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 Mobile Healthcare industry.
New Industry Report on India Mobile Healthcare 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 was valued at INR 107.51 Billion in 2021. It is expected to reach INR 545.38 Billion by 2027, expanding at a CAGR of 29% during the FY 2022 to FY 2027 period.
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Market insights
The rapid penetration of smartphones and the internet, as well as supportive government policies have propelled the growth of the market. The second wave of COVID-19 fuelled the adoption of mobile healthcare as a comprehensive strategic plan for disease management. In the wake of the pandemic, it is being used actively to maintain social distancing and for contact tracing, disease monitoring, and exchanging data. However, the uncertain performance of various mobile healthcare solutions and inadequate technology infrastructure are major challenges to its adoption.
Segment insights:
The market is categorized into two key segments Devices and services. The devices segment consists of wearables and monitoring gadgets that are expensive for low-income groups. The services segment comprises healthcare apps, which offer similar functions such as heart rate and blood pressure monitoring, and sleep tracking at considerably low prices. They even come with free trials for customers.
A major section of the population prefers healthcare applications because they work easily on mobile devices, are affordable, and are interoperable, which is not the case for devices. The increased adoption of mobile healthcare apps, owing to improved healthcare delivery and clinical outcomes is projected to drive the growth of the mobile healthcare services market.
The demand for health condition management apps is expected to spurt during the forecast period. This is because of the increase in the adoption rate of disease-specific apps, online consultation apps, women’s health and pregnancy apps, and medication reminder apps. Also, sensor technologies can be utilized to make mobile devices important components of diagnosis as diagnostic tools to address several real-life challenges.
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Impact of COVID-19:
The healthcare industry witnessed radical changes in terms of consumer behavior. Some of the key changes are the adoption of connected devices, focus on disease prevention, and enhanced patient engagement. COVID-19 has disrupted the nationwide healthcare system and has positively impacted the mobile healthcare market.
Digital and e-services platforms such as e-pharmacy and online consultation further developed because of the pandemic. Mobile healthcare has the potential to grow into a large market since it has gained momentum recently. The second wave of COVID-19 led to a tremendous boost in sales and aftermath of the third wave is projected to add to this growth.
The sale of devices such as pulse oximeters, blood pressure monitors, digital thermometers, and glucometers had surged in the second quarter of 2020. Amazon and Flipkart have witnessed a record spike in the sale of SpO2 oximeters; since April 2021.
Competitive insights
The mobile healthcare market comprises various start-ups that face intense competition from each other. The players are focused on scaling up their businesses and portfolios to address the high potential of the market.
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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 Mobile Healthcare. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for India Mobile Healthcare 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.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
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 Mobile Healthcare Market Report:
- What is the projected size of the India Mobile Healthcare market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the India Mobile Healthcare industry?
- What are the major market trends that are affecting the expansion of the India Mobile Healthcare market?
- What obstacles must be overcome in order to achieve sustained growth in the India Mobile Healthcare market?
- What opportunities and threats do vendors in the India Mobile Healthcare Market face?
- What are the raw materials and manufacturing equipment used in the production of India Mobile Healthcare, and what is the manufacturing process?
- What are the different types and applications of India Mobile Healthcare, 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 Mobile Healthcare market?
- What factors are driving the growth of the India Mobile Healthcare market in the top regions worldwide?
- Who are the major players in the India Mobile Healthcare market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the India Mobile Healthcare market?
- What are the main findings of a five forces analysis of the India Mobile Healthcare 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 Mobile Healthcare Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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