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Indian Healthcare Sector & Innovative Ideas

The latest boom of the healthcare industry in India can be attributed in accordance with the increasing or growing older population, a vibrancy in lifestyle diseases, financial advances, growing income, yet extended funding from the private sector. With infant or maternal mortality rate steadily declining, and under-5 death rates at their lowest, life expectations are the highest in current years. The healthcare industry across India is going through a wave of accelerated growth today, with a Compound Annual Growth Rate {CAGR} of 22.9% between 2015-2020. There is unprecedented pressure on everyone involved to ever-rising expectations, so keeping this in mind Indian government has come up with various initiatives among them is backing the unique innovations that are helping in saving the precious life of citizens that to affordable by doing this it's changing the prospect of health system from one that is narrowly focused on curing diseases in hospitals by health professionals, to a system focused on keeping citizens healthy by providing them with information, affordable medicines & innovations which will help them to take care of their health whenever the need arises, and wherever they may be.

Advanced medical technologies are at present stepping in to act as enablers and bridge the gap with high-technology products and services. Advance medical technology nowadays has the ability to take off the huge social burden of chronic diseases that account for 67% of deaths among Indians. The Harvard School of Public Health has in a study on economic losses in accordance with non-communicable diseases, estimated that the economic burden of these ailments for India will be around $6.2 trillion for the period 2012-30. These figures are making coverage-makers in our country, take observe on how healthcare offerings and superior medical technologies can nowadays advantage the sufferers and the governments. Advance medical technology is nowadays available, accessible and low priced for Indians; the extra consciousness we create about them, there would be a decrease in public healthcare costs and the resultant stress on government/Private hospitals. Then the positive, and cascading, effect on social and economic increase would be witnessed. Imagine a five-year-old infant suffering from extreme pneumonia, which leads after inadequate oxygen in the blood, at a primary health center (PHC) into a far-flung village. The center has no dependable supply of oxygen. So, what does one do? How about a less costly technique for oxygen production in bucolic areas or how about a technology which can help doctors provide fine video consultation to patients in rural areas with paltry bandwidth or inexpensive medical gases for the life-supporting procedure in hospitals. 

The Indian healthcare industry is at a completely thrilling position, delicately poised to develop exponentially over the subsequent decade. With the growing population, elevated intake and rise in ‘lifestyle-oriented’ diseases the future of this enterprise and it's operating will have a massive effect on the country’s development. However, the expenditure on the Indian healthcare sector both from public funds as well as private sources is amongst the bottom in the world and a huge number of challenges need to be addressed urgently. These demanding situations might be in terms of the lack of financial support institutions and educated or the professional workforce, accessibility of healthcare services and quality of patient care and so on.

Even as these roadblocks might dampen the spirit of development but in addition, they provide enormous opportunities for the private sector and sound business model orientated enterprises to innovate and scale. Innovation in healthcare remains a driving force within the quest to balance cost containment and health care quality. Innovation is taken into consideration to be a crucial thing of commercial enterprise productiveness and competitive survival. Technological innovations gift huge opportunities for

1) Product innovation – the introduction of the latest forms of goods and services for the external marketplace and

2) Process innovation – enhancement of inner production processes for items and services. Product improvements are critical to the life of any enterprise for the reason that they offer the maximum apparent means for generating incremental revenues. Similarly, process innovation is concerned with enhancing internal abilities, safeguarding and improving quality.


This sector is developing unexpectedly and is predicted to be over USD 40 Billion (Agarwal & Shah, 2010) with more than half ruled by the hospital enterprise, followed intently by pharmaceuticals and medical units.  according to an Indian brand equity foundation (IBEF) report on healthcare (Nov 2011), the market size of this enterprise is anticipated to grow to USD 280 billion by 2020. this will be over 10 times as in 2005, when the market was at USD 23 billion, an incredible growth in just a brief span of 15 years (IBEF, 2011). A shift in policy has also been observed with the government of India aiming to develop India as a global healthcare hub and a leader in medical treatment and facilities in South Asia. 

Healthcare sector revenue has also been growing appreciably showing the potential of also becoming a fairly profitable industry for private players. The Indian brand equity foundation (IBEF) has estimated that healthcare sales (across the different components) grew at a compound annual growth rate (CAGR) of over 17% between 2005 and 2010. The healthcare market in India is split into five key segments as outlined below:

  1. Hospital Sector: - government infrastructure inclusive of healthcare centers, district, and general hospitals and private hospitals including nursing homes, mid-tier, top-tier and super specialized institutions.
  2. Medical equipment and Supplies: - Including establishments engaged in manufacturing and maintaining medical equipment’s for surgical, dental, ophthalmic, laboratory etc. use.
  3. Pharmaceuticals: - This consists of the manufacture, extraction, processing, purification, and packaging of chemicals to be used as medication.
  4. Diagnostic: - Comprising of businesses and laboratories that provide analytics or diagnostic services which includes body fluid analysis.
  5. Medical insurance: - Comprising of insurance to cover hospitalization expenses, reimbursements etc.

The revolutionary innovations and the contribution that they make to the society while maintaining a sustainable business model.


1. Telemedicine: -

“Tele” is a Greek word meaning “distance “and “mederi” is a Latin word meaning “to heal”. The most widespread developments in Indian healthcare are being produced by the growth in telemedicine. This is of precise importance because of the shortage of rural health services and health practitioners. As stated before only 3% of physicians live in rural areas and only 25% live in semi-urban regions (“PricewaterhouseCoopers LLP 2007.”) Telemedicine allows doctors to attend to multiple patients all across the country or even the world without ever leaving their hospital. A physician can diagnose an affected person, prescribe medication and treatment, or simply educated a patient on a specific issue without having the affected person leave their village. The development of telemedicine is, therefore, a unique, affordable & effective way to spread health services to the majority of the population. In India, the telemedicine services are majorly classified under the following areas: -

  • Tele-radiology
  • Tele-ophthalmology
  • Tele-ICU
  • Tele-dermatology
  • Tele-surgery
  • Telepathology and
  • Tele-psychiatry
  • Teleconsultation

2. Vitalsens (Healthcare Technology Innovation Centre): -

It’s a multi-disciplinary R&D center which brings together technologists, engineers, doctors and healthcare professionals, industry and government to develop healthcare technologies for the country, under the supervision of IITM & Government of India. Some of their major innovations are: -

  • Wearable health monitoring: - To use scenarios such as home health and emergency care, multiple clinical applications have been conceptualized, based on parameters such as reflectance SpO2, ECG (single lead and 12 lead) for cardiac monitoring and arrhythmia detection, HRV monitoring using optical sensors, EDA and Stress monitoring, Core body temperature. Cuffless BP measurement, Fall detection, and Gait analysis.
  • ECG Patch: - HTIC had developed a single lead chest ECG patch with wireless connectivity for collecting heart rate, RR interval, and respiration data, it also incorporates an ECG visualization function for installation and verification.

3. Mechanical CPAP device (Saans): -

 30% of new-born babies with Respiratory Distress Syndrome die every year while being transported to a higher center due to the lack of a low cost easy to use CPAP device. If adequate pressure is not maintained within the lungs it leads to alveolar collapse. Saans, a device that can prove to be lifesaving. Saans is an electricity independent, purely mechanical, low-skill, neonatal CPAP device, to maintain respiration and oxygenation in premature neonates with Respiratory Distress Syndrome during transport to a NICU at a tertiary care center. The system also incorporates air humidification, filtration, and a provision for oxygen use. It functions like a regular air pump (which is used to fill the air in bicycle tire’s). A person can constantly press the pump and the device will convert variable air pressure into constant air output which can be used by the baby.


4. Med-Tech Tattoo: -

The latest in medical inventions is a hair-thin, stick-on micro-electronic tattoo. It is applied to the skin like any ink transfer tattoo. You rub a backing sheet onto your skin - peel it off - leaving the tattoo transfer at the surface. The tattoo is crafted from a rubbery polymer substrate that has similar properties to the skin. It has the identical thickness, mass, and elasticity. It can bend, stretch and wrinkle just like real skin and carries advanced circuit components (transistors, diodes, and semiconductors) that can monitor functions in your body, such as coronary heart rate, brain waves, neuro-muscular activity and wound healing.


5. Ear, nose & throat Multiscope Recorder (ENTraview): - 

A device for removing foreign objects from anatomic organs such as the ear canal or throat having a housing shaped like a flashlight, an electrical power source such as a battery or AC power from a wall socket, and a tip extending from the housing, the tip having at least one wire loop crafted from a shape-memory-effect alloy such as Nitinol switchably connected to the electric power source such that when electric current flows through the wire loop the wire loop heats up and returns to a previously programmed shape such as a curet or tweezers so as to facilitate removal of the foreign object.

Healthcare innovation has to be focused on future needs. Market needs are changing at a rapid rate with India’s speedy growth and modernization. Technology will keep changing, therefore, it is not suitable to depend on it alone. The key to healthcare innovation is simplicity based on strong sustainability combining technology, accessibility, affordability, quality, and availability. Even though India’s current infrastructure is vulnerable and out of sync with western standards, the development’s in healthcare innovations exhibit promise for boom and improvement.

          

“Globalisation has created an extremely competitive environment where the faster pace of innovation is critical to success”.  Narayana Murthy

 

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