India's preventive healthcare market projected to touch US$ 197 billion by 2025
According to a report on ‘State of Preventive Health in India’, preventive healthcare sector – fitness, wellness, foods and supplements, early diagnostics and health tracking is expected to reach US$ 197 billion by 2025, growing at a CAGR of 22%.
“India is looking to effectively deliver quality healthcare to a billion people through rapidly evolving technology that can provide affordable, accessible and personalised healthcare, said Mr. Sudhir Sethi, Founder & Chairman, Chiratae Ventures.
More than 40 preventive healthcare technology startups have raised approximately US$ 1 billion in funding over the last three years.
Preventive care has become more significant in India as a result of the COVID-19 pandemic. According to a survey of more than 1,000 people, at least 40% of the participants were highly inclined towards preventive health.
According to Redseer, a consulting firm, healthcare organisations and diverse corporates are also making inroads into the preventive health market by teaming up with startups or developing their own digital platforms and programmes. The move from curative to preventative treatment should benefit Indian consumers in terms of better health outcomes and lower healthcare expenses.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.