From wearables like wristbands that keep track of your physical activity to wireless weighing machines that help you track your weight fluctuations, technology is getting into healthcare with an eye firmly on the consumer.
The trend in far greater in the US, but healthcare influenced by information technology (HIT) is a niche that’s seeing increased activity in India, too.
This is indicated by the large number of deals in this segment, observed Raj Prabhu, co-founder of Mercom Capital Group, a global consulting and communications firm.
In the US, venture capital (VC) funding in HIT nearly doubled from $1.2 billion in 2012 to $2 billion in 2013.
Back home, though the total deal size is small at $12 million, the number of deals has increased to seven from one last year, he told Business Line over the phone from Texas.
India stands fourth, after the US, the UK and Canada, he pointed out.
And, despite the funding fatigue and recessionary trends that worry other sectors, “in terms of VC funding, this is the hottest sector”, he added. Read more
By P. T. JYOTHI DATTA