The government’s focus on digitization over the years has enhanced healthcare delivery in India, increasing capacity and efficiency in the sector. Teleconsultation has increased by 85%, and digital platforms have facilitated access to critical healthcare solutions supported by the National Digital Health Mission.
It has evolved the way we look at our healthcare challenges, and has provided India with an opportunity to address issues at the grassroots level. Production-Linked Incentive (PLI) Scheme and Draft Paper on Medical Devices Manufacturing Policy 2022 will further boost domestic manufacturing of medical devices which will help in deepening access to quality and affordable healthcare solutions. In addition, the lack of access and mobility to health care solutions during the pandemic also prompted the healthcare sector to re-engineer the business model, focusing on a virtual care delivery approach. Efforts are now helping the region address significant health-related challenges. Technological innovations in the MedTech sector ranging from data-driven smart devices, telemedicine services and remote patient monitoring facilities have created easy access for patients beyond metro cities including rural areas. Innovative approaches to health promotion and prevention are also proving to be extremely successful.
According to an industry report, India’s patient monitoring market alone is projected to register a compound annual growth rate of 6.4% by 2025, a testament to the growing demand for accessible healthcare solutions and intelligent devices to enable virtual care. Is. In addition, due to artificial intelligence-led advances, faster and more customized diagnostic methods, as well as clinical decision tools, are being developed to provide highly-personalized, evidence-based prevention and treatment approaches. Huh. Precise healthcare, remote monitoring and intelligence-based infrastructure are helping to enhance human accuracy and provide personalized treatment to critically ill patients while improving patient insight and diagnosis, as well as providing a lifeline to critically ill patients.
The MedTech sector has a vast potential to address challenges such as patient data management, privacy policy, regulatory challenges, connectivity between different healthcare settings, and usability and patient experience, which in turn will enhance access to life-saving healthcare solutions. Although government support through policy and expenditure plays a vital role in building infrastructure and systems, a healthy partnership among key stakeholders of the health ecosystem plays a vital role in smooth movement towards the goal.
The government has increased support for local manufacturing of medical devices with the aim of increasing health care expenditure to 2.5% of GDP by 2025. The Atmanirbhar Bharat initiative provides further impetus to the industry to develop and enhance healthcare infrastructure with continuous technological up-gradation. Public-private partnerships (PPPs) will help increase access to healthcare and improve patient outcomes. PPP brings together the expertise and finance of the private sector with access and subsidies from the public sector. It could bring the government the resources needed for its health care goals, as well as create a sustainable long-term model. The need for PPP is further underlined given the layout of the medical infrastructure in India. According to a NITI Aayog report, 60% of the medical infrastructure is densely populated in metros. Addressing this, private hospital chains are rapidly expanding beyond metros to tier-II and -3 cities. Private players are also seeking recognition and developing new health care models at an increasing rate. PPP will also help address the shortage of skilled workers by establishing programs to improve the health workforce with the ability to adapt to technological advancements.
The introduction of AI and analytics-enabled precision health care has opened the way for personalized self-management of health, empowering patients to take health care in their own hands. Self-care progress will also boost the productivity of the country. To capitalize on the potential of India’s young population, who will form the majority of the workforce of the future, consumer health options must be widely available and easily adopted. That said, as India moves towards a holistic, self-sustaining health ecosystem, there is huge opportunity to improve care continuity and take healthcare to the last citizen. India’s goal of ‘Healthcare for All’ can be achieved with the help of a strong ecosystem that is supported by innovation, government support and collaborative effort.
Dr. Shravan Subramaniam is the Managing Director of Wipro GE Healthcare.
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