India Connected Healthcare Market Report 2022 to 2030

India Connected Healthcare Market Analysis

$ 3999

India-connected healthcare market is projected to grow from $1.21 Bn in 2022 to $10.73 Bn by 2030, registering a CAGR of 31.4% during the forecast period of 2022-30. The main factors driving the growth would be increasing healthcare needs, growing smartphone penetration, increasing healthcare spending, and government initiatives. The market is segmented by type, function, and application. Some of the major players include Practo, HeyDoc, Omron Healthcare, TATA 1mg, Philips Healthcare, GE Healthcare, Cisco Systems, and IBM.

ID: IN10INHS004 CATEGORY: Healthcare Services GEOGRAPHY: India AUTHOR: Neha Davda

Buy Now

India Connected Healthcare Market Executive Summary

India-connected healthcare market is projected to grow from $1.21 Bn in 2022 to $10.73 Bn by 2030, registering a CAGR of 31.4% during the forecast period of 2022-30. Over the past ten years, India has gradually increased its health spending to support its growing population. From 2.95% of GDP in 2018, health spending grew to 3.01% in 2019. India still spends less on healthcare than the majority of wealthy countries, notwithstanding recent gains. The government is working to improve the healthcare system by increasing public funding and passing reform laws, but there are still a lot of problems that need to be resolved.

In India, a variety of digital healthcare technologies, including telemedicine, remote patient monitoring, electronic health records, and health information sharing, are part of the fast-expanding connected healthcare market. Many businesses provide virtual consultations and online doctor appointments, making telemedicine one of the most important categories in the Indian connected healthcare market. Wearables are being used to collect patient data and monitor health parameters, and remote patient monitoring is becoming more and more popular, particularly for the management of chronic diseases.

India Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The India-connected healthcare market is expected to be driven by factors such as:

Increasing healthcare needs- The healthcare demands of India's sizable population are varied. Healthcare services are in greater demand as a result of increased earnings and an ageing population. The market for connected healthcare can assist meet this demand by offering services for remote consultations, monitoring, and diagnosis
Growing smartphone penetration- One of the largest smartphone user bases worldwide is found in India. Patients can now get healthcare services on their mobile devices due to rising smartphone adoption. As a result, telemedicine and other online healthcare services are on the rise
Increasing healthcare spending- For the coming ten years, India's healthcare spending is anticipated to rise dramatically. By providing affordable healthcare services and enhancing healthcare outcomes, the connected healthcare sector can profit from this expansion
Government initiatives- The Indian government has started a number of initiatives to encourage the use of digital healthcare tools. Ayushman Bharat, the National Digital Health Mission, and the National Health Stack are a few of the initiatives that seek to expand access to healthcare, digitize medical records, and advance telemedicine

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in India:

Poor internet connectivity- Despite the increased use of cell phones, there are still significant problems with internet connectivity in India, particularly in rural regions. The adoption of digital healthcare solutions that rely on connectivity through the internet may be constrained by a lack of dependable, fast internet
Low healthcare literacy- In India, the general level of healthcare literacy is low, particularly among rural residents. Because patients might not be aware of the advantages or how to use them, this can hinder the adoption of digital healthcare solutions
Limited Infrastructure- In India, a lot of healthcare institutions lack the infrastructure required to support connected healthcare solutions. This includes problems with the power supply, a staff shortage, and subpar medical supplies

Competitive Landscape

Key Players

Practo (IND)- Practo is a top digital healthcare platform that offers a variety of services such as online medical consultations, telemedicine, and health information management. Also, the business sells a variety of connected medical devices, such as glucose metres and blood pressure monitors
HeyDoc Healthcare (IND)- HeyDoc is a smartphone application that seeks to transform the dynamics of the healthcare sector by giving users access to a virtual doctor and medical knowledge on their cellphones
TATA 1mg (IND)- Tata 1mg, formerly known as 1mg, offers e-pharmacy, diagnostics, e-consultation, and health-related information as services
Philips Healthcare- Providing a variety of connected healthcare solutions, including remote monitoring, telemedicine, and health analytics, Philips Healthcare is a leading global provider of healthcare technology. The business has a significant presence in India and is aiming to provide cutting-edge solutions that enhance healthcare results there
Omron Healthcare- a multinational healthcare company that sells a variety of connected healthcare products, such as body composition and pulse oximeters and blood pressure monitors. Healthcare professionals and customers in India and other countries use the company's products
GE Healthcare- Global healthcare technology leader GE Healthcare provides a variety of connected healthcare solutions, such as telemedicine, remote patient monitoring, and health analytics
Cisco Systems- Global technology corporation Cisco Systems offers a variety of networking and connection options for the healthcare sector. In order to create connected healthcare solutions that increase access to care and lower costs, the company has worked with a number of Indian healthcare providers
IBM- The multinational technology company IBM provides a range of population health management tools, medical imaging platforms, electronic health record systems, and other healthcare IT solutions. Additionally, the company offers Watson Health, a platform driven by AI that provides insights into medical data

Notable Deals

February 2023: Krayen, an Indian and American health tech business, has been acquired by Tata 1mg-backed digital diagnostic platform 5C Network. By acquiring Krayen, 5C Network will be able to increase the range of digital diagnostics services it provides.

Healthcare Policies and Regulatory Landscape

The National Health Stack (NHS), a collection of standardised APIs and protocols for healthcare data exchange, is one of the primary strategies that has been put into place to encourage connected healthcare in India. The NHS is created to support the creation of cutting-edge digital healthcare solutions and interoperability between various healthcare systems. The Indian government has also started a number of programs to encourage the use of telemedicine and other electronic medical technologies. Healthcare providers can get advice from the Telemedicine Practice Guidelines, which were published in 2020, on how to deliver telemedicine services in a secure and efficient manner.

Yet, certain regulatory constraints must be overcome in order to fully realise the promise of the Indian-connected healthcare sector. For instance, the Personal Data Protection Bill, which the Indian Parliament is presently debating, will have a big impact on data security and privacy in the healthcare industry.

Reimbursement Scenario

Although reimbursement regulations for the connected healthcare sector in India are still being developed, a number of initiatives are currently in progress to support compensation for digital healthcare services. The Telemedicine Practice Guidelines, which were published in 2020, are one of the major regulations that have been put in place to encourage reimbursement for digital healthcare services. These regulations include clauses that cover payment for telemedicine services, such as consultations and follow-up appointments.

Ayushman Bharat scheme, another initiative, is a government-funded health insurance program that seeks to cover more than 500 Mn Indians. The plan has options for paying for digital healthcare services, which could give India's connected healthcare business a big boost.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

MHealth services
mHealth Devices
E- Prescription

By FunctionType (Revenue, USD Billion):

Remote patient monitoring
Clinical monitoring
Telemedicine
Others (Assisted Living)

By Application Type (Revenue, USD Billion):

Diagnosis and Treatment
Monitoring Application
Wellness and Prevention
Healthcare management
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

To request a free sample copy of this report, please complete the form below.

We value your inquiry and offer free customization with every report to fulfil your exact research needs.

Yes, I have read the privacy policy

The India-connected healthcare market is projected to grow from $1.21 Bn in 2022 to $10.73 Bn by 2030, registering a CAGR of 31.4% during the forecast period of 2022 - 2030.

The India-connected healthcare market is segmented by type (m-health services, m-health devices and e-prescription), by function (remote patient monitoring, clinical monitoring, telemedicine and others), and by application type (diagnosis and treatment, monitoring application, wellness and prevention, healthcare management and others).

Some of the major players in India's connected healthcare market are Practo, HeyDoc, Omron Healthcare, TATA 1mg, Philips Healthcare, GE Healthcare, Cisco Systems and IBM.