India Telemedicine Market, By Component (Services & Software v/s Hardware), By Deployment Mode (Cloud v/s On-Premise), By Type, By Technology, By Delivery Mode, By Application, By End User, By Region, Competition Forecast & Opportunities, FY2027

The Indian 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 ascribed to the improving healthcare IT infrastructure across the country coupled with increasing digitization in India. Additionally, the growing prevalence of chronic and infectious diseases in the country with a shortage of healthcare professionals and physicians are further expected to support the market growth through FY2027. Besides, the sudden outbreak and spread of COVID-19 across the country and imposition of strict nationwide lockdown to curtail the virus spread new opportunities for the growth of telemedicine market across India. Due to the fear of virus spread and catching infection, the patients and their families avoided visiting hospitals and physicians’ clinics and preferred consulting remotely through telemedicine services. In addition, the hospitals and doctors focused on providing treatment and assistance specifically to COVID-19 patients and the outpatient services were also shut. Hence, the outpatient patients preferred availing telemedicine services. This in turn is expected to positively influence the market growth over the next few years. In October 2020, the Insurance Regulatory and Development Authority of India (IRDAI) asked the insurance companies to allow claim settlement for telemedicine consultation wherever normal consultation with a medical practitioner is allowed in the terms and conditions of the policy contract. This in turn is expected to boost the market growth over the next few years. Additionally, supportive government policies & schemes such as the Government of India’s eSanjeevani initiative has gained a lot of popularity among the doctors, telemedicine companies and patients as well.

The Indian Telemedicine Market is segmented into component, deployment model, type, technology, delivery mode, application, end-user, region, and company. In terms of deployment model, the market can be split into cloud and on-premises. The cloud segment is expected to dominate the market in FY2021 with an overall market share of around 71.68%. This can be attributed to the benefits such as the provision of remote accessibility of data and overall reduced operational costs associated with the cloud segment. In terms of type, the market can be segmented into tele-hospitals, mHealth and tele-homes. The tele-hospitals segment is expected to dominate the market through FY2027. This can be attributed to the increasing adoption and usage of telemedicine services in hospital setting to consult various specialists by doctors. This not only resulted in cost savings for the hospital but also for the patient. While tele-homes segment will also witness growth in the coming years on account of the increasing digitization and increasing internet proliferation across the country. Also, a growing health-conscious population coupled with supportive government policies and initiatives are expected to create lucrative opportunities for segmental growth over the next few years.

The major players operating in the Indian Telemedicine Market include 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.

Years considered for this report:

• Historical Years: FY2017-FY2020
• Base Year: FY2021
• Estimated Year: FY2022
• Forecast Period: FY2023-FY2027

Objective of the Study:

• To analyze the historical growth in the market size of the Indian Telemedicine Market from FY2017 to FY2020.
• To estimate and forecast the market size of the Indian Telemedicine Market from FY2021 to FY2027 and growth rate until FY2027.
• To classify and forecast the Indian Telemedicine Market based on component, deployment mode, type, technology, delivery mode, application, end- user, region, and company.
• To identify dominant region or segment in the Indian Telemedicine Market
• To identify drivers and challenges for the Indian Telemedicine Market
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Telemedicine Market.
• To identify and analyze the profile of leading players operating in the Indian Telemedicine Market.
• To identify key sustainable strategies adopted by market players in the Indian Telemedicine Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of service providers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers who could not be identified due to the limitations of secondary research. The publisher analyzed the service providers, distribution channels and presence of all major players across the country.

The publisher calculated the market size of the Indian Telemedicine Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Telemedicine service provider companies
• Hospitals & Clinics, Ambulatory Care Centers, Doctors/Healthcare Professionals
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to telemedicine market

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Indian Telemedicine Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Telemedicine Market, By Component:

• Services & Software
• Hardware

India Telemedicine Market, By Deployment Mode:

• Cloud
• On-premise

India Telemedicine Market, By Type:

• Tele-Hospitals
• mHealth
• Tele-Homes

India Telemedicine Market, By Technology:

• Store & Forward
• Real Time
• Others

India Telemedicine Market, By Delivery Mode:

• Audio-Visual
• Only Audio
• Written

India Telemedicine Market, By Application:

• Tele-Psychiatry
• General Consultations
• Tele-Radiology
• Tele-Pathology
• Others

India Telemedicine Market, By End-User:

• Patients
• Provider
• Payers

India Telemedicine Market, By Region:

• South
• West
• North
• East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Indian Telemedicine Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.