Modern Technologies Poised to Revolutionize Healthcare Delivery & Consumption in 2024

Having completed his master’s and Post-Doctoral Research in Organic Chemistry from Osmania University, Dr. MSN incepted MSN Group in 2003, prior to which he held the role of R&D Head in one of the leading Indian Pharmaceutical MNCs. Additionally, he is also a Member of the American Chemical Society, has 170 Patent Publications globally (out of which 73 have been granted) and 53 research publications in reputed Indian as well as International journals. In a recent conversation with Siliconindia, Dr. MSN Reddy, Founder, Chairman & MD, MSN Group gave us an insightful overview of the Indian healthcare industry so far this year, and even shared his expectations from the market in terms of tech disruption in the coming year. Below are the excerpts from the exclusive interview

What are your thoughts on the Indian healthcare industry so far in 2023?

Driven by technological advancements, policy changes and evolving healthcare demands, the Indian healthcare industry has been undergoing significant transformations. The country is experiencing a digital health revolution with the adoption of telemedicine, remote monitoring, and health apps. This trend has been accelerated due to the Covid-19 pandemic, making healthcare more accessible to people in remote areas and improving convenience for urban populations. Efforts have been ongoing to improve healthcare infrastructure across the country. There has been a focus on building more hospitals, upgrading existing facilities, and enhancing medical supplies & equipment to provide better care.

Tell us about the major concerns healthcare organizations had while entering 2023. How is the scenario now?

There was a need to improve healthcare infrastructure, especially in rural areas, to ensure better access to quality healthcare services for all the citizens, Also, affordability of healthcare services and medicines for the general population, especially for low-income groups, was a significant concern. For healthcare companies, integrating new technologies into healthcare systems while ensuring quality, affordability, data security and compliance with regulations is an ongoing challenge. Having said that, there has been a significant progress so far in the year 2023. Healthcare organizations have adapted to evolving regulations by investing in technology, compliance measures and updating practices to meet new standards. Government schemes and initiatives have been implemented to improve the affordability of healthcare services and medicines, particularly for marginalized communities. Continued efforts and initiatives are being undertaken from both government and industry to address the healthcare organisations concerns and improve the overall healthcare landscape in India.

According to you, what were the two most significant developments for the healthcare industry in 2023?

Given the dynamic nature of the healthcare industry, pinpointing the absolute most significant happenings can be challenging. However, there were two major trends that likely continued to shape the industry in 2023. Firstly, rapid digital transformation not only improved accessibility, especially in rural and underserved areas, but also revolutionized the doctor-patient relationship, offering convenience and timely care. Secondly, both individuals and healthcare systems have increasingly emphasized proactive measures to prevent diseases, promoting healthy lifestyles, regular screenings, and early interventions. Governments, healthcare providers, and tech companies have collaborated to develop solutions that empower individuals to take charge of their health through education, personalized wellness programs, and the use of wearable health tech.

How do you expect latest technologies to shape-up the way healthcare is both offered and consumed in 2024?

India remains a major player in the global pharmaceutical industry. With modern technologies poised to revolutionize healthcare delivery and consumption, the healthcare sector has been investing in research & development, generic drug manufacturing, and vaccine production. The emphasis on self-reliance and innovation in pharmaceuticals has been a focal point. However, balancing technological advancement with affordability remains a crucial challenge.

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