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How AI is transforming the future of Healthcare in India

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.

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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

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