TELEMEDICINE MARKET OF INDIA

Posted on 1 Jul 2022

TELEMEDICINE MARKET OF INDIA

INTRODUCTION

India Telemedicine Market has been segmented by service areas such as Tele-radiology, Tele-consultation, Tele-ophthalmology, Tele-ICU, Tele-dermatology, Tele-surgery, Tele- pathology and Tele-psychiatry. Tele-consultancy is the second largest contributor to the revenue earned by Indian telemedicine industry. Tele-ICU has been regarded as the third largest category in the telemedicine market of India.

Considering the above facts, Hospaccx team is involved in the market trends and dynamic of telemedicine market. This is macroficial study of telemedicine market in India if you want to get into more details you can contact hospaccxconsulting.com

HISTORY OF TELEMEDICINE

In the early 1900s: radio revolutionized communication. Inspired by radio’s sudden prominence in every field from entertainment to national defence.

1924: A Radio News Magazine featured an illustration of a doctor attending to a patient via video call, under the headline “The Radio Doctor–Maybe!”

1940s: Pennsylvania, radiology images were sent 24 miles between two townships via telephone line in the world’s first example of an electronic medical record transfer.

1950: A Canadian doctor built upon this technology, constructing a teleradiology system that was used in and around Montreal.

In the early 1960s: telemedicine appeared in urban communities as well, touching down in the world of emergency medicine. 

1967: The University Of Miami School Of Medicine partnered with the local fire department to transmit electrocardiographic rhythms over radio to Jackson Memorial Hospital in rescue situations. 

In the 1960’s and 70’s: the Public Health Department, NASA, the Department of Defence and the U.S. Health and Human Services Department all invested time and money for research in telemedicine.

GLOBAL TELEMEDICINE MARKET

The global telemedicine market generated $21.5 billion revenue in 2017 and is predicted to progress at a CAGR of 14.8% during 2018–2023.
The telemedicine market in Asia-Pacific is expected to register the fastest growth during the forecast period, at a CAGR of 21.0%.

TELEMEDICINE MARKET OF INDIA

India’s telemedicine market, which has been growing at a compounded annual growth rate (CAGR) of over 20%, is slated to cross $32 million mark by 2020.

It is estimated that 150 thousand people in India are already benefitting from telemedicine every year.
Growth in the telemedicine market is expected to be driven by India’s lacking healthcare infrastructure and shortage of hospitals and doctors, especially in the rural areas.

MARKET DRIVERS FOR TELEMEDICINE IN INDIA

Increasing prevalence of chronic and lifestyle associated diseases, rising healthcare cost, increasing government funding and grants for telemedicine.

Increasing number of smart phone user, consistent need for improved healthcare quality services, and surging demand for self-care in remote location are the major factors driving the telemedicine market growth.
Due to easy accessibility, convenience and affordability several patients are opting for e-health.

CHALLENGES FOR TELEMEDICINE IN INDIA

Credentials of the physicians: It is a critical issue to note that the genuine doctors are offering their services through telemedicine. It is difficult to recognize. There is a need to ensure that the doctors should be legally eligible for medical practice.

Lack of knowledge: The barrier of digital literacy to access the digital healthcare services is a major challenge. This prevents many people to access digital healthcare. 
Licensing of the physicians: In every state, there is some kind of law for the licensing of the physicians offering telemedicine services. It can be a problem for many doctors 
Limited use by the existing patients: Telehealth allows the doctors to care for their patients remotely. However, the existing patients already have made a relationship with their doctors so it can be difficult for them to rely on the telemedicine.

LIST OF TELEMEDICINE SERVICE PROVIDERS IN INDIA

Apollo TeleHealth

Apollo Hospitals Close to 17 years of experience in the field of Telemedicine has created the largest and oldest multi-specialty Telemedicine network in South Asia. Apollo Tele Health Service (ATHS) specializes in integrated healthcare delivery to provide Tele consultations, Tele Radiology, Tele Cardiology, Tele Condition Management, e-ICU services among others.

KRIA Healthcare

It is a progressive healthcare company specializing in innovative quality patient care, integrating physical, mental and social well-being. The focus on a broader spectrum of health including primary medical care, mental & behavioural health, and social health services.

Telerad Foundation

The Telerad Foundation is the concept and passion of the founders of Tele-radiology Solutions. The Foundation founded in 2007, to support Tele-radiology for remote areas has expanded into Telemedicine services and education. 

Vidmed

India’s first Pharmacy based Tele-health Company legally enabling consumers to consult a Doctor virtually and receive medicines through Pharmacists with a valid prescription via mail and SMS.

World Health Partners

Founded in 2008, World Health Partners offers more than 212,000 teleconsultations largely for primary care in India and Kenya.

CONCLUSION

Adoption of the Telemedicine has become a reality all over the India. The ubiquitous smartphone, accessibility of the Internet, digital awareness and changing healthcare industry has increased the demand for the telemedicine and telehealth technology. Hence, this market is poised to witness the highest growth in coming years.

Are you planning to venture in Telemedicine in India? Looking for information about the major healthcare players in Telemedicine that are available in India? In this article Hospaccx Healthcare Consultancy has mapped all on major players in terms of telemedicine market in India.

It is the superficial and macro level survey if you need more details kindly contact Hospaccx Healthcare business consulting Pvt. ltd on hospaccx.india@gmail.com Or you can visit our website on hospaccxconsulting.com