India Telemedicine Market Analysis

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  • Type: Service area
  • Published : February 2022
  • Region: Asia
  • Country: India
  • Report ID : 5088

  • Format: PPT, PDF

India Telemedicine Market Analysis: Segmented by Component, Deployment mode, Type, Technology, Delivery Mode, Application, End-user – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the India Telemedicine Market Analysis

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for India Telemedicine Market Analysis
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the India Telemedicine  Market  Analysis
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

India Telemedicine Market Analysis Executive Summary

Telemedicine services are used in several medical areas, such as pathology, cardiology, radiology, genetics, diabetes control, psychiatry, and primary healthcare. India’s foray into telemedicine started around two decades ago with a pilot project by the Indian Space Research Organisation (ISRO) and the country has subsequently seen the gradual entry of commercial healthcare applications in the last decade.

Market Size and Key Findings

The India Telemedicine Market Analysis size stood at around USD 1.314% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 22.31% during the forecast period.

The India telemedicine market is flourishing and projected to grow at a CAGR of 22.31% during the forecast period (2021-2028).

Market Dynamics

Market Growth Drivers Analysis

The increasing prevalence of chronic diseases and out-of-pocket expenditure has led to a significant rise in healthcare cost. The adoption of digital technologies and teleconsultations can be a useful tool for addressing this issue. Teleconsultations offer cheaper services and also reduce the work burden on healthcare professionals. With the advent of advanced technologies such as machine learning, artificial intelligence, the Internet of Things (IoT), virtual hospitals, and telehealth apps, the adoption of telemedicine increasing rapidly. Apps developed based on machine learning algorithms can help in the diagnosis of diseases such as cancer, COVID-19, rare diseases, and others.

Market Restraints

Technological and infrastructure barriers in middle and low-income countries might hinder the adoption of the service. The deployment of digital health technologies requires the latest telecommunication devices, high-speed internet with high bandwidth, and storage capacity for the integration and transmission of medical data, which is still a challenge in many developing countries. Moreover, the high cost of installation and the lack of skilled healthcare professionals are some of the other major factors restricting the growth of the market.

Covid-19 Market Impact Analysis

The sudden outbreak and spread of COVID-19 across the country and imposition of strict nationwide lockdown to curtail the virus spread new opportunities for the growth of telemedicine market across India. Due to the fear of virus spread and catching infection, the patients and their families avoided visiting hospitals and physicians’ clinics and preferred consulting remotely through telemedicine services. In addition, the hospitals and doctors focused on providing treatment and assistance specifically to COVID-19 patients and the outpatient services were also shut.

Competitive Landscape

Key Players

The major players operating in the Indian Telemedicine Market include Apollo Telehealth Services Private Limited, Practo Technologies Private Limited, 1MG Technologies Private Limited, DocOnline Health India Private Limited, Lybrate India Private Limited, Netdox Health Private Limited, Allscripts Healthcare Technologies (India) Private Limited, Dhanush Digital Health Private Limited, Novocura Tech Health Services Private Limited, Zoylo Digihealth Pvt Ltd, Vidmed Health Technologies Private Limited, TeleVital India Pvt Ltd, Neurosynaptic Communications Private Limited, Netmeds Marketplace Limited, Netdox Health Private Limited, among others. The companies operating in the market are following organic strategies such as new service launches, providing add-on facilities and services to their clients, improvising their telemedicine services, among others, to stay competitive in the market and have an edge over the other players.

Products in Pipeline

  • Apollo TeleHealth sees Covid boost to telemedicine; gets new BSI approval
  • Health Ministry’s eSanjeevani records 14 million consultations
  • Operating in two modes — eSanjeevaniAB-HWC and eSanjeevaniOPD — this initiative of the Centre has over the time gained immense popularity in being able to deliver healthcare services through digital platforms.

Notable Recent Deals

  • In October 2020, the Insurance Regulatory and Development Authority of India (IRDAI) asked the insurance companies to allow claim settlement for telemedicine consultation wherever normal consultation with a medical practitioner is allowed in the terms and conditions of the policy contract.
  • 1mg had the highest number of downloads (184.2K) among telemedicine startups during Jan 1-Feb 10, 2021, as per AppTweak data
  • Inc42 partnered with Apptweak to analyse the performances of key apps in the telemedicine sector during the post-Covid era. The performance analysis is based on various metrics such as similar views, app power, category ranking and download estimates.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

The Make in India initiative was launched by the government in 2014 and received an excellent response from the developed nations. The government has also created special areas dedicated to export, called export-processing zones (EPZs) or special economic zones (SEZs), to encourage foreign investment. The strong financial sector and dynamic banking along with huge infrastructure development opportunities have made it one of the largest markets for manufactured goods and services. Due to its huge market and population, it has become one of the most competitive markets in the world. Conducting business in India has been difficult because of corruption, lack of infrastructure, and inadequate security.

National Digital Health Authority of India (NDHAI)/National e-health authority (NeHA) is being set up to achieve high-quality health services for all Indians through cost-effective and secure use of ICT in health and health-related areas. With the government releasing Telemedicine Practice Guidelines in March 2020, virtual consultation became the preferred channel for seeking quality healthcare just days after a strict lockdown was enforced to contain the pandemic’s spread. The guideline also brought some much-needed clarity around telemedicine and digital healthcare, resulting in a spurt of telemedicine platforms with startups leading the way.

Telemedicine was already in the limelight during the Covid-19 outbreak for all practical purposes. Moreover, with the new guidelines in place, there is adequate policy clarity, and the sector is all set for optimal growth. The implementation of NDHM also means that the government is likely to monitor the security, privacy and quality standards of the solutions offered by startups in the telemedicine and online pharmacy sectors. Other initiatives such as the State Telemedicine Network (STN) are also on the cards, enabling telemedicine players to grow substantially in Tier 2 and Tier 3 locations and remote areas. The big challenge in this space is that consumers from far-flung places are not always tech-savvy. Hence, consumer awareness must be developed without delay for remote healthcare to succeed in India.

1. Report Description of the India Telemedicine Market Analysis
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. India Telemedicine Market Analysis Executive Summary
2.1 India Telemedicine Market Analysis – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of India Telemedicine Market Analysis
3.1 Market Growth Drivers Analysis
3.1.1 The increasing prevalence of chronic diseases
3.1.2 The Adoption of digital technologies
3.2 Market Restraints Analysis
3.2.1 Technological and infrastructure barriers
3.2.2 High cost of installation
3.3 Covid-19 Market Impact Analysis
4. India Telemedicine Market Segmentation
4.1 By Component:
4.1.1 Services & Software
4.1.2 Hardware
4.2 By Deployment Mode:
4.2.1 Cloud
4.2.2 On-Premises
4.3 By Type:
4.3.1 Telehospital
4.3.2 Telehomes
4.3.3 Mhealth (Mobile Health)
4.4 By Technology:
4.4.1 Store & Forward
4.4.2 Real Time
4.4.3 Others
4.5 By Delivery Mode:
4.5.1 Audio-Visual
4.5.2 Only Audio
4.5.3 Written
4.6 By Application:
4.6.1 Tele-Psychiatry
4.6.2 General Consultations
4.6.3 Tele-Radiology
4.6.4 Tele-Pathology
4.6.5 Others
4.7 By End-User:
4.7.1 Payer
4.7.2 Provider
4.7.3 Patients
5. India Telemedicine Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives Telemedicine Market
6.4 Notable recent deals in Telemedicine Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Apollo Telehealth Services Pvt Ltd Company overview
Product & Services, Strategies & Financials
7.2 Practo Technologies Pvt Ltd Company overview
Product & Services, Strategies & Financials
7.3 MG Technologies Pvt Ltd Company overview
Product & Services, Strategies & Financials
7.4 DocOnline Health India Pvt Ltd Company overview
Product & Services, Strategies & Financials
7.5 Lybrate India Pvt Ltd Company overview
Product & Services, Strategies & Financials
7.6 Netdox Health Pvt Ltd Company overview
Product & Services, Strategies & Financials
7.7 Allscripts Healthcare Technologies Pvt Ltd Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Telemedicine market
9.2 Future Opportunities
10. Strategic Recommendations

India Telemedicine Market Analysis Segmentation

By Component:

The India telemedicine market is segmented by component, deployment mode, type, technology, application, end user, regional distribution, and competitive landscape. Based on component, the market is further fragmented into services, software, and hardware. Services are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of surging demand for the telemedicine services.

By Deployment mode:

In terms of deployment model, the market can be split into cloud and on-premises. The cloud segment is expected to dominate the market in FY2021 with an overall market share of around 71.68%. This can be attributed to the benefits such as the provision of remote accessibility of data and overall reduced operational costs associated with the cloud segment.

By Type:

In terms of type, the market can be segmented into tele-hospitals, mHealth and tele-homes. The tele-hospitals segment is expected to dominate the market through FY2027. This can be attributed to the increasing adoption and usage of telemedicine services in hospital setting to consult various specialists by doctors. This not only resulted in cost savings for the hospital but also for the patient. While tele-homes segment will also witness growth in the coming years on account of the increasing digitization and increasing internet proliferation across the country.

By Technology:

By technology it is based on Store & Forward, Real Time and Others

By Delivery Mode:

By Delivery mode, it is based on Audio-Visual, Only Audio, Written

By Application:

By application it is segmented into services like telepathology, telecardiology, teleradiology, tele-dermatology, telepsychiatry, and other services have gained popularity and demand from the population and thus driving the growth of the India telemedicine market in the next five years.

By End-User:

Based on end-user, it is segmented into payer, patients and Provider.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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