India Telemedicine Market to Grow at 22.31% through FY2027
Increasing internet proliferation in India is
expected to drive the growth of India telemedicine market through FY2027.
According to TechSci Research report, “India
Telemedicine Market By Component (Services & Software v/s Hardware), By
Deployment Mode (Cloud v/s On-Premise), By Type (Tele-Hospitals, mHealth,
Tele-Homes), By Technology (Store & Forward, Real Time, Others), By
Delivery Mode (Audio-Visual, Only Audio, Written), By Application
(Tele-Psychiatry, General Consultations, Tele-Radiology, Tele-Pathology,
Others), By End User (Patients, Provider, Payers), By Company, By Region,
Forecast & Opportunities, FY2027”, India telemedicine market stood at
USD1314.83 million in FY2021 and is expected to grow at a robust CAGR of around
22.31% during the forecast period. This can be attributed to the improving
telecommunications infrastructure. Furthermore, various government policies and
programs launched to support the telemedicine infrastructure in the country is
expected to support the market growth.
For instance, in March 2020, the Ministry of
Health & Family Welfare, Government of India in partnership with the NITI
Aayog formulated telemedicine practice guidelines for India. However, factors
such as lack of infrastructural facilities especially in tier-3 cities and
rural parts of the country can restrict market growth through FY2027. Also,
there is still a lack of awareness among the population with respect to
telemedicine and its benefits. This has in turn led to reduction in adoption of
telemedicine services by the people in India which thereby hampers the market
growth through FY2027.
Also, behavioral barriers in terms of use and
adoption of telemedicine services both with respect to patients and doctors can
further restrict the market growth. Physicians and patients often face a lack
of familiarity with new practices and do not readily give up existing
(conventional) practices. Older people may also refuse to use telehealth and
telemedicine services due to unfamiliarity with technology. All those factors
pose a challenge to the market growth.
Browse 46 Figures spread through 70 Pages and an in-depth
TOC on “India Telemedicine Market”.
https://www.techsciresearch.com/report/india-telemedicine-market/7374.html
India telemedicine market is
segmented into component, deployment mode, type, technology, delivery mode,
application, end user, region, and company. Based on component, the market can
be split into software & services and hardware. The software & services
are expected to dominate the market in FY2021 with a share of around 75.12% on
account of the increasing adoption of telehealth and telemedicine. Based on
application, the market can be fragmented into tele-psychiatry, general
consultations, tele-radiology, tele-pathology, and others. The tele-psychiatry
dominated the market in FY2021 on account of the deteriorating mental health of
population across the country.
Additionally, sudden outbreak and
spread of COVID-19 has also increased the instances of several mental problems,
stress, anxiety, among others in the population requiring treatment. Also,
visiting a psychiatrist or psychologist is not taken as positive in India and
people usually avoid going to a psychiatrist or psychologist due to societal
factors. However, with telemedicine services they can visit the psychiatrists
from their homes without anyone judging them or forming an opinion about their
mental state. This in turn is expected to support the segmental growth.
Apollo Telehealth Services Private
Limited, Practo Technologies Private Limited, 1MG Technologies Private Limited,
DocOnline Health India Private Limited, Lybrate India Private Limited, Netdox
Health Private Limited, Allscripts Healthcare Technologies (India) Private
Limited, Dhanush Digital Health Private Limited, Novocura Tech Health Services
Private Limited, Zoylo Digihealth Pvt Ltd, Vidmed Health Technologies Private
Limited, TeleVital India Pvt Ltd, Neurosynaptic Communications Private Limited,
Netmeds Marketplace Limited, Netdox Health Private Limited, among others. The
companies operating in the market are following organic strategies such as new
service launches, providing add-on facilities and services to their clients,
improvising their telemedicine services, among others to stay competitive in
the market and have an edge over the other players.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7374
Customers can also request for 10% free
customization on this report.
“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 propelling the
telemedicine market demand until FY2027.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“India Telemedicine
Market By Component (Services & Software v/s Hardware), By Deployment Mode
(Cloud v/s On-Premise), By Type (Tele-Hospitals, mHealth, Tele-Homes), By
Technology (Store & Forward, Real Time, Others), By Delivery Mode
(Audio-Visual, Only Audio, Written), By Application (Tele-Psychiatry, General
Consultations, Tele-Radiology, Tele-Pathology, Others), By End User (Patients,
Provider, Payers), 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 India telemedicine market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/