India Telemedicine Market Analysis Report 2022 to 2030

India Telemedicine Market Analysis

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India's telemedicine market was valued at $1.10 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 21.2% from 2022-30 and will reach $5.15 Bn in 2030. One of the main reasons propelling the growth of this market is the advent of advanced technologies and rising cases of chronic and lifestyle-related diseases. The market is segmented by end-user, product type, and Delivery mode. Some key players in this market are Apollo Telehealth Services, Practo Technologies, 1mg Technologies, and Clove Dental.

ID: IN10INDH010 CATEGORY: Digital Health GEOGRAPHY: India AUTHOR: Nandini Shah

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India Telemedicine Market Executive Summary

India's telemedicine market was valued at $1.10 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 21.2% from 2022-30 and will reach $5.15 Bn in 2030. India's economy has undergone a change from a mixed planned economy to a mixed middle-income emerging social market economy with significant state intervention in key industries. By nominal GDP, it is the fifth-largest economy in the world, and by Purchasing Power Parity (PPP), it is the third-largest. India has the fifth-largest GDP in the world, with a $3.47 Tn economy, according to the recently published study GDP Growth by Country 2022. Despite this, India continues to outperform the USA, China, Japan, and Germany.

Together with rising digitization in India, the country's healthcare IT infrastructure is being improved by the telemedicine business there. Additionally, the abrupt COVID-19 breakout and state wise lockdown enacted to contain the virus have created new chances for the expansion of the telemedicine sector in India. Patients and their families preferred consulting remotely via telemedicine services rather than going to hospitals and doctor's offices due to a worry of virus spread and contracting an infection. In addition, outpatient services were also suspended as hospitals and medical professionals concentrated on providing care and support exclusively for COVID-19 patients.

Through FY2027, the tele-hospitals segment is anticipated to rule the market. This is a result of doctors increasingly using telemedicine services in hospital settings to consult with different specialists. The hospital and the patient both saved money as a result of this. The tele-homes market will also expand in the upcoming years as a result of rising digitization and widespread internet use in the nation. Additionally, over the coming years, profitable chances for segmental expansion are anticipated as a result of a growing health-conscious population, supportive government initiatives, and favorable economic conditions.

india telemedicine market analysis

Market Dynamics

Market Growth Drivers

Significant technological advancements and the integration of chatbots and robots on online portals and smartphone applications for acquiring personal- and health-related information are acting as another growth-inducing factor.

The Government of India (GoI) is launching a number of measures to strengthen the healthcare information technology (HCIT) industry, including the provision of telemedicine services to remotely monitor, diagnose, and consult with patients. Because outpatient patients prefer to use telemedicine services to access medical care, it is especially helpful during the coronavirus disease (COVID-19) epidemic and the subsequent deployment of obligatory lockdowns.

The increasing prevalence of various chronic and cardiovascular diseases (CVDs), especially amongst the geriatric population has prompted an rise in the need for effective home monitoring systems, wearables, smartwatches, and smartphone applications for checking various health parameters, including blood pressure sugar, and sleeping patterns.

Market Restraints

Despite the market being driven by various factors, there is a huge lack of data management and security which does hamper the market growth of the Indian telemedicine market. Apart from this, there is a lack of awareness and low infrastructure in rural regions.

Competitive Landscape

Key Players

Apollo Telehealth Services
Practo Technologies
1mg Technologies
Clove Dental
DocOnline Health India
Lybrate
3M
Dentsply Sirona
GE Healthcare
Philips Healthcare
Siemens Healthcare
Fortis Healthcare
KAVO Kerr
Wockhardt Limited

Healthcare Policies and Regulatory Landscape

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. This in turn is expected to boost the market growth over the next few years. Additionally, supportive government policies & schemes such as the Government of India’s eSanjeevani initiative have gained a lot of popularity among doctors, telemedicine companies, and patients as well.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy 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 Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

India Telemedicine Market Segmentation

Component

Based on the component, the Indian telemedicine market is segmented into hardware and software services. The software segment tends to grow at a CAGR of 15.4% during the forecasted period of 2022-2030.

Product
- Hardware
- Software
- Others
Services
- Tele-consulting
- Tele-monitoring
- Tele-education

Type

Tele-Hospitals
mhealth
Tele-Home

Application

Based on the application, the Indian telemedicine market is segmented into tele-psychiatry, tele-radiology, telepathology, general consultation, and others ▪ Tele-psychiatry focuses on giving consultations regarding psychiatry over the telemedicine platform and providing care.

Tele-Radiology
Tele-Psychiatry
Tele-Pathology
General Consultants
Others

Delivery Mode

Web/Mobile
Audio/Text-based
Visualized
Call centers

Facility

Tele-hospital
Tele-home

Deployment Model

Based on the deployment model, the Indian telemedicine market is segmented 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.

Cloud
On-Premises

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.