Innovations in healthcare, which focus on personalized treatments and diagnostics, are revolutionizing patient care. The global digital therapeutics market is estimated to exceed $20 billion by 2030. Challenges such as regulatory hurdles and data security are crucial, alongside trends like AI and collaboration between tech and pharma. India's growth in this sector is notable, driven by government support and innovation, indicating a promising future for global healthcare advancements.
Promising startup sectors include blockchain, synthetic biology, AI, space, and sustainability. These areas have grown due to secure systems, biotech advances, AI demand, space exploration, and sustainability needs.
Healthcare wearables will reach $70B by 2028, driven by health awareness and remote patient monitoring. They provide personalized health data and are used in space, defence, sports, and more. New developments include Astroskin, WHOOP and Elbit Systems devices.
According to government data, India has over 27,000 functional cold chain points, of which around 3 per cent are located at a district level and above.
Telemedicine is growing rapidly and is expected to reach $176 billion by 2025. It offers personalized healthcare services, benefits remote and urban patients, and has higher patient engagement and lower costs. McKinsey estimates $250 billion in healthcare spending could shift to virtual care models post-COVID-19.