My initial weeks involved comprehensive training sessions – from embedded software to hardware engineering, a bit of everything was covered. Additionally, I had the chance to informally meet some India based partners, attend MedTech conferences with the aim to stay abreast of market trends and networking.
Although I’ve only been here a few months, I doesn’t feel that way as everyone is so approachable. My manager, Shruti and the Commercial Director, Alex have been so helpful in making me understand the existing clients, product, and ample opportunities for Business Development.
You have spent quite some time in the Indian healthcare industry, tell us more about that journey?
With a decade of experience in the healthcare industry in India, working for major companies such as Medtronic, Danaher, and Schiller, I have witnessed the healthcare transformation from treatment to preventative care and from healthcare to MedTech, with a growing emphasis on automation, AI, and remote monitoring.
Fuelled by VCs and various Government initiatives e.g., Make in India, National Digital Health Mission, eSanjeevani and National Health Stack, various verticals such as remote medical devices, fitness apps and corporate wellness are coming together to build the newly formed MedTech industry.
Today one can monitor many vital signs remotely, from blood sugar to ECG to glucose biomarkers. The industry has come a long way from step count and this development, combined with the increasing awareness of preventive healthcare in India will be revolutionary for the health industry.
Today, I couldn’t be prouder to be a part of B-Secur, where we are advancing heart health technology and enabling greater accuracy for cardiac monitoring!
B-Secur has identified the trend of Convergence between Consumer & Healthcare markets happening globally, have you witnessed the same in India?
The one-word answer is yes! However, from what I have observed in the past few months, I would like to elaborate on the activities that are happening in parallel but are driven by the same goal.
The Disruption: In India, there are more than 7,000 HealthTech startups. Although disruptive, and solving for India, what’s most interesting is that an increasing number of the telehealth platforms today have both user facing and clinician portals. To facilitate people in rural areas, doctors too are opting for remote monitoring solutions.
Hospital to Home: While these startups continue to disrupt the market, we are also seeing large India-based healthcare organizations such as Apollo Telehealth, Lupin Digital Health and Sun Pharma enter the market of bringing ‘hospital to home’. The common goal both sectors are trying to achieve is making healthcare accessible to the everyday user, taking it out of the hospital, to homes, and that is the essence of the convergence of the two markets.
User Adoption: According to a report by strategy consulting firm Redseer Strategy Consultants, the preventive healthcare sector now accounts for approximately 36% of the overall healthcare industry. Another survey conducted by B-Secur* found that both ECG and SPO2 are the most sought after features by smartwatch users. The same survey also revealed that the most important criterion while purchasing an ECG Smartwatch is not brand price, but accuracy!