Over 40 preventive healthtech startups such as Cultfit, Ultrahuman and Phable have received funding of about $1 bn over the last 3 years in segments such as lifestyle monitoring, health check-ups, and mental and physical wellness.
Powering this sector is a new cohort of health-conscious individuals (HCIs), those who have scored above 40 out of 50 on health consciousness score calculated based on habits such as exercising, visiting doctors for annual checkups, and using self-monitoring tools.
A RedSeer survey of 700 HCIs highlighted HCIs spent between Rs. 4,000-10,000 per annum on average on preventive healthcare. About 90% of them also said they have used apps and devices for monitoring their health.
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