How AI is transforming the future of Healthcare in India

DOWNLOAD PDF

Indian healthcare is one of the country’s largest sectors. The healthcare sector is witnessing strong growth led by government and corporate investments in coverage and quality. However, despite the sector’s scale, growth and investments by both public and private players to bolster the quality and coverage of medical products and services, India still ranks low on the Healthcare Access and Quality (HAQ) index, and the sector faces several challenges that are further, exacerbated by COVID-19. Keeping the above in mind integration of technology with healthcare, especially AI, is increasingly becoming crucial in enabling anytime and anywhere care.

Key Findings

State of healthcare in India

Healthcare is one of the India’s largest sector, both in terms of revenue and employment
Indian healthcare is expected to reach $372 billion by 2022 growing with a CAGR of over 16%
Government of India aims to increase healthcare spending to 3% of country’s GDP by 2022
137% increase in funds allocated by Government of India for healthcare in Budget 21-22

Healthcare challenges and COVID-19 impact

Despite its scale and growth the sector faces challenges across value chain segments
The sector is struggling to balance - cost, quality & accessibility of healthcare services
COVID-19 aggravates the challenges creating an urgency to adopt technology, especially AI
Increased demand for technology-enabled solutions
- Virtual consultation services
- Remote diagnostics and monitoring
- Customer support chatbots
- Accelerated drug research

The transformation opportunity with AI

Data and AI in healthcare have the potential to add $25-$30 billion to India’s GDP by 2025
AI transformation levers to play pivotal role in providing healthcare services with
- Enhanced Quality
- Reduced Costs
- Increased Accessibility
Patient care and experience, operations and R&D are top priorities for AI implementation
Prioritization of use-cases based on value creation and implementation capabilities is critical

AI ecosystem in healthcare

Healthcare organizations need providers for successfully deploying AI-powered solutions
Need for strong win-win partnerships of healthcare organizations with the right providers
- Technology product companies
- Service provides
- Healthcare AI start-ups
- Academic Institutions
Power lies in working in tandem to unlock the true potential of AI in healthcare

How AI is transforming the future of Healthcare in India

Key Findings

Get The Report