As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the India Healthcare Apps industry.
New Industry Report on India Healthcare Apps Market Status and Prospects [2023-2032] has been released. The report is 100 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request Free a Sample Copy
The market in India was valued at INR 43.41 Billion in 2020. It is estimated to reach INR 337.89 Billion by 2026, expanding at a CAGR of 39.37% during the 2021-2026 period.
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Market insights
The healthcare apps market is dominated by small and medium-sized start-ups that are trying to expand their reach further. Stakeholders in the Indian healthcare ecosystem are focusing on leveraging healthcare apps to make up for the shortcomings of traditional infrastructure. During the pandemic, the use of healthcare apps for online consultations, lab test bookings, and monitoring and tracking of patients’ vitals went up.
An increasing focus on patient-centric care, emergence of advanced technologies, and changing business models have been crucial in driving the healthcare apps market in India.
Wellness management and appointment scheduling apps have gained immense popularity. The demand for chronic disease management apps is expected to grow rapidly in the next few years.
Market influencers
Digital transformation, coupled with substantial support from the government, has aided the growth of the healthcare apps market in India. The digital footprint of the country has been strengthened by a swift growth in the number of mobile subscribers and Internet users in the country. The number of smartphone adopted was 810 million in 2020 and is expected to surpass 1.2 billion by 2026.
The market has faced significant challenges due to lack of awareness, security issues, and unsatisfactory app performance. Moreover, for most consumers, fitness and wellness management are the areas of primary concern. They are unaware about the types of healthcare apps that are available for various health issues. Also, stakeholders are uncertain about the performance and efficiency of apps because of the unavailability of clinical performance data. Although digitization has disrupted the Indian healthcare landscape, a significant part of the population is still unaware about the benefits of healthcare apps.
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Impact of COVID-19
The onset of COVID-19 triggered a structural change in the Indian healthcare system by encouraging people to use healthcare technologies. Numerous healthcare apps have been introduced by the central and state governments to combat COVID-19. These apps are being used for digital contact tracing of confirmed and potential patients, ensuring compliance with quarantine guidelines, spreading awareness, providing updates about COVID-19 statistics, and issuing advisories.
Since the outbreak of the pandemic, numerous healthcare apps have been launched by the central and state government authorities, which have been developed and designed by various IT companies. The issuing of Telemedicine Practice Guidelines by the Indian government in March 2020 boosted the adoption of healthcare apps. The major concerns regarding the existence of several apps are duplication of efforts, low penetration, and lack of data privacy.
Competitive insights
The highly competitive healthcare apps market in India is fragmented and has many small and medium-sized players. Several non-healthcare companies, including IT and software development companies, technology companies, and app development agencies have entered the industry. However, the market is still in the nascent stages players are still experimenting with different business models to accomplish monetization. Among the various models, licensing, third-party app development, in-app advertising, and pay-per-download have achieved significant success.
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for India Healthcare Apps. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for India Healthcare Apps is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the India Healthcare Apps Market Report:
- What is the projected size of the India Healthcare Apps market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the India Healthcare Apps industry?
- What are the major market trends that are affecting the expansion of the India Healthcare Apps market?
- What obstacles must be overcome in order to achieve sustained growth in the India Healthcare Apps market?
- What opportunities and threats do vendors in the India Healthcare Apps Market face?
- What are the raw materials and manufacturing equipment used in the production of India Healthcare Apps, and what is the manufacturing process?
- What are the different types and applications of India Healthcare Apps, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the India Healthcare Apps market?
- What factors are driving the growth of the India Healthcare Apps market in the top regions worldwide?
- Who are the major players in the India Healthcare Apps market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the India Healthcare Apps market?
- What are the main findings of a five forces analysis of the India Healthcare Apps market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our India Healthcare Apps Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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