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Interworld Africa: News Gist
Monday, June 27, 2022
IA INSIGHTS: HEALTHTECH’S GIANT STRIDES
Africa’s healthtech industry is growing in leaps and bounds. Faced with multiple challenges across the healthcare delivery value chain, startups have risen to the occasion within the last decade to solve them in creative ways.

Startups like DrugStoc and Rocket Health are disrupting the pharmaceutical value chain by deploying inventory management and marketplaces to connect pharmacies and clinics to a trusted supply of products and creating access for end users via digital pharmacy operations respectively.

While funding for healthtech startups

increased significantly within the past year, a significant chunk went to telemedicine-focused startups. This isn’t surprising at all. According to Ugochukwu Iwuchukwu, Product Marketing Manager at Helium Health, “Healthcare in Africa is dramatically different from healthcare in other continents; there’s a level of context that isn’t clear to investors. And telemedicine is an easier idea to pitch to investors compared to other sub-sectors.”

Furthermore, the COVID-19 pandemic created a host of opportunities for innovators and entrepreneurs within the space, driving up the number of startups founded within the last 2 years. According to Salient Advisory , 22% of all healthtech companies tracked were founded amid the pandemic.

While a pandemic can be a blessing in disguise, it doesn’t last forever. As a result, startups built to address pandemic-specific problems have to extend their offerings beyond this. “It’s not out of place to see a lot of healthtech startups spring up as a result of the pandemic, and it cuts across other businesses. It’s important to note if these businesses were founded to address problems unique to the pandemic or beyond the pandemic, there are other aspects they can pivot to. Startups that were pandemic centric will likely to pivot to diversify their business while
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