mg.com/

USP: The website was initially started as HealthKartPlus – a platform for users to get information about medicines. Eventually becoming so popular that the users asked the company to start the delivery of the medicines too. Thus, 1mg was started. Now, 1mg is one of the few unicorns that India’s health tech sector has incubated. 

1mg has three business verticals – pharmaceuticals, labs, and doctors. The company allows users to order prescription and over-the-counter medicines through its website and mobile app. Users can upload their prescriptions, search for medicines, and place orders for home delivery. The platform offers a vast catalogue of medicines from licensed pharmacies and ensures authenticity and quality.

In addition to medicines, 1mg offers various healthcare products, including wellness supplements, personal care items, medical devices, diagnostic kits, and healthcare appliances. Users can browse through different categories and purchase products based on their needs. 

Also, Read: Group Health Insurance for Startups

2. HealthifyMe

• Founded: 2012
• Location:  Bangalore, Karnataka, India
• Website: https://www.healthifyme.com/in/

USP: Apart from providing personalised diet plans to customers, HealthifyMe also provides information on nutritional intake, glucose monitor, and smart scale to help customers get fitter.  

HealthifyMe is an Indian digital health and wellness company that offers an app providing services such as calorie tracking, nutrition advice, and fitness guidance. The company operates on a freemium model, offering nutritional and fitness advice from experts through premium subscriptions.

The company also collaborates with medical institutions like Medanta, Apollo Hospitals, and Manipal Hospitals to address clinical obesity, diabetes, cardiovascular issues, and lifestyle diseases.

HealthifyMe recently secured $30 million in a pre-Series D funding round to accelerate its AI capabilities. The round was led by prominent investors LeapFrog Investments, Khosla Ventures, FinnFund (a Finnish development financier), and Van Lanschot Kempen (a Dutch investment firm). 

3. Onsurity

• Founded: 2020
• Location: Bangalore, Karnataka, India
• Website: https://www.onsurity.com/

USP: Onsurity is one of the first companies to offer healthcare membership to businesses on a monthly subscription basis, with subscriptions starting for as low as ₹49 per employee. Businesses with team sizes of as little as 3 people can avail of these benefits.

Onsurity is a benefits company that provides comprehensive employee healthcare benefits to small and medium enterprises (SMEs), startups, and enterprises in India. In addition to providing group health insurance, group term life insurance, and group personal accident insurance, Onsurity also provides holistic wellness membership plans to make corporate teams fitter and more agile.

Registered members are entitled to discounts on medicines, health check-ups, maternity benefits, teleconsultations, gym memberships, and more via the Onsurity app. Placing claims requests on Onsurity is extremely simple as the dedicated “Good Doctors” concierge team assists patients and their family members throughout the strenuous hospitalisation process. 

Onsurity, currently works with over 5,000 companies, including Jupiter Money, CleverTap, Porter, Sobat Developers, DBS Bank, and Pantaloons. The company aims to increase the number of businesses on the platform from over 5,000 to over 50,000 in the next two years. Onsurity recently raised $24 million in a Series B funding round led by the International Finance Corporation (IFC), a part of the World Bank Group and the largest global development institution.  

4. MediBuddy 

• Founded: 2013
• Location:  Bangalore, Karnataka, India
• Website: https://www.medibuddy.in/

USP: Just like Zomato, Medibuddy also offers gold memberships to its customers. With this membership users and their 6 family members can get unlimited online consultations from doctors specialising in 22+ medical fields, in 16 native languages.

MediBuddy is a cashless healthcare platform that gives users 24*7 access to healthcare services like teleconsultations and e-pharmacy at their fingertips. The MediBuddy app offers access to doctors across various specialities like gynaecology, mental health, dermatology, cardiology, and more.

The company also facilitates wellness tests, full body checkups, diagnostic tests, and blood tests. MediBuddy recently secured additional funding of $18 million from its existing investors Quadria Capital, Lightrock, and TEAMFund.  

Related Read: Top 5 Nutrition Startups in India

5. HealthKart

• Founded: 2011
• Location: Gurugram, Haryana, India
• Website: https://www.healthkart.com/

USP: HealthKart offers India’s largest range of genuine healthcare products online across various categories and all major brands. HealthKart’s house of brands – MuscleBlaze and HK Vitals are India’s no. 1 sports nutrition and online vitamin brands.  

HealthKart offers diverse products from various brands, including whey proteins, pre and post-workout supplements, multivitamins, weight gainers, fat burners, and herbal supplements. In addition to their own brands, the platform features national and international brands such as GNC, Herbalife, ON, My Protein, Muscletech, Ultimate Nutrition, Dymatize, Isopure, Truebasics, and more.

The HealthKart app provides users with features like secure checkout, wish list collections, content sharing, referral options, and the ability to find nearby supplement stores. The company’s products are available on various online platforms like 1mg, Amazon, and Flipkart, providing customers access to genuine health and wellness products online.

Quick Read: Top 5 HealthTech Products

6. Pristyn Care

• Founded: 2018
• Location: Delhi NCR, Delhi, India
• Website: https://www.pristyncare.com/

USP: Pristyn Care is a leader in secondary care surgery and has differentiated itself by ensuring a 24/7 Personal Care Buddy allotted to every patient.

Pristyn Care offers a wide range of surgical treatments, including proctology, gynaecology, IVF, urology, vascular, ENT, laparoscopy, anaesthetics, and ophthalmology. The company has a network of over 700 partner hospitals and 100 clinics across 45+ cities in India.

The startup provides end-to-end support to patients, including diagnostics, hospital admissions, consultations, insurance coverage, and post-surgery follow-ups. Pristyn Care’s mobile app offers features like online doctor consultations, period and ovulation tracking, and access to various healthcare tools. 

7. Practo 

• Location: 2008
• Founded:  Bangalore, Karnataka, India
• Website: https://www.practo.com/

USP: In its initial days, Practo started as a platform offering cost-efficient cloud-based healthcare software, to deliver healthcare information with high clinical value and usability.

Practo is now one of the leading digital healthcare platforms in India that provides a wide range of services to users. The company offers access to doctors across various specialities like gynaecology, mental health, dermatology, cardiology, and more.

The platform provides the convenience of online and offline doctor consultations anytime, anywhere. Additionally, users can book appointments on Practo for diagnostic tests, health check-ups, and wellness services at partner clinics and diagnostic centres. Users can compare prices, read reviews, and book appointments online, streamlining the process of accessing healthcare services.

Also, Read: 10 Best Health and Fitness Apps in India

8. NetMeds

• Founded: 2010
• Location: Chennai, Tamil Nadu, India
• Website: https://www.netmeds.com/

USP: NetMeds started with a vision to provide the people of India with convenient and affordable access to their everyday medicines. The company offers seamless online and offline integration with its large inventory of medicines (35,000+ SKUs).

NetMeds is one of India’s leading online pharmacies, providing a convenient platform for users to order prescription and over-the-counter medicines, healthcare products, wellness items, and medical devices. NetMeds offers a comprehensive range of healthcare products, including prescription and generic medicines, wellness supplements, personal care items, medical devices, and over-the-counter medications. 

Users can browse through a vast catalogue of products and order them online from the comfort of their homes. NetMeds provides doorstep delivery of orders to users across India, making it convenient for individuals to access essential healthcare products without visiting a physical pharmacy. 

Also, Read: Top 5 Technological Innovation In Healthcare

9. Innovaccer

• Founded: 2018
• Location: San Fransico, California
• Website: https://innovaccer.com/

USP: Innovaccer is a leading digital healthcare IT platform that unifies patient data in a cloud to enhance patient management systems and healthcare outcomes. Their data stack gives hospitals and healthcare professionals a 360-degree view of the patient.

Founded by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta, Innovaccer provides health management and pay-for-performance solutions to medical practitioners, hospitals, health systems, and other healthcare professionals.

In addition to this, Innovaccer also provides solutions for care management, referral management, and patient engagement. The platform has about 49 million patients recorded to date and 96,000+ providers across 1,600+ locations. Innovaccer is India’s first healthcare unicorn. 

Quick Read: The Health Challenges Of India’s Techies 

10. Docplexus 

• Founded: 2014
• Location: Pune, Maharashtra, India
• Website: https://www.docplexus.com/

USP: Docplexus is strictly a platform for doctors, enabling them to make informed medical decisions by keeping them up to date with the latest developments in academia.

Docplexus focuses on building a community of doctors to help them make more informed decisions. The resourcefulness of this platform thus helps these medical practitioners create advanced medicine practices and make successful patient outcomes.

Be it development in academia, treatment procedures, or new medicine being developed or researched, doctors can connect with fellow doctors on Docplexus to stay updated on these medical queries. At present, the platform has over 2,75,000 registered members.

Paving The Road Ahead For India’s Healthtech Companies 

The Good 

India’s healthtech sector shows great promise for advancement and growth, here are some of the factors that may contribute to this… 

1. Rising Demand

India’s growing population, increasing prevalence of chronic diseases, and rising healthcare expenditure are creating a significant demand for innovative healthcare solutions. Healthtech startups can address unmet healthcare needs, improve access to quality care, and enhance patient outcomes.

2. Technology Adoption 

India is perhaps one of the fastest adopters of technological advancements, with a digital population surging 751 million active internet users as of January 2024, more people will be inclined to switch to digital applications for their cost-effectiveness and accessibility.

Furthermore, rapid advancements in technology, including AI, machine learning, IoT, and blockchain, are transforming the healthcare landscape. Healthtech startups can leverage these technologies to develop innovative solutions for diagnostics, treatment, remote monitoring, and personalised medicine. 

3. Focus On Wellness and Prevention

There is a shifting focus towards preventive healthcare and wellness, driven by increasing awareness about lifestyle-related diseases and the importance of early intervention. Healthtech startups can capitalise on this trend by offering solutions for health monitoring, wellness coaching, fitness tracking, and personalized nutrition.

Also, Read: The Health Challenges Of India’s Techies

The Not So Good 

While there are many opportunities for advancements in digital healthcare, the healthtech startups may face certain roadblocks along the way. Here are some of the challenges these companies may face in the future. 

1. Data Privacy and Security

Healthtech startups deal with sensitive health data, making data privacy and security a top priority. Ensuring compliance with data protection laws, implementing robust security measures, and safeguarding patient information from unauthorised access or breaches are significant challenges for these startups. Both combative and preventive approach would ensure that these startups stay protected in case of a security breach.

2. Limited Healthcare Infrastructure

India’s healthcare infrastructure, particularly in rural and underserved areas, is often inadequate and fragmented. Healthtech startups face challenges in reaching these populations, accessing healthcare facilities, and deploying technology solutions in resource-constrained settings. Increasing accessibility via digital mediums would serve these startups beneficially.

3. Funding and Investments

In 2023, the health tech sector in India, home to over 10,000 companies, witnessed a notable funding decline to $682.7 million, down from $1.5 billion in 2022 owing to factors such as – reduced late-stage investments, fewer funding rounds (from 247 to 103), and a decrease in average cheque size. However, the health-tech companies remain stealthy in the face of funding slowdown, hiring in this segment is expected to grow by 15-20 percent.

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