Global healthcare entrepreneurs from leading BRICS nations like India and South Africa voiced the need for technology enablement and creating a cohesive ecosystem to boost women entrepreneurship in the sector. The panelists were expressing their views in an interactive session on Challenges and Opportunities for Women Entrepreneurs in the Healthcare Sector organized by the BRICS CCI Women’s Vertical (BRICS CCI WE).
The eminent panelists included Dr Sunshine Neka Mbewana, Director & CEO Sunshine Medical Aesthetic & Wellness Clinic from South Africa; Dr. Swati Maheshwari, Internal Medicine Specialist and Social Entrepreneur; Dr. Priyanka Goyat, Orthodontist, Cosmetologist and Founder REJOVÉ Clinique and Padma Pandita Muku, Director Jai Sai Ram Hospital Pvt Ltd. The session was moderated by Ruby Sinha, Convenor, BRICS CCI WE and Founder, sheatwork. Shormishtha Ghosh, Director, Business Advisory, BRICS CCI also shared her views on the occasion. Hon’ble Prime Minister of India has also earlier highlighted the need for cooperation in the fields of Traditional Medicines and Digital Health amongst BRICS nations at the 12th BRICS Leaders’ Summit.
In her inaugural remarks, Shabana Nasim, Governing Body Member, BRICS CCI and Vertical Head, BRICS CCI WE said, “Despite of being at the very eye of the Covid storm, the healthcare sector has exhibited exceptional resilience and strength. With the growing synergy of automation and healthcare in India, the sector is graced to establish new landmarks in the coming years with women entrepreneurs being a critical aspect of this overall growth globally across BRICS nations.”
Ruby Sinha, Convenor, BRICS CCI WE and Founder, sheatwork said, “”The pandemic has brought health and wellness into the forefront across the globe. Health is undoubtedly the most important asset we have. As such, the Healthcare sector has emerged as one of the biggest opportunities for entrepreneurs globally. Quite a number of innovative startups utilizing the latest technologies to improve healthcare quality, accessibility and affordability have come up.”
Dr Sunshine Neka Mbewana, Director at Sunshine Medical Aesthetics (South Africa) said“Efficient utilization of technology that is available at our disposal is critical for ensuring the growth and progress of any women entrepreneur within the healthcare sector.”
Dr Swati Maheshwari, Internal Medicine Specialist and Social Entrepreneur said “The biggest positive about the digital healthcare revolution is one can monitor patients even from miles away and provide them with emergency medication and treatment. People have also exhibited a certain level of confidence in Tele Consultation and this has helped reaching out to doctors more easily.”
Dr. Priyanka Goyat, Orthodontist, Cosmetologist and Founder REJOVÉ Clinique said “Dentistry has been a very under penetrated market here in India, but with the amalgamation of technology & dental sciences we have been able to provide our patients with more holistic and reliable treatments, that too, at their doorsteps. Technologies like AI & ML are being used to predict post treatment outcomes.”
Padma Pandita Muku, Director Jai Sai Ram Hospital Pvt Ltd “Tele health has definitely played a big role during the pandemic, especially during the phase when there were acute shortages of beds and oxygen. During this period, we had time slots, wherein we would provide tele consultation to patients who had self-quarantined themselves & were carrying out their treatments on their own.”
With the advent of advanced AI, telemedicine, 3D Printing etc, the Healthtech market is expected to further strengthen its presence. Hence, providing women entrepreneurs across the healthcare sector with new avenues for growth & development. Based on recent industry estimates released by ‘Unleashing the Healthtech Potential’ by RBSA Advisors, India’s healthtech ecosystem is poised to be a $50 billion market by 2033, demonstrating an impressive compound annual growth rate of 39% between 2020 to 2023. As per recent industry estimates, the telehealth market in India has exhibited a compound annual growth rate of 39.6% & is expected to reach $10.6 billion by 2025.