Increasing prevalence of chronic diseases and cost-effectiveness of telemedicine is expected to drive the demand for India telemedicine market for the forecast period.
According to TechSci Research report, “India Telemedicine Market By Component (Hardware, Software, Service (Tele Consulting, Tele Monitoring, Tele Education, Tele Training, Others)) By Deployment Mode (On-Premise, Cloud) By Type (Telehospitals, Telehomes, mHealth) By Application (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, Others) By End User (Hospitals, Clinics, Homecare) By Company, By Region, Forecast & Opportunities, FY2027”, India telemedicine market is expected to witness steady growth for the next five years. Telemedicine refers to providing with remote healthcare facilities when patient and doctor are at distance using electronic devices and telecommunication devices. Telemedicine technology is generally used for management of chronic conditions, specialist consultation, follow-up visits, medication prescription with the help of secure video and audio connections.
Indian government has introduced National Health Digital Mission to support universal health coverage plan which is expected to keep health facility registry, personal health records, health IDs and Digi Doctor to provide patients complete healthcare support. Telemedicine facility provides with the flexibility of not taking elders or small children or people with severe problems to healthcare centers and provide effective treatment. Telemedicine technology is more efficient in keeping up with appointments and follow-up visits with reduced missed appointments and improve patient outcomes. Telemedicine can also aid in diagnosing whether there is need for patients to visit healthcare facilities in person.
Telemedicine provides mental health facilities and assessments for minor infection at a lower cost with efficient results. Lower admission rates in hospitals, shorter stay in hospital are the other two significant factors influencing the telemedicine market in India. Rising disposable income among the residents of India and increase in affordability of potential consumers to avail quality healthcare services is fostering the market demand. Increase in awareness regrading the advantages of virtual consultation instead of visiting hospitals physically is considered a major factor for surge in telemedicine demand. Growing demand for healthcare monitoring devices such as blood glucose monitoring devices, wearable patches are fueling the telemedicine market demand.
Due to the ongoing pandemic COVID-19, lockdown was imposed all over the country. Complete shutdown was observed, and people started practicing social distancing and avoided going out to avail healthcare facilities. Telemedicine was adopted at a larger scale by people of India as it provides shield to patients from potential contagious patients. Increase in prevalence of diseases such as obesity, heart related problems due to adoption of sedentary lifestyle is a major factor for telemedicine market demand for the forecast period.
However, miscommunication between patients and doctor in description or understanding of symptoms may hamper market growth for the forecast period.
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India telemedicine market is segmented into component, deployment mode, type, application, end user, region, and company. Based on application, market is further divided into telepathology, telecardiology, teleradiology, tele dermatology, telepsychiatry and others. Teleradiology segment is expected to dominate the market for the predicted period owing to less availability of radiologists in remote areas. Advancements in S&F technologies in paving the growth for telemedicine market in India.
Rising geriatric population and the need for effective treatment is boosting the teleradiology market. Based on end user, market is fragmented into hospitals, clinics, and homecare. Hospitals are dominating the telemedicine market for the forecast period. High-end investments by government to provide sufficient treatment in medical schools and colleges and doctors to use telecommunication facilities for treatment is driving the telemedicine market in India. Surge in number of telemedicine service providers in India is bolstering the market growth.
Practo Technologies Pvt Ltd, IBM India Private Limited, Wipro GE Healthcare Pvt., 1mg Technologies Private Limited, Medlife International Pvt Ltd, Health Vista Pvt Ltd (Portea Medica), Novocura Tech Health Services Private Limited (MFine), Lybrate India Pvt. Ltd, Philips Healthcare India Pvt., Cisco Systems India Pvt. Ltd (Cisco Healthcare) are the leading players operating in India telemedicine market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several telemedicine service providers are coming up with their technologically advanced offerings.
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“Adoption of emerging technology such as machine learning, artificial intelligence, virtual hospital and advent of telehealth apps by healthcare sector is driving the telemedicine market in India. Also, the implementation of work from home facility to ensure safety of employees by organizations and rising demand for telemedicine consultation services from self-isolating people is propeling the telemedicine market demand until FY2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India By Component (Hardware, Software, Service (Tele Consulting, Tele Monitoring, Tele Education, Tele Training, Others)) By Deployment Mode (On-Premise, Cloud) By Type (Telehospitals, Telehomes, mHealth) By Application (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, Others) By End User (Hospitals, Clinics, Homecare) By Company, By Region, Forecast & Opportunities, FY2027” has evaluated the future growth potential of India telemedicine market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India telemedicine market.
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