Delicately poised to grow exponentially over the next decade, the Indian healthcare industry is growing at a CAGR of 9% and estimated at USD 349 billion.
Rising incidents of non-communicable diseases such as diabetes and cancer, poor hospital hygiene and an abysmal doctor/nurse to patient ratio is increasing the demand for the home healthcare industry, thus resulting in its unprecedented growth. That apart, there have been several ventures which have given the healthcare sector a new twist and form. Here are some examples of such pioneering startups:
In the home healthcare sector, maintaining the bar of innovative services is Dr. Lal Pathlabs, the first-of-its-kind to invest in Laboratory Information Management System (LIMS), which is software that allows effective management of samples and associated data. “We were amongst the first to pioneer the hub-and-spoke model of driving access. We have invested in digitization in a big way with investment in IT infrastructure, creation of a digital marketing wing and have been at the forefront of such innovations, helping consumers access their EHR, book home collection and access reports through the app and website,” says Om Prakash Manchanda, CEO, Dr. Lal PathLabs Pvt. Ltd. who recently launched a lab in Nepal too.
Walk-In, Walk-Out Gym
Analyzing that 60% of gym members do not renew their membership because of various reasons, the founders of Gym 99 realised that it is not possible for everyone to shell out Rs 25,000-35,000 at one go. “We wanted to make gyms more accessible to people. You can just walk into Gym 99, use it and pay by the hour,” informs Ankush Sabharwal, CEO, Body Building India. “The franchisee can earn from personal training and/or from supplement sales. We have a concept of a protein bar wherein you can set up a bar selling protein shakes and smoothies,” he adds.
Organic Smoking
Made out of natural paper, cotton filter, biodegradable tar outward filter, organic holy basil and organic camellia sinensis, Organic Smokes is an ayurvedic smoking therapy that combines pure herbs to prove as a revolutionary invention and an absolute delight for relieving stress. Incepted by three brothers, all of whom were smokers back in college life, the business venture grew out of sheer curiosity and the realization of a social need. “One pack of Organic Smokes is 255/10 smokes. The main key is awareness about the product and pitching it to the right customers. The customers or stores who initially rejected the idea of stocking the product are now asking for product placement,” says an excited Piyush Chhabra, founder and CEO, Mea Ame Global. “We have launched Organic Smokes in Australia this month and are planning to launch it in 100 countries by March 2020” he adds.
Clinical to Cosmetic
Started by Dr. Neeta Ratti who was the only cosmetic gynaecologist in India back in 1997, Melblok was the first skin care brand in India exclusively for hyper-pigmentation and pigmentation-prone skin. “People no longer need to go to skin clinics for laser treatments to treat pigmentation,” reveals Karan Ratti, founder and CEO, Ratti Corporation, who took over Melblok and started a major initiative to overhaul the Melblok brand through rigorous scientific research and innovation. “Melblok’s home kit has a day and night cream wherein the day cream is like applying a primer on your skin after which you can do makeup and step out without worrying about protecting your skin and the night cream is like any other night cream which you can apply and go to sleep. You would be able to see significant improvement in just a month’s time” he assures.
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