Mapping India’s Healthtech Landscape

Introduction

The healthtech ecosystem in India is all set to grow, propelled by the expansion of the healthtech market size, expected to reach around US$ 5 billion this year. As of today, there are over 3,500 healthtech startups in India spanning from platforms helping to monitor health conditions, apps using AI to detect illnesses and diseases, platforms connecting patients with doctors, and much more.

The total funding in healthtech startups in $ Million has been as follows:

2020: 929
2021: 3760
2022: 1550
2023 (YTD): 185

As you can see, the healthtech sector has not been immune to the recent slump in startup funding. That being said, a bounce-back is on the cards for the entire ecosystem, and I expect funding in healthtech to come back to a more reasonable amount going forward. My intention through this write-up is to study the existing players in the market. On the basis of their use cases, we will segment them into various categories, and then dive deeper into the nature of their solution. The purpose is also to provide a framework using which an investor can evaluate the space.

The Data

I have curated a list of 80 companies operating in India’s healthtech industry. This set comprises companies that have raised >$20 million to date, or those that have raised a round of >$5 million within the last two years. I have then categorised the…