india telemedicine market size, share and forecast 2027 | techsci research
DESCRIPTION
According to #TechSci Research report on India Telemedicine Market, the increasing prevalence of chronic diseases and cost-effectiveness of telemedicine is expected to drive the demand for India telemedicine market by 2027. Report URL - https://bit.ly/3vu38Yw Visit our website @ https://www.techsciresearch.com/ For more market research news visit our blog: https://techsciblog.com/TRANSCRIPT
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
S. No. Contents Page No.
7. North India Telemedicine Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
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. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Component
8.2.2. By Deployment Mode
8.2.3. By Type
8.2.4. By Application
8.2.5. By End User
5
Table of Contents
S. No. Contents Page No.
9. East India Telemedicine Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Component
9.2.2. By Deployment Mode
9.2.3. By Type
9.2.4. By Application
9.2.5. By End User
10. West India Telemedicine Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Component
10.2.2. By Deployment Mode
10.2.3. By Type
10.2.4. By Application
10.2.5. By End User
6
Table of Contents
S. No. Contents Page No.
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
Research Methodology
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
Research Methodology
• 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
Research Methodology
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.
13© TechSci Research
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
14© TechSci Research
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FORECAST & OPPORTUNITIES
FY2017 – FY2027
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.
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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.
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