India Telemedicine Market Size, Share and Forecast 2027 | TechSci Research

MARKET INTELLIGENCE . CONSULTINGwww.techsciresearch.com

FY2017 – FY2027

INDIA TELEMEDICINE MARKET

FORECAST & OPPORTUNITIES

2

Scope of ReportProduct of Interest (POI): Telemedicine

Review Period

FY2017 – FY2020

Base Year

FY2021

Estimated Year

FY2022

Forecast Period

FY2023 – FY2027

Year Range

REGION

• North

• South

• East

• West

Telemedicine refers to the practice of caring for patients remotely when the providerand patient are not physically present with each other. Modern technology has enableddoctors to consult patients by using HIPAA compliant video-conferencing tools.

Market Segmentation

DEPLOYMENT MODE

• On-Premise

• Cloud

COMPONENT

• Hardware

• Software

• Service

• Tele-Consulting

• Tele-Monitoring

• Tele-Education

• Tele-Training

• Others• Hospitals

• Clinics

• Homecare

END USER

TYPE

• Telehospitals

• Telehomes

• mHealth

APPLICATION

• Telepathology

• Telecardiology

• Teleradiology

• Teledermatology

• Telepsychiatry

• Others

3

Table of Contents

S. No. Contents Page No.

1. Product Overview (Definition of product and major terminologies used in the report)

2.Research Methodology (Detailed description of the methodology used to conduct the research, Raw data

backup, list of all secondary sources, List of respondents for primary surveys)

3. Impact of COVID-19 on India Telemedicine Market

4. Executive Summary

5. Voice of Customer

6. India Telemedicine Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1.By Component (Hardware, Software, Service (Tele-Consulting, Tele-Monitoring, Tele-Education, Tele-Training, Others))

6.2.2. By Deployment Mode (On-Premise, Cloud)

6.2.3. By Type (Telehospitals, Telehomes, mHealth)

6.2.4.By Application (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, Others)

6.2.5. By End User (Hospitals, Clinics, Homecare)

6.2.6. By Company (FY2021)

6.2.7. By Region (North, South, East, West)

6.3. Product Market Map

4

Table of Contents


7. North India Telemedicine Market Outlook


7.1.1. By Value


7.2.1. By Component

7.2.2. By Deployment Mode

7.2.3. By Type

7.2.4. By Application

7.2.5. By End User

8. South India Telemedicine Market Outlook


8.1.1. By Value


8.2.1. By Component


8.2.3. By Type


8.2.5. By End User

5

Table of Contents


9. East India Telemedicine Market Outlook


9.1.1. By Value


9.2.1. By Component


9.2.3. By Type


9.2.5. By End User

10. West India Telemedicine Market Outlook


10.1.1. By Value


10.2.1. By Component


10.2.3. By Type


10.2.5. By End User

6

Table of Contents


11. Market Dynamics (This chapter assesses the major demand drivers and restraints.)

11.1. Drivers

11.2. Challenges

12.Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)

13. Policy & Regulatory Landscape

14. India Economic Profile

15. Competitive Landscape

15.1. Competition Outlook

15.2. Company Profiles (Leading Companies)

15.2.1. Company Details

15.2.2. Products & Services

15.2.3. Financials (As Reported)

15.2.4. Key Market Focus & Geographical Presence

15.2.5. Recent Developments

15.2.5. Key Management Personnel

16. Strategic Recommendations

17. About Us & Disclaimer

RESEARCH METHODOLOGY

8

Research Methodology

✓ Identifying Key Opinion

Leaders

✓ Questionnaire Design

✓ In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to

determine top players in the India telemedicine

market, overall market size and segmental market size.

In order to conduct industry experts’

interviews, TechSci formulated a detailed

discussion guide.

List of industry players and industry

specialists was developed.

TechSci conducted interviews with

industry experts and industry players for data collection and

verification.

Data obtained as a result of primary and secondary research was

validated through rigorous

triangulation.

The data was scrutinized using MS-Excel, statistical

tools and internal proprietary database to obtain qualitative and

quantitative insights about the India telemedicine

market.

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

Primary Research Desk Research Company Analysis

✓ Recent Developments

✓ Market Changing

Aspects/Dynamics

✓ Government Policies

✓ Conclusion

✓ Market Participants

✓ Key Strengths

✓ LinkedIn✓ TechSci Internal

Database

✓ Factiva✓ Hoovers

Paid Sources

✓ Company Websites✓ Company Annual

Reports✓ White Paper Study✓ Financial Reports✓ Investor

Presentations✓ Regulatory Body✓ Associations, etc.

Secondary Research

Primary Research

9


Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of the India telemedicine market. The team has analyzed

the outlook of various segments of this market, while considering the major influencing factors such as increasing prevalence of diseases

especially chronic diseases such as cancer, etc. The study includes market forecasting, which would enable our clients to take better decisions

while planning their strategy to achieve sustainability in the India telemedicine market.

Methodology Followed for Calculation of Market Size:

• Market Size by Value: Market size, in terms of value, for the year FY2021 was calculated based on information collected through exhaustive

secondary research and primary surveys, with various key opinion leaders/stakeholders, such as telemedicine companies, channel partners,

market influencers & end users, industry experts, and other industry participants.

• The team interviewed more than 15 – 20 telemedicine companies, 100 – 120 end users, and 15 – 20 industry experts and other value chain

stakeholders in the India telemedicine market to obtain the overall market size from FY2017 to FY2021, which was validated by the Delphi

technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2017-

FY2021.

10


• Respondents were asked about the current and future market growth rates, market shares by component, by deployment mode, by type, by

application, by end user, by company and by region. Removing the outlier responses, the geometric mean of growth estimates and provider

wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated

across various segments were further triangulated from other stakeholders.

Methodology Followed for Calculation of Market Shares:

Market share by component, by deployment mode, by type, by application, by end user, by company and by region were calculated based on

the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or

revenue generated from various segments of telemedicine markets. The final shares were calculated by taking the geometric mean of the

responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in

SPSS/Tableau Software.

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India

telemedicine market, TechSci Research used various forecast techniques such as:

✓ Moving Average

✓ Time Series Analysis

✓ Regression Analysis

✓ Econometric and Judgmental Analysis

11


TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research

also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It

should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the

United States Dollar (USD), with the market size indicated in USD million.

Partial List of Companies Interviewed Key Secondary Sources

• Practo Technologies Pvt Ltd

• IBM India Private Limited

• Wipro GE Healthcare Pvt. Ltd.

• 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. Ltd.

• Cisco Systems India Pvt. Ltd (Cisco Healthcare)

▪ World Bank

▪ TechSci Research Proprietary Database & Knowledge

Repository

▪ Company Annual Reports

▪ Industry Magazines

▪ Industry Reports

▪ News Dailies

▪ Credible Paid Databases

12© TechSci Research

Industry Brief

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.

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.

“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.

https://www.techsciresearch.com/report/india-telemedicine-market/7374.html


Sample Data - Snapshot

India Telemedicine Market Size, By Value (USD Million), FY2017-FY2027F

XX%

5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00

FY2017 FY2021 FY2022E FY2027F

By Value (USD Million)

CAGR By Value CAGR By Value

YY%

India Telemedicine Market Share, By Component, By Value, FY2017–FY2027F

33%33%

33%

33%

33%

33%

33%

33%

33%

33%

33%

33%33%

33%

33%

33%

33%

33%

33%

33%

33%

33%

34%34%

34%

34%

34%

34%

34%

34%

34%

34%

34%

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022E

FY2023F

FY2024F

FY2025F

FY2026F

FY2027F

Hardware Software Service

North India Telemedicine Market Share, By Type, By Value, FY2017–FY2027F

33%33%

33%

33%

33%

33%

33%

33%

33%

33%

33%

33%33%

33%

33%

33%

33%

33%

33%

33%

33%

33%

34%34%

34%

34%

34%

34%

34%

34%

34%

34%

34%

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022E

FY2023F

FY2024F

FY2025F

FY2026F

FY2027F

Telehospitals Telehomes mHealth


Report Ordering

License Type Price

Electronic Access - Single User License $2950

Electronic Access - Multi-User License $3750

Custom Research License $7500

Report Price

To View Sample OR Purchase Report

Report Name: INDIA TELEMEDICINE MARKET

FORECAST & OPPORTUNITIES

FY2017 – FY2027

https://www.techsciresearch.com/report/india-telemedicine-market/7374.html

About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in

number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The

proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’

model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

Related Reports

• India Online Grocery Market By Category (Packaged Food & Beverages, Personal Care, Household Products, Fruits & Vegetables, Others), By

Platform (Mobile Application & Desktop Website), By Region, By Company, Competition, Forecast & Opportunities, 2024

• Global Anti-Aging Products Market By Product Type (Skincare, Haircare), By End-User (Men, Women), By Distribution Channel

(Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, Others), By Region, Forecast & Opportunities, 2025

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considersreliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors oromissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of thisreport. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative marketsize and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

TechSci Research – North America708 Third Avenue, Manhattan,

New York, United StatesTel: +1- 646- 360- 1656

Email: [email protected] www.techsciresearch.com

Disclaimer

TechSci Research – Europe54, Old brook, Bretton,

Peterborough, United Kingdom


TechSci Research – Asia-PacificB – 44, Sector – 57, Noida, National Capital

Region, U.P. - IndiaTel: +91-120-4523900


India Telemedicine Market Size, Share and Forecast 2027 | TechSci Research

Health & Medicine

Transcript of India Telemedicine Market Size, Share and Forecast 2027 | TechSci Research