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Telehealth Services in India - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Telehealth Services Market in India Market size is estimated at USD 3.26 billion in 2024, and is expected to reach USD 9.54 billion by 2029, growing at a CAGR of 23.95% during the forecast period (2024-2029).
The telehealth Services Market of India is one of the most impactful digital health innovations over the past decade. Remote patient monitoring is a key parameter of telehealth services, which provides healthcare professionals the advantage of monitoring patients from a distance. In 2020, The Ministry of Health and Family Welfare (MoHFW), NITI Aayog, and the Board of Governors (BoG) Medical Council of India (MCI) released the initial formal guidelines to regulate practices across the nation. This regulation democratized healthcare delivery, especially telemedicine, in the country.
The COVID-19 pandemic has been a tipping point for India's Telehealth market, with multifold growth in the volume of Telehealth requests received by leading market participants. Growing smartphone and internet penetration in rural areas, greater public awareness about the availability of virtual visits as an alternative to physical consultations, and access to affordable home monitoring devices are key aspects driving the adoption of Telehealth products and services in the country. With 62% of India's total disease burden attributed to chronic diseases, RPM and mHealth segments have immense potential to act as alternative healthcare delivery channels in the country.
The adoption of Telehealth among the aged population is expected to increase significantly over the next decade in developed countries. Therefore, the rapid increase in the aged population and the rising adoption of Telehealth among this segment of the population is estimated to propel the growth of the Telehealth market over the forecast period. The rise in the demand for remote patient monitoring among healthcare professionals due to improved patient outcomes and compliance rates is expected to propel the growth of the India Telehealth Services Market over the forecast period. The common barriers to the adoption of Telehealth in India include lack of awareness particularly in Tier-3 cities, towns and rural India, unavailability of proper healthcare IT infrastructure, among others.
India Telehealth Service Market Trends
Increased Penetration on mHealth Applications
The Telehealth Service Market is a fast-emerging sector in India. Virtual care constituting tele-consulting, telepathology, teleradiology, and e-pharmacy is experiencing a stimulus in India. Major hospitals in India such as Apollo, AIIMS, and Narayana Hrudayalaya have adopted telemedicine services and entered into several PPPs (Public-Private Partnership). The domestic telehealth market is expected to reach US$ 5.5 billion by 2025.
By September 21, 2021, the Health Ministry's eSanjeevani telehealth service crossed 12 million teleconsultations since its launch, enabling patient-to-doctor consultations, from the confines of their homes, and doctor-to-doctor consultations.
With social distancing and self-isolation to fight the COVID-19 pandemic, telehealth is emerging as a critical tool to connect physicians and other healthcare professionals with patients dealing with chronic cardiovascular conditions. In COVID-19, there is a 78% hike in e-Consultation and mHealth Services across India for chronically diseased patients with Heart, Lung, Liver, and Kidney diseases.
Narrowing Gap in Tier-1 and Tier-2,3 Cities Telehealth Services
The healthcare scenario for tier II and III cities is completely different from that of tier I, and so are the Telehealth Services. Telemedicine has also helped bridge the urban-rural healthcare divide by bringing super-specialty support to tier 2/3 cities and rural areas. Disruptive startups are driving this new health-tech revolution in smaller towns and rural areas across India. Many companies like DoctorOnCall have taken initiatives of serving Tier 2-3 cities through Telehealth services. Doctor On Call has served patients from 150 cities till now. They have been able to do this by effectively reaching out to their target audience via a mix of online and offline distribution channels. With a tech-backed hospitalization product in the pipeline, the hospitals and telemedicine companies are also focusing on doubling city count and doctors count on the platform.
India Telehealth Service Industry Overview
The Telehealth Services Market in India is growing and moderately competitive across the country offering a huge number of competitive players dominating the market, nowadays grabbing the market more powerfully by the new innovations and partnerships with the foreign telehealth services players yielding opportunities to the Market, thus it has made the Telehealth Services Market in India very competitive and strong. International chains and their brands such as Amway and others are widely famous but altogether the Indian Telehealth groups such as Apollo, 1mg, Televital, and many others have been focusing on tieng up with the most popular Hospitals or Diagnostic Centers or Doctors or Retired Surgeons with enhanced technology innovations and offering more platforms for Telehealth services, thus, leading the Telehealth Services Market in India to the new heights and expected to grow throughout the forecasted period.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of Study
2 RESEARCH METHODOLOGY
3 EXCEUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Various Regulatory Trends Shaping Telehealth Services Market in India
4.5 Insights on Impact of Technology and Innovation in Telehealth Services
4.6 Insights on Performance of Telehealth Services in India
4.7 Industry Attractiveness - Porters' Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitutes
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Services and Software
5.1.2 Hardware
5.2 By Technology
5.2.1 Store and Forward
5.2.2 Real Time
5.2.3 Others
5.3 By Application
5.3.1 Tele-Psychiatry
5.3.2 General Consultations
5.3.3 Tele-Radiology
5.3.4 Tele-Pathology
5.3.5 Others
5.4 By End-User
5.4.1 Providers
5.4.2 Patients
5.4.3 Players
5.4.4 Others
5.5 By Region
5.5.1 South
5.5.2 West
5.5.3 North
5.5.4 East
5.6 By Delivery Mode
5.6.1 Audio-Visual
5.6.2 Only Audio
5.6.3 Written
5.7 By Type
5.7.1 e-Consultation
5.7.2 Online Appointment Booking
5.7.3 Telemedicine
5.7.4 Diagnostics and Fitness Monitors
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Apollo Telehealth Services
6.2.2 1 mg Technologies
6.2.3 Netdox Health Private Limited
6.2.4 Dhanush Digital Healthcare
6.2.5 Novocura Tech Health Services
6.2.6 Netmeds Marketplace Limited
6.2.7 Practo Healthcare
6.2.8 Lybrate India
6.2.9 TeleVital India
6.2.10 DocOnline Health India
7 MARKET OPPORTUNTIES AND FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
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