Probably one of the best uses of tech can be seen in the healthcare industry, and that is actually beneficial for humanity. Today, we are seeing new and better healthcare startups getting on the scene and going all out to help those who are in need. And for sure, the technology we have today has a big part to play in that. Take for example the health-tech companies in India that are doing expectantly well and coming up with remarkable solutions to the problems we always had. These days, there are many health-tech companies that can help you out in many ways, like finding a healthcare professional nearby, healthcare-related information, buying medicine online, signing up for checkups, and whatnot. That’s the reason why we are here with a list of the top 10 health-tech companies in India as of 2024.
1. HealthifyMe
Just a decade ago, you wouldn’t have thought that a mobile application would be able to change how you actually take care of your health, right? Well, that’s pretty much possible with HealthifyMe, which was started in 2012 and quickly became the best digital health tool in India. HealthifyMe has helped users take better care of their health since its AI nutritionist, Ria, came out in 2018, you know? So no wonder why its gross margins have grown from 26% in 2016 to an amazing 72% by 2020. HealthifyMe is getting ready to grow into North America and Southeast Asia now that it has an extra $30 million in funds.
2. PharmEasy
What would you do if you had to buy some medicine for yourself? You’d have to wait in life outside of a pharmacy, right? But what if we tell you that you can actually order your medicine while sitting comfy at your home, how does that sound? Well, PharmEasy is the platform we are referring to here. Since it began in 2015, PharmEasy has changed everything. Yes, It Has! This business brings medicines right to your door, does diagnostic tests, gives teleconsultations, and whatnot. Even though PharmEasy’s value dropped 90% from its peak in 2021, the company bounced back with a 16% rise in income in FY23.
3. Netmeds
What happens when a tech-savvy company and a big store chain work together? You get Netmeds, a business that started in 2015 and was bought by Reliance Industries in 2020. For sure, this deal not only added Netmeds to Reliance’s huge ecosystem, but it also led to new services like grocery delivery. Over the years, even though Netmeds’ sales went down, the company still made a profit by lowering its running costs.
4. Cult.fit
Cult.fit, which came out in 2016, has everything from gyms to apps for mental health, you know? Even though it had problems with money right now (a loss of ₹681 crore in FY23), it claimed a 34% rise in sales. Right now though, big names like Tata Digital and Zomato are backing the company. It has become a leader in holistic health and fitness through smart acquisitions and new services. The company stays ahead in the competitive health-tech market by providing a unique mix of online and offline services, that’s what has kept them in the game.
5. Innovaccer
Innovaccer, which was started in 2014, is mining data to change healthcare. According to them, data is the new oil, you know? People know that Innovaccer has great community health management solutions because Black Book and Frost & Sullivan have both given it awards for excellence. And yes, its recent purchase of Cured, a digital marketing tool for healthcare, shows that it is committed to getting patients more involved. That’s why we say that value-based care is being changed by Innovaccer’s AI-driven solutions, which makes it a star in the health tech field.
6. Practo
Ever since 2008, Practo has been your one-stop shop for all your healthcare needs. Why and how though? If you need to make a doctor’s visit, order medicine, or get a diagnostic test, Practo can help for sure. All in all, Practo’s seamless merging of online and offline services makes sure that patients get the full healthcare experience they need. Though in India, this health tech leader has big plans for the future, like opening clinics with the Practo name.
7. Niramai
Niramai, which was started in 2016, has turned breast cancer screening into a more tech-savvy process. The Thermalytix technology from this company uses both thermography and AI to offer a radiation-free and painless screening method, have you heard of that? Niramai was the first Indian company to get FDA permission for its device in 2023. This was a big step forward, that’s for sure.
8. Biofourmis
It is often the requirement when you must get healthcare at home because you can’t take the patient to the hospital, that’s where Biofourmis comes into play. Biofourmis, which was founded in 2015, is an expert in virtual care and care delivery options. Though its main office is in Boston, it actually has big operations in Singapore and India. All in all, through its strategic relationship with GE HealthCare, it can monitor patients in their homes instead of just in hospitals, which helps with issues like staffing and capacity.
9. mfine
The company mfine was started in 2017 by former leaders from Myntra, you know? Right now though, its AI-powered platform provides on-demand doctor consultations, diagnostics, and pharmacy services. Even though mfine has had money problems, like cuts and a merger with LifeCell International’s diagnostics business, the company keeps coming up with new ideas.
10. Tata Health
You know it’s a big deal when a well-known company like Tata gets into health tech, right? Tata Health’s digital platform provides comprehensive healthcare options, and in 2024, it launched the “Health Supercharge” insurance plan. Tata Health has a huge network of over 10,000 hospitals and uses cutting-edge technology to make healthcare more efficient. This means that millions of people in India can get good care, that’s for sure.
Conclusion
There you have it. Sure, there are more and more health-tech companies coming up, but these are by far the biggest and top ones that are leading in India. So, no matter if you want to use their services or just want a list to find opportunities to invest in some of these companies, we hope that our today’s post helped you out in some way.
