Top Companies in the India Telemedicine Market

Koninklijke Philips N.V., Practo, TeleVital, Veradigm, Inc., DocOnline, Lybrate, Inc, Dhanush Healthcare Systems Private Limited, Plum Telehealth, XpressCure, are leading the India telemedicine market.

The India telemedicine market was valued at USD 2 billion in 2023, driven by increased internet penetration and the rising innovations in healthcare technology in the region. The market is expected to grow at a CAGR of 25.24% during the forecast period of 2024-2032, with the values likely to reach USD 15.2 billion by 2032.

The easy availability of internet networks and rising understanding of the features of telemedicine in India is playing an instrumental role in the market development. One of the most common factors supporting the market expansion is the growing geriatric population and increasing rate of people migrating from one city to another or state where it gets challenging for a person to find a healthcare professional reliable enough. The overall escalation of digitisation, especially in the healthcare domain is a core driver supporting the market growth.

Increasing internet penetration, the launch of telemedicine clinics, investment, and strategic partnerships are some of the major factors boosting the market value. The rising interest of the Indian government in telehealth services and the development of various initiatives aimed at promoting digital healthcare and telemedicine play a vital role in the market boost. Additionally, the integration of advanced technologies such as artificial intelligence and machine learning in the healthcare setting has improved diagnosis procedures and several other procedures. These technologies have revolutionised the healthcare space and boosted market value. The market is witnessing strategic collaborations to develop technologies that will assist healthcare professionals and reduce patient hassle for a seamless telemedicine experience.

India is experiencing several movements in the market by key players and potential players. The market is expanding gradually due to several initiatives taking place aimed at promoting telemedicine. In July 2024, SATYA MicroCapital Limited, a microfinance institution, and M-Swasth, a digital healthcare service provider collaborated to launch a free-of-cost Telemedicine and E-Clinic Service in India. The launch is focused on providing accessibility to healthcare facilities to people living in rural, semi-rural, and semi-urban areas operated by a Community Health Facilitator (CHF). Such initiatives promote the application and usage of telemedicine in India where a major chunk of the population lives in rural areas and is usually unable to receive timely consultation and treatment from healthcare providers.

Top Companies Leading the India Telemedicine Market in 2024

1.    Koninklijke Philips N.V.

Commonly recognised as Philips, Koninklijke Philips N.V. is a diversified technology company focusing on healthcare, consumer lifestyle, and lighting. The company is a significant player in the Indian telemedicine market as it stands strong with its healthcare technologies. Philips provides multiple solutions in the telemedicine market to enhance healthcare accessibility in rural areas and underserved areas. Philips offers telehealth solutions such as remote patient monitoring systems and telehealth platforms.

2.    Practo

Practo is a digital healthcare company that offers a comprehensive platform connecting patients with healthcare providers. The company provides integrated healthcare platforms such as online doctor consultations, appointment booking, digital health records, and medicine delivery services. Practo has been instrumental in bringing telehealth and making it accessible to the Indian population where internet penetration is only increasing.

3.    TeleVital

TeleVital is a telehealth pioneer in the Indian market. The company aims to provide telemedicine solutions focused on real-time health monitoring and remote consultations. They offer a range of services including telecardiology, telepathology, and teleconsultation platforms, aimed at connecting patients with healthcare professionals for timely and effective medical advice and treatment, especially in remote and rural areas.

4.    Veradigm, Inc.

Veradigm Inc. is a healthcare technology company providing data-driven solutions for healthcare professionals and payers. Their portfolio includes electronic health records, practice management, and clinical data solutions. The company has played a critical role in the Indian telemedicine market with its healthcare analytics as well as IT offerings.

 
5.    DocOnline

DocOnline offers telemedicine services, including virtual consultations, online prescriptions, and health management plans. The company focuses on providing daily life consultations and affordable healthcare services to patients suffering from any medical issues. The company plays a vital in filling a crucial gap of communication between a doctor and patient, ensuring timely medical advice and treatment.

6.    Dhanush Healthcare Systems Private Limited

Dhanush Healthcare Systems specializes in healthcare IT solutions, including telemedicine, electronic health records, and health management systems. The company provides technology-based mobile healthcare solutions, pivotal in enhancing quality, accuracy, and speed while reducing efforts, cost, and time.

7.    Plum Telehealth

Plum Telehealth offers telemedicine solutions, focusing on providing virtual healthcare services to patients. Their platform includes video consultations, remote diagnostics, and digital health records. The company provides high-quality health insurance and telehealth services for everyone. With their intuitive app designs they make it easy for the user to access the best and a personalised experience.

8.    XpressCure

XpressCure is a telehealth service provider that connects patients with healthcare professionals for virtual consultations. They offer a platform for online doctor visits, prescription services, and health advice. The company aims to build a chain of digital clinics in rural to enhance healthcare accessibility for the ones underserved.