Frugal Innovation in Healthcare: How Targeting Low-Income Markets Leads to Disruptive Innovation
By Aditi Ramdorai & Cornelius Herstatt, Springer, January 2015
This book focuses on how companies are innovating with regard to the Bottom-of-the- Pyramid (BOP) – the lowest socio-economic segment, and the organizational conditions they need to be successful. The authors use several examples of disruptive innovations for this market, particularly in the Indian healthcare sector. Low-cost, specialty hospital chains like Aravind Eye Care and Narayana Hrudayalaya have brought down the cost of certain medical procedures significantly. The Indian conglomerate Tata Group and the American healthcare giant GE Healthcare have also developed affordable products targeted at the lowest-income segments in India. The authors present an in-depth analysis of these companies and present their insightful results on disruptive innovation and the ever-challenging BOP market.