Healthcare Start-Up Company of the Year 2016
Pharma Leaders 2016 is looking at an innovative player to win the race of "Healthcare Start-Up Company of the Year 2016" out of ix finalists that were selected from the nationwide selection process carried out by Pharma Leaders Research.There are more startups in India than anywhere in the world. Every street of every city is teeming with them — some strikingly unique, and some not so. In fact, India is not just ahead in numbers, it boasts of a very strong startup ecosystem as well. And yet, the startup industry suffered this year. Raising funds remained a challenge for most. After a year or two of incredulous valuations of Indian startups, investors are now more tight-fisted with their money, loosening their purse strings only if there’s clear possibility of multiplying money. So for startups, it’s time to perform or perish.According to Venture Intelligence, as many as 30 startups shut shop in 2016. But far greater was the number of those that succeeded in disrupting the existing disruptors in their respective sectors by either unearthing an entirely new market or by spotting gaps in prevailing markets or business models. This new breed of startups are growing rapidly and giving new dimensions to the industry in the process.Global Medical Tourism is estimated at $50 to 55 bn and is one of the fastest growing sector in the travel industry. India’s market size is estimated at $3bn and expected to grow at 15 to 17% CAGR in next 5 years.
Patients are attracted from around the world to India due to its cost effectiveness and outstanding clinical services. India provides lowest costs around the world with the best services, as per the report of the Medical tourism Market 2015. Considering overall quality of healthcare, India provides medical services similar to that in USA at 1/10th the cost. In the year 2015, more than 500,000 patients travelled to India for medical treatment.

In addition to alternative medicine like ayurveda and naturopathy, India is famous for tertiary care procedures like bone marrow transplant, cardiac bypass, eye surgery and orthopedic surgery. Recently, India is also gaining importance for bariatric surgeries and organ transplants. Top corporate hospitals in Delhi, Gurgaon, Mumbai, Chennai, Kolkata, Bangalore and other tier I cities are the ones attracting the patients from other countries to India.

Increasing internet penetration and number of people relying on online media to access healthcare information has led to easier access to hospitals and doctors across the globe. This compounded with mushrooming of healthcare startups has given a new shape to medical tourism industry in India.

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