The Medicine Box: Tata 1MG founder Prashant Tandon on India’s health tech market

The Indian healthcare market is fragmented and has efficiency gaps. But, health technology is helping bridge this gap. The COVID-19 pandemic resulted in a fundamental behavioural change in India in terms of health technology, which means buying more medicines online, booking diagnostic tests, Teleconsultations, etc.

In this edition of the Medicine Box Podcast season 5, CNBC-TV18’s Ekta Batra catches up with Prashant Tandon, founder and chief executive officer (CEO) of Tata 1MG to discuss the Indian health tech market and its potential growth.

​Health tech also comprises new technologies such as the Internet of things (IOT), artificial intelligence (AI), and data sciences, Tandon said, adding that data will be a huge part of health tech in the future.

Pointing to digitisation of the entire value chain such as pharma and diagnostics, Tata 1MG founder said, COVID-19 led to a 3x rise in people transacting on digital health platforms. Tata 1 MG’s traffic has risen to 150 million unique users vs 90 million users in FY20, he said. According to him, healthcare, as an ecosystem, is very profitable and digital will make it more efficient