The “Digital Healthcare Market in India” report has been added to ResearchAndMarkets.com’s offering.
Digitization in healthcare refers to the integration of digital technologies into medical practices to enhance the delivery of care, improve patient outcomes, and streamline healthcare processes. This transformation encompasses various innovations, including electronic health records (EHRs), telemedicine, mobile health applications, and wearable devices. The shift towards digital healthcare is driven by the need for more efficient, accessible, and personalized medical services.
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Digital healthcare involves devices, such as smartwatches and smart bands, blood glucose monitors, blood pressure monitors, blood-O2 saturation meters (pulse oximeters), neurological monitors, and sleep apnea monitors.
Healthcare apps are an important segment in the digital healthcare market, which includes wellness management apps, disease and treatment management apps, e-prescription apps, and EMR apps.
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Market trends:
Telemedicine has gained substantial traction, especially after the pandemic, with the market expected to expand at a CAGR of 24% from 2023 to 2030. The convenience of virtual consultations is bridging the gap between urban and rural healthcare access, supported by government efforts to enhance telemedicine services across the country.
Key features of telemedicine platforms encompass virtual consultations facilitated through video calls or chat, electronic prescription services, and the capability to digitally share diagnostic reports.
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Market drivers:
The rapid expansion of the healthcare market has encouraged players to address the gaps and continue the growth momentum. Digital integration can address challenges, such as limited access to healthcare facilities in rural areas, insufficient healthcare resources, and poor-quality standards. Penetration of digital technologies can help industry stakeholders focus on patient-focused care.
A significant increase in the arrival of medical tourists plays a key role in driving the digital revolution of the healthcare industry in India. Improved awareness among patients, demand for access to information, and focus on transparency of treatment and diagnosis procedures have led to the adoption of digital healthcare solutions among patients.
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In India, there has been a push for value-based healthcare services to achieve the best outcomes for patients at minimal costs.
Key deterrents to the growth of the market:
Fragmented regulations happen to be one of the major concerns in digital healthcare. The current legal framework governing digital health lacks clarity. There are insufficient regulations, specifically addressing telehealth and data protection, leading to concerns about patient privacy and data security.
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Healthcare providers and digital platforms handle sensitive personal health data, making them targets for cyber threats. Ensuring data encryption, secure transmission, and storage becomes challenging, especially for smaller health tech startups that may lack advanced security infrastructure. There is a significant risk of data breaches, as highlighted by incidents like the cyberattack on AIIMS, which compromised patient records. Integrating with NDHM’s standards involves compatibility, patient consent, and interoperability issues. Many companies face technical and operational challenges in aligning their systems with NDHM’s framework.
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Source – globenewswire
