By 2025, the Indian healthcare industry is likely to grow to $400 billion, create 5.4 million jobs. To get there, we need a robust healthcare system that reaches people in remote areas as well as those who cannot afford it.

We are riding the cusp of a technological wave that promises to improve most aspects of everyday life. In healthcare specifically, these advancements will bring untold benefits including personalised care at scale, lower costs and improved quality of life. With capsules that are designed to release the right amount of medication, in the right place, at the right time, and prosthetics that can self-adjust with the growth of patients, we are progressing to a world where we will no longer have a one-size-fits-all approach to treatment, but individualised solutions that keep people healthy and reduce the time spent in medical ecosystems.

Healthcare systems around the world are challenged with failing infrastructure and the inability to provide people with access to the right treatments and solutions due to budget constraints and other inefficiencies. As per Institute for Health Metrics and Evaluation data, healthcare spending globally will rise from $10 trillion now to $18.28 trillion by 2040. But does a successful healthcare system require increased government spending, or do we need to innovatively reinvent the model?

The healthcare industry was built on a philosophy of medical solutions for the masses, and this model has not changed significantly since inception. Over time, this has resulted in growing burdens on our health systems, while limiting the potential benefit of treatments. The emergence of the fourth industrial revolution signifies an exciting period of hope and transformation in healthcare, looking towards more personalised solutions by leveraging data and technology.

The healthcare industry was built on a philosophy of medical solutions for the masses, and this model has not changed significantly since inception. Over time, this has resulted in growing burdens on our health systems, while limiting the potential benefit of treatments. The emergence of the fourth industrial revolution signifies an exciting period of hope and transformation in healthcare, looking towards more personalised solutions by leveraging data and technology.

We now see the emergence of key trends that will alter the medical experience for patients. In today's fast-paced and connected world, on-demand availability has become a habit. Quick, affordable and quality services help strengthen trust in the healthcare system. The use of telemedicine, for example, can allow doctors to engage with patients irrespective of their geographical location. This not only limits the need for in-person services, but also drives efficiencies across the medical ecosystem.

Technology is already impacting healthcare delivery and recovery. Recently, at VPS Lakeshore Hospital in Kochi, a 3D-printed model of a patient's hip was created before a complex hip replacement surgery was performed. It enabled doctors to determine precise points where implants were required, resulting in decreased operating time, reduced blood loss and faster recovery.

In the future, medicines could be customised per each patient's requirements. 3D printing of medicines can offer major improvements over those conventionally manufactured. It also means medicines can be produced closer to the patients and adjusted based on their needs. The next stage, 4D printing—in which printed structures change form in response to the environment—will push the boundaries even further.

By 2025, the Indian healthcare industry is estimated to grow to $400 billion and create 5.4 million jobs. To get there, we need to build on our foundations. Our cities have access to reputable facilities—India already attracts medical tourism patients from across the world. But as we look to build a robust healthcare system that reaches people in remote locations as well as those with financial challenges, technology will act as an enabler, creating faster and affordable access for everyone.

By 2025, the Indian healthcare industry is estimated to grow to $400 billion and create 5.4 million jobs. To get there, we need to build on our foundations. Our cities have access to reputable facilities—India already attracts medical tourism patients from across the world. But as we look to build a robust healthcare system that reaches people in remote locations as well as those with financial challenges, technology will act as an enabler, creating faster and affordable access for everyone.

The healthcare of the future will be convenient, unique and built on our terms. We are seeing how the data generated from electronic medical records, telemedicine platforms and remote monitoring tools offers insights that enable disease prevention and more precise healthcare delivery. As data becomes more extensive, connectivity becomes faster and devices become smarter, healthcare providers will be able to use this information to enhance the overall patient experience, beyond the four walls of a hospital. India proposes to increase its own spending on healthcare from 1.15% to 2.5% by 2025. As India establishes its developmental agenda and enables a new era for healthcare, industry leaders have an opportunity to create a new global standard founded on synergies between technology, data and a commitment to creating patient-centric solutions.

The healthcare of the future will be convenient, unique and built on our terms. We are seeing how the data generated from electronic medical records, telemedicine platforms and remote monitoring tools offers insights that enable disease prevention and more precise healthcare delivery. As data becomes more extensive, connectivity becomes faster and devices become smarter, healthcare providers will be able to use this information to enhance the overall patient experience, beyond the four walls of a hospital. India proposes to increase its own spending on healthcare from 1.15% to 2.5% by 2025. As India establishes its developmental agenda and enables a new era for healthcare, industry leaders have an opportunity to create a new global standard founded on synergies between technology, data and a commitment to creating patient-centric solutions.

As India establishes its developmental agenda and enables a new era for healthcare, industry leaders have an opportunity to create a new global standard founded on synergies between technology, data and a commitment to creating patient-centric solutions.

Author is Chairman and Managing Director of VPS Healthcare.