Tele-hospitals to dominate India Telemedicine market through FY2027
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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