Indian Telemedicine Market Analysis

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  • Type: Service area
  • Published : April 2021
  • Region: Asia
  • Country: India
  • Report ID : 1253

  • Format: PPT, PDF

Indian Telemedicine Market: Segmented by Application (Teleradiology, Telepathology, Teledermatology, Telecardiology, Telepyschiatry) by Modality (Real-Time, Store- and- Forward, Others) By end user (Healthcare facilities & Homecare) – Growth, Trends, and Forecasts (2019-2028).

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Report Overview

The Telemedicine market size was valued at USD 830 Million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of XX% from 2019 to 2028.

The increasing incidence of chronic diseases, coupled with the need for better primary and postoperative care, has driven the market growth within the nation. In 2019, the telemedicine market size in India was 830 million U.S. dollars. In the previous year, the market size stood at 647 million U.S. dollars. Since 2010, the market telemedicine market size in India has been increasing and is expected to grow at a compound annual growth rate (CAGR) of XX% from 2020 to 2028. During the coronavirus (COVID-19) pandemic, the adoption of virtual care was accelerated around the nation. Teleconsultation’s market size in India is expected to grow from US$100m to US$XX Million in next five years at a CAGR of 48% as per the EY-IPA report.

Market Drivers

The Ministry of Health in the Government of India has initiated some projects like Integrated Disease Surveillance Project, National Cancer Network (ONCONET), National Rural Telemedicine Network, National Medical College Network, and the Digital Medical Library Network. In 2005, Health Ministry has set-up a National Telemedicine Task Force with standard guidelines for it. ISRO (Indian Space Research Organization) in India with has launched a Pilot Project in 2001, linking Chennai’s Apollo Hospital and Apollo Rural Hospitals. Due to COVID-19 Pandemic, to avoid the increasing number cases to telemedicine has suddenly taken front seat.

Type of Services

The Telemedicine market is further segmented by type of service into the Real-Time Telemedicine, remote Patient Monitoring, store-and-Forward Practice, consultation between Specialists & Primary Caregivers, medical Imaging, telemedicine Networks. Telemedicine is most significantly used as it saves time and allow medical practitioners to serve the public. Its use is increased by XX% in 2019. Due to shortage of hospital beds in India there was huge growth in Real-time Telemedicine, where consultation between specialist & Primary Caregivers has increased by XX%.

1. Telemedicine Market Overview………………………………………………………………..
A. Market Size
2. Market Growth Drivers ………………………………………………………………….
A. Growing telemedicine market in India.
B. High demand of Telemedicine.
3. Telemedicine Market type of services……………………………………………………..
A. Real-Time Telemedicine
B. Remote Patient Monitoring
C. Store-and-Forward Practise
D. Consultation between Specialists & Primary Caregivers
E. Medical Imaging
F. Telemedicine Networks
4. Telemedicine Market Segmentation……………………………………………………….
A. Application
I. Teleradiology
II. Telepathology
III. Teledermatology
IV. Telecardiology
V. Telepyschiatry
VI. Others
B. Modality
I. Real- Time ( Synchronous)
II. Store- and- Forward ( Asynchronous)
III. Others
C. End User
I. Healthcare Facilities
II. Homecare
5. Telemedicine Major Products Market Share………………………………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………………………………..
A. Doc Online Company overview, Product & Services, Strategies & Financials
B. Analog Eclipse Company overview, Product & Services, Strategies & Financials
C. Arka Technologies Company, Product & Services, Strategies & Financials
D. ConcertCare Company, Product & Services, Strategies & Financials
8. Telemedicine Policies and Regulatory Landscape………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth……………………………………………………
A. New Trends and Development of Telemedicine market
B. Future Opportunities
10. Conclusion

Market Segmentation-

By Application:

Tools for telemedicine can range from telephone, video, devices connected over LAN, WAN, Internet, mobile or landline phones, Chat, WhatsApp, Facebook Messenger, Mobile App, Skype/email/fax, etc. . Sanjeevani-is one of the telemedicine application which has high utility and has been targeting 50 lakhs of people in India. Teleradiology and Telepathology are most used application contributing XX% in Telemedicine.

By Modality:

Store-and-forward telemedicine surpasses the need for the clinical practitioner to meet in person with a patient. With developments in technology and the use of hand-held mobile devices it has allowed healthcare professionals to view, discuss, and assess patient issues from different location.

By End User:

Telemedicine is used for prevention, promotion and to provide health care facilities across distance like Tele-consultation and Telefollow-up and Tele-education. These facilities has reduced the cost of patients by XX%. 54% of people preferred laboratory tests, delivery of medicines, and nursing care at home, which led to India home healthcare market size huge growth valued at USD 5.2 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of XX% from 2020 to 2028.

 Major Players

Due to pandemic, telemedicine market is expanding as well as enhancing healthcare access, which will lead to promote digital health plans. Startups such as Practo, DocPrime, mFine, CallHealth and Lybrate are operating telemedicine services in India at major scale. The major players of telemedicine market in India are Doc Online, Analog Eclipse, Arka Technologies, ConcertCare, Express Clinics, Kushala, Neurosynaptic Communications, Rijuven India, Televital India, Vidmed TeleHealth etc. Doc Online is fastest growing telemedicine start-up with a customer base of 200,000 and is expected to grow by XX% by 2028. Vidmed Telehealth is also one most considered telemedicine start-up with more than 1500 consultations, gaining revenue of Rs.XX lakh in a month.

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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