Market Research Report
India AI in Healthcare Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||922233|
Delivery time: 2-3 business days
|India AI in Healthcare Market 2019-2025|
|Published: January 14, 2020||Content info:||
India AI in Healthcare Market Size, Share & Trends Analysis Report by Offering (Hardware and Software & Services), By End-User Industry (Hospitals & Healthcare Facilities, Personal Care, Biotechnology & Pharmaceutical Companies), By Application (Diagnosis, Biomarker, Virtual Nursing Assistance, Remote Monitoring of Patients, Drug Discovery, and AI-Enabled Hospital Care), and Forecast 2019-2025
Indian AI in healthcare market is estimated to grow significantly at a CAGR of 50.9% during the forecast period. India is one of the fastest emerging nations for AI in healthcare market in Asia-Pacific region. The Indian pharmaceutical industry has been consistently growing making India as a potential market for the adoption of Artificial Intelligence in healthcare. The affordability of drugs is rising in India due to sustained growth of income. The key players in the Indian market have been successful in increasing the acceptance of biologics and preventive medicine which is a major factor that can drive the growth of AI in healthcare market during the forecast period.
India is one of the most promising regions, however, lack of healthcare infrastructure and clinicians and lower government spending on India healthcare is still a concern. In addition, with the increasing prevalence of non-communicable diseases and increasing pool of geriatric population in India, the healthcare institutions, healthcare professionals and the government of the country are looking for innovative ways for improving the quality of life of the people. The adoption of digital technology in Indian healthcare industry is slow; however, it has a long way to go. AI can solve all the challenges faced by Indian healthcare industry. The innovation in technology is proving to be beneficial in monitoring chronic conditions, diagnosis procedure, drug discovery, assisting in robotic surgery, and others.
The market is segmented on the basis of offering, end-user industry, and application. Based on offering, the market is divided into software & services and hardware. Based on the end-user industry, the market is segmented into hospitals & healthcare facilities, personal care, and biotechnology & pharmaceutical companies. Further, on the basis of application, the market is segmented into diagnosis, biomarker, virtual nursing assistants, remote monitoring of patients, drug discovery, and ai-enabled hospital care.
Moreover, Japanese companies are planning tap medical market of India with funding and technological solutions, aiming at making healthcare more accessible. Japanese venture capital firms such as Spiral Ventures and India Japan Partnership Fund LLP are funding local health tech startups. In addition, these firms are exploring investment opportunities in healthcare industry. For instance, Spiral Ventures in September 2018 has unveiled its plan to invest around $30 million to $50 million in startups in the Indian and Southeast Asian markets (50% of the amount in Indian market).
The market study of the India AI in healthcare market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for IT companies, automobile companies, BFSI companies, private companies, healthcare companies, research institutes, hospitals, and government organizations for the overall market and competitive analysis. The report provides an in-depth analysis on market size, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.