According to IBEF, Healthcare industry is growing at a tremendous pace owing to its strengthening coverage, services and increasing expenditure by the public as well private players. During 2008-20, the market is expected to record a CAGR of 16.5 percent.
The overall Indian healthcare market is worth around $100 billion and is expected to grow to $280 billion by 2020, a Compound Annual Growth Rate (CAGR) of 22.9 percent. Healthcare delivery, which includes hospitals, nursing homes, and diagnostics centers, and pharmaceuticals, constitutes 65 percent of the overall market.
The Healthcare Information Technology (IT) market which is valued at $1 billion currently is expected to grow 1.5 times by 2020. The Indian medical tourism industry is pegged at $3 billion per annum, with tourist arrivals estimated at 230,000. The Indian medical tourism industry is expected to reach $6 billion by 2018, with the number of people arriving in the country for medical treatment set to double over the next four years.
With an understanding of this huge future market demand, Hamraj Kumar, a 19-years old guy from Bihar, is set to launch his “new venture” Doctook which is a health networking platform for health professionals and health seekers. The startup currently is managed from the home-based office in Delhi by Hamraj and 4 others in the team.
The word “new venture” is deliberately put in an inverted comma, because earlier Hamraj founded Cureinstant, a health-tech startup which raised $150K (₹1 Crore) from seed investor Dr. Rameshwar Kumar. However, he is keen to work on the new venture now.
Hamraj always dreamt of becoming a doctor. During his preparations of medical entrance examination, he witnessed the “Eureka moment” and the idea of social health networking platform came in his mind.
To find a networking platform which is dedicated to health professionals is a tough task for consumers. No major social networking platform is dedicated to healthcare. Like Linkedin is dedicated to working professionals, Doctook is a platform where the doctor and medical students can connect with their colleague or patients and share health information with them.
Whether it would be a discussion over a case of difficult surgery or a strategy to solve a complex medical case, Doctook will serve henceforth. Every health provider will serve their patients by answering their questions, providing online appointments and solving their health related confusion. Doctors can also post jobs on the platform.
However, Hamraj and team are currently focused on to user acquisition keeping the networking part of the platform in light. Doctors and medical students are being invited to join the platform. Once they achieve a significant number of users, they will reveal other features of the platform like booking appointment and appointment management software for health organizations.
Hamraj and his team are looking forward to fundraising and investments. Commenting on startup culture in the country, he said, “My only advice to budding entrepreneurs are that set a goal and focus over executions and apart from all this, enjoy your journey. I am not a techie guy, I just love making strategies for products and marketing.”
Founded in 2015 by Hamraj Kumar, his earlier startup Cureinstant.com offered a platform where patients, doctors, medical stores, pathology labs, fitness centers and other health professionals can come together.