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Why India’s Medical Industry Needs More Healthcare Startups?

"Innovation is important to tackle financial aspects of the healthcare start-ups. Catering to the rich and poor alike is easier said than done," says Sweta Mangal, the Co-Founder of Ziqitza Healthcare.

The new-age startups are impacting almost every industry, and healthcare industry is no exception. Indian medical industry needs startups more than any other developing country. With more than 1.3 billion population, it is difficult for the government to reach out to every single patient at the time of need. 

This is where healthcare startups can make a huge difference. The scope of these startups is quite exciting, as they have an existing customer base. But, that doesn’t mean they are not required to innovate. 

“Innovation is important to tackle financial aspects of the healthcare start-ups. Catering to the rich and poor alike is easier said than done,” says Sweta Mangal, the Co-Founder of Ziqitza Healthcare.

Every startup requires investment and continuous funding. Even after meeting the financial aspects of a business, success is not guaranteed. Especially for startups like Ziqitza Healthcare, that don’t change anything for serving the unprivileged section of the society.

Ziqitza Healthcare Ltd aims at earning from people who can afford the services and charge very less or nothing from the poor, making it even more challenging. But, the cross subsidy model has surprisingly worked wonders for the company, making it one of the leading emergency healthcare ventures in the country. 

In the last decade, there has been a great progress in the logistics, ecommerce and online customer services to make things easier for the new-age startups. The lack of expert medical professionals offers a huge opportunity to the healthcare startups for bridging the gap and have a lasting impact on the society. 

The healthcare industry is one of the fastest growing sectors in India. With the advent of new startups, it is set to grow more in the coming years.  

“The biggest roadblock for India’s healthcare system at this point is the lack of access to critical care for patients,” says Sweta Mangal, the former CEO of Ziqitza healthcare, which is fortunately solving this problem by bringing emergency care to the patients.

“We have taken an initiative to contribute in this regard and the new startups are also making a huge difference,” says Sweta Mangal. 

The modern healthcare ecosystem is no longer about the hospitals alone. It is a huge sector with immense scope, and the new-age startups are making a sea change to this industry.    

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