The healthcare market globally has experienced a boom. In the USA alone, healthcare companies added around 368,000 jobs in the year 2018.
The expenses in the healthcare sector are expected to increase in the near future because of the present growth rate in the industry. In fact, global spending on healthcare is being projected at $ 10.06 trillion for 2022. This drastic rise has been attributed to an aging global population, increased incidences of a bevy of disease and rising life expectancy.
This has opened up opportunities for entrepreneurs looking to enter the industry with technological innovation. This can be gauged from the fact that $75 billion was the total global funding for start-ups in the last five years.
To get a clear picture of how start-ups are shaking up the way people had access to healthcare, let’s look at these start-ups in the healthcare industry.
Self-diagnosis is a nightmare for doctors. With the rapid proliferation of the “medical” and “health” related content on the internet, many people take to Google every time they feel unwell. The problem, many tend to get the illness wrong and as a result can take the wrong medication or approach to treat the problem.
To solve this problem, K Health was created. It uses artificial intelligence to collate data from anonymous users about their symptoms and their medical history. So when you visit the app, it analyses medical data recorded by doctors and then asks you very precise questions about your symptoms. You can also connect with certified doctors through the app.
A healthcare start-up based in London, Medbelle was founded with the aim to create the world’s first digital hospital. It aims to digitize a patient’s medical journey and then link to their digital hospital.
A start-up whose aim is to weed out illegal pharmacies and connect people with registered pharmacies, PharmEasy has come a long since its inception in 2015. They also bring diagnostic tests to people who live in remote areas.
4. Atlas Biomed
Atlas Biomed was built on the premise that every human being is unique. They have a DNA test where you will get a detailed overview of your health, physical activity, geographical ancestors and nutrition.
Dayzz is a mobile app that uses mobile behavior technology, a sleep assessment questionnaire, and smart devices to give its users customized sleep plans.
The healthcare industry is currently poised to embrace the innovative steps that start-ups are taking to solve problems. This trend will continue for the time being and hopefully upgrade the whole industry to a new level.