Digital Healthcare Market in India 2019 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Digital Healthcare Market. Some of the key players profiled in the study are Dr. Lal PathLabs Ltd., DocEngage Informatics Pvt. Ltd., Gem3s Technologies Pvt. Ltd., Lybrate India Pvt. Ltd., NovoCura Tech Health Services Pvt. Ltd. (mfine), Practo Technologies Pvt. Ltd., Cerner Healthcare Solutions Pvt. Ltd., Philips India Limited, Siemens Healthcare Pvt. Ltd., Wipro GE Healthcare Pvt. Ltd..
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India has emerged as one of the fastest-growing digital economies over the past few years, characterized by a 90% growth in terms of digital adoption index, from 2014 to 2017. The healthcare sector in India has embraced digital transformation to improve quality and accessibility. In terms of revenue, the digital healthcare market in India was valued at INR 116.61 Bn in 2018, and is estimated to reach INR 485.43 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~27.41% during the 2019-2024 period.
The robust digital footprint of India, coupled with supportive government policies, has played an instrumental role in driving the growth of the digital healthcare market. The Digital India program, initiated in 2015, has strengthened the digital infrastructure required in the healthcare industry. The number of Internet subscribers increased from 251.59 Mn in 2014 to 493.96 Mn in 2018. On the other hand, the number of mobile phone users grew to 1,188.99 Mn in 2018 from 904.52 Mn in 2014.
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Players operating in the digital healthcare market experiences stiff competition from each other. The market comprises of various players including start-ups and established global companies, aiming to expand their footprint in India. The presence of numerous players leads to a fragmented market. The relatively untapped market offers high potential and thus attracts significant investment opportunities. Although the market has witnessed the execution of successful pilot projects, there are challenges in scaling up the pilots to meet industry requirements.
Market Segmentation Based on Type:
Based on type, the digital healthcare market is segmented into telehealth, mHealth, electronic health records/electronic medical records (EHR/EMR), and others (remote diagnostics and healthcare analytics). The mHealth segment is estimated to dominate the market, with ~40.64% of revenue share in 2024, followed by the telehealth segment. Enhanced accessibility and convenience encourage patients to embrace mHealth services and solutions, including healthcare apps and wearable devices.
Emerging technologies such as artificial intelligence (AI), machine learning, Blockchain, Internet of Things (IoT), Internet of Medical Things (IoMT), and Big Data analytics have helped in shaping the digital healthcare market. The advanced algorithm based on AI and machine learning has the potential to analyze complex medical data and thus predict treatment and care plans for patients. IoT and IoMT have contributed to the growth of the digital healthcare market through the introduction of smart bands, smartwatches, smart glasses, connected medical devices for remote monitoring, and location-based trackers.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Digital Healthcare market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Digital Healthcare near future?
What is the impact analysis of various factors in the Digital Healthcare market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Digital Healthcare Market
• Digital Healthcare Size (Sales Volume) Comparison by Type (2019-2025)
• Digital Healthcare Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Digital Healthcare Size (Value) Comparison by Region (2019-2025)
• Digital Healthcare Sales, Revenue and Growth Rate (2019-2025)
• Digital Healthcare Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Digital Healthcare
• Digital Healthcare Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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