Report Code: CMI45742

Published Date: April 2024

Pages: 320+

Category: Healthcare

Report Snapshot

CAGR: 28.67%

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: India
Largest Market: India

Major Players

  • Pharmeasy
  • 1mg
  • Netmeds
  • Practo
  • Zoylo
  • DocsApp
  • Portea Medical
  • Others

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Reports Description

India Healthtech Market was valued at USD 6,500 Million in 2024 and is expected to reach USD 78,374.3 Million by 2033, at a CAGR of 28.67%% during the forecast period 2024 – 2033.

Healthtech, short for Healthcare technology, is the broad term for any technology that is used in the healthcare industry. This can include a wide range of things, from medical devices and wearables to electronic health records (EHR) systems and telemedicine platforms.

Healthtech has the potential to improve the quality, efficiency, and affordability of healthcare. For example, telemedicine can make it easier for patients to access care, while wearables can help patients track their health and wellness goals.

The healthtech market is booming, driven by factors such as the aging population, the rising cost of healthcare, and the increasing demand for convenient and accessible care. The healthtech market is constantly evolving, and new technologies are emerging all the time. This is an exciting time for the healthcare industry, as healthtech has the potential to revolutionize the way we deliver and receive care.

India Healthtech Market: Growth Factors

Government Initiatives and Policies

One of the significant drivers propelling the growth of the health tech market in India is the government’s focus on healthcare reforms and digitalization initiatives. Programs like the National Health Policy 2017 and the National Digital Health Mission (NDHM) aim to promote digital health infrastructure, making healthcare services more accessible and affordable across the country.

According to the Ministry of Health and Family Welfare, the NDHM aims to create a national digital health ecosystem, providing a wide range of digital health services to citizens. This initiative is expected to boost the adoption of health tech solutions, such as telemedicine platforms, electronic health records (EHRs), and health information exchange (HIE) systems, driving market growth.

Rising Healthcare Expenditure and Demand for Quality Healthcare

With a growing population and increasing disposable income, there is a rising demand for quality healthcare services in India. The increasing prevalence of chronic diseases, coupled with the need for efficient healthcare delivery systems, is driving the adoption of health tech solutions in the country.

According to the World Bank, healthcare expenditure in India has been steadily increasing, reflecting the growing healthcare needs of the population. This trend is expected to continue, creating significant opportunities for health tech companies to innovate and cater to the evolving healthcare landscape.

As more individuals seek accessible and affordable healthcare solutions, the demand for telehealth, remote monitoring, and health management apps is expected to surge, driving market growth in the coming years.

India Healthtech Market: Restraints

Digital Divide and Infrastructure Challenges

Despite the government’s efforts to promote digital healthcare initiatives, India still faces challenges related to the digital divide and inadequate healthcare infrastructure in rural and remote areas. According to the Ministry of Electronics and Information Technology, access to digital technologies remains uneven, with disparities between urban and rural regions.

Limited internet connectivity, lack of awareness, and infrastructural constraints hinder the widespread adoption of health tech solutions, particularly in rural communities. Addressing these challenges will be crucial to ensuring equitable access to healthcare services and realizing the full potential of health tech innovations in India.

India Healthtech Market 2024–2033 (By Delivery Modes)

Data Privacy and Security Concerns

The rapid digitization of healthcare services raises concerns about the privacy and security of patient data. With the increasing volume of health data being generated and shared through digital platforms, ensuring data privacy and protection against cyber threats becomes paramount.

The lack of robust data protection regulations and cybersecurity measures poses a significant challenge to the adoption of health tech solutions in India. According to the Ministry of Electronics and Information Technology, enhancing cybersecurity infrastructure and implementing stringent data privacy regulations are essential to building trust among healthcare providers and patients.

Addressing these concerns is crucial to fostering a secure and reliable digital health ecosystem in India, thereby mitigating market restraints and facilitating sustainable growth in the health tech sector.

India Healthtech Market: Opportunities

Expansion in Telemedicine

The healthcare system in India faces challenges in reaching the entire population due to geographical barriers, limited infrastructure, and a shortage of medical professionals. Telemedicine is recognized as a solution to bridge these gaps, as highlighted in the National Health Policy 2017.

The Telemedicine Practice Guidelines released in 2020 provided a regulatory framework, boosting confidence among healthcare providers. India’s low doctor-patient ratio underscores the need for telemedicine, as seen in the National Health Profile 2020.

The COVID-19 pandemic accelerated the adoption of telemedicine, highlighting its potential. Investment in telemedicine infrastructure offers market opportunities, supported by initiatives like the Ayushman Bharat Digital Mission, signaling the government’s commitment to leveraging technology for healthcare delivery.

India Healthtech Market 2024–2033 (By Component)

Healthcare data analytics

Health data analytics presents a significant opportunity in India’s healthcare sector, with initiatives like the National Digital Health Mission (NDHM) and the National Health Policy 2017 emphasizing its importance.

The NDHM aims to create a robust health data ecosystem for secure storage, exchange, and analysis of health records, while the National Health Policy underscores the role of health data in evidence-based policymaking and disease surveillance.

India generates around 2.5 petabytes of health data annually, including electronic health records, diagnostic reports, and genomic data, which can be analyzed for insights. The adoption of electronic health records and health information systems facilitates data collection, while advanced analytics techniques like machine learning enable proactive disease management and personalized healthcare.

The market for health data analytics extends to areas like health insurance, pharmaceutical research, and public health initiatives, necessitating collaborations between technology firms, healthcare providers, and research institutions to drive innovation.

India Healthtech Market: Segmentation Analysis

India Healthtech market is segmented by technology, component, End User, Application, and Delivery Modes.

Based on technology, India Healthtech market is segmented into Digital Health Systems, E-Prescribing Systems, Electronic Health Records, Health Analytics, Health Information Technology, mHealth, Apps, Wearables, Telehealthcare, Telehealth, Telecare, and Telemedicine.

Among these segments, Digital Health Systems held the highest market share in 2023. Digital Health Systems encompass a wide range of technologies crucial for modernizing healthcare delivery, including E-Prescribing Systems and Electronic Health Records (EHR).

These systems are fundamental for streamlining patient care and improving overall efficiency in healthcare settings. Mobile health (mHealth) technologies, such as apps and wearables, have seen rapid adoption due to their accessibility and convenience. They offer solutions for remote patient monitoring, health tracking, and disease management, contributing to their fast-paced growth.

Based on Component, India Healthtech market is segmented into Hardware, Software, and Services. Among these segments, Software held the highest market share in 2023. Software forms the backbone of most health tech solutions, including EHR systems, health analytics platforms, and mHealth applications.

It enables the functionality and interoperability of various technologies within the healthcare ecosystem. As healthcare organizations increasingly adopt digital solutions, the demand for services like implementation, training, support, and consulting is growing rapidly. These services are essential for ensuring the successful integration and utilization of health tech solutions.

Based on End-User, India healthtech market is segmented into Healthcare Providers, Healthcare Payers, Healthcare Consumers, Pharmaceutical Companies, Others. Among these segments, Healthcare Providers held the highest market share in 2023.

Healthcare providers, including hospitals, clinics, and individual practitioners, are the primary users of health tech solutions. They drive the adoption of technologies aimed at improving patient care, operational efficiency, and clinical outcomes.

With the rise of patient-centric care models and increased consumer empowerment, there’s a growing emphasis on technologies aimed at engaging and empowering healthcare consumers. Solutions such as health apps, wearable devices, and telehealth services directly cater to the needs and preferences of individuals seeking more control over their health.

Based on Applications, India Healthtech market is segmented into Cardiology, Diabetes, Neurology, Sleep Apnea, Oncology, and Others. Among these segments, Cardiology held the highest market share in 2023. Cardiovascular diseases are a significant health concern in India and globally, driving the demand for innovative technologies for prevention, diagnosis, and management.

Cardiology applications encompass a wide range of solutions, from remote monitoring to diagnostic tools. Diabetes is a rapidly growing health problem in India, with a large and increasing patient population. Technologies targeting diabetes management, such as glucose monitoring devices, insulin pumps, and mobile apps for self-care, are witnessing significant growth in adoption.

Based on Delivery Modes, India Healthtech market is segmented into Cloud-Based and on-premises. Among these segments, Cloud-Based held the highest market share in 2023. Cloud-based delivery offers scalability, accessibility, and cost-effectiveness, making it an attractive option for deploying health tech solutions. It enables seamless data sharing, remote access, and interoperability across healthcare settings.

The adoption of cloud-based delivery modes continues to accelerate due to the growing need for remote access, data sharing, and scalability in healthcare IT infrastructure. Additionally, cloud solutions offer flexibility and rapid deployment, aligning with the dynamic nature of healthcare delivery.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 6,500 Million
Projected Market Size in 2033 USD 78,374.3 Million
Market Size in 2023 USD 4,600 Million
CAGR Growth Rate 28.67% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Technology, Component, End-User, Applications, Delivery Modes and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope India
Buying Options Request tailored purchasing options to fulfil your requirements for research.

India Healthtech Market: Regional Insight

India’s Healthtech market is poised for substantial growth, fueled by a confluence of factors unique to the region. With a population exceeding 1.3 billion, India faces significant healthcare challenges including accessibility, affordability, and quality of care. Healthtech innovations aim to address these issues, leveraging the country’s burgeoning digital infrastructure and increasing internet penetration.

Regional insights reveal a diverse landscape shaped by socioeconomic disparities and varying healthcare needs across urban and rural areas. Urban centers witness a surge in demand for telemedicine platforms, digital health records, and online pharmacy services, driven by convenience-seeking millennials and working professionals. Conversely, rural regions present opportunities for mobile health solutions, targeting underserved populations with limited access to healthcare facilities.

Government initiatives such as the National Digital Health Mission (NDHM) and Ayushman Bharat further propel the Healthtech sector, fostering interoperability, data security, and expanding insurance coverage. However, regulatory complexities and data privacy concerns pose challenges, necessitating collaborative efforts between stakeholders for sustainable growth.

Cultural factors also influence adoption, with traditional beliefs influencing healthcare-seeking behavior and acceptance of technology. Therefore, successful Healthtech solutions in India require localization, cultural sensitivity, and robust partnerships with healthcare providers to bridge the gap between innovation and implementation.

India Healthtech Market 2024–2033 (By Million)

India Healthtech Market: Recent Developments

  • In February 2024, PharmEasy, a leading Indian healthtech platform, announced its foray into online diagnostics services. They have partnered with established diagnostic labs to provide consumers with easy access to at-home lab tests and teleconsultation with doctors for post-test analysis. This move strengthens PharmEasy’s position as a one-stop shop for all healthcare needs.
  • In January 2024, 1mg, another major player in the Indian healthtech space, secured $100 million in funding from investors led by IFC (International Finance Corporation). These funds will be used to expand their telemedicine services, particularly in tier-2 and tier-3 cities, aiming to bridge the gap in access to quality healthcare across India.
  • In December 2023, Portea, a prominent provider of home healthcare services, announced a strategic partnership with Max Healthcare, a leading hospital chain in India. This collaboration will allow Portea to leverage Max Healthcare’s expertise and extensive network to offer patients a more comprehensive and integrated care experience at home.
  • In November 2023, SRL Diagnostics, a renowned diagnostic chain, launched a new initiative called “SRL Care”. This program offers personalized health check-up packages and wellness consultations to individuals, focusing on preventive healthcare. This caters to the growing awareness of preventive measures in India.
  • In October 2023, Practo, a well-known platform for online doctor appointments, launched a mental health vertical. This service provides users with access to licensed therapists and counselors for online consultations. This addresses the rising demand for mental health services in India, which traditionally had limited access.

List of the prominent players in the India Healthtech Market:

  • Pharmeasy
  • 1mg
  • Netmeds
  • Practo
  • Zoylo
  • DocsApp
  • Portea Medical
  • Curefit
  • HealthifyMe
  • Signa Vital
  • Lybrate
  • Mfine
  • String Healthcare
  • Medanta
  • Fortis Healthcare
  • Apollo Hospitals
  • Manipal Hospitals
  • Aster DM Healthcare
  • Max Healthcare
  • HCG (Healthcare Global Enterprises Limited)
  • Others

These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The India Healthtech Market is segmented as follows:

By Technology

  • Digital Health Systems
  • Health Analytics
  • Health Information Technology
  • mHealth
  • Telehealthcare

By Component

  • Hardware
  • Software
  • Services

By End-User

  • Healthcare Providers
  • Healthcare Payers
  • Healthcare Consumers
  • Pharmaceutical Companies
  • Others

By Applications

  • Cardiology
  • Diabetes
  • Neurology
  • Sleep Apnea
  • Oncology
  • Others

By Delivery Modes

  • Cloud-Based
  • On-premises

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 India Healthtech Market, (2024 – 2033) (USD Million)
    • 2.2 India Healthtech Market: snapshot
  • Chapter 3. India Healthtech Market – Industry Analysis
    • 3.1 India Healthtech Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Government Initiatives and Policies
      • 3.2.2 Rising Healthcare Expenditure and Demand for Quality Healthcare
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Technology
      • 3.7.2 Market Attractiveness Analysis By Component
      • 3.7.3 Market Attractiveness Analysis By End-User
      • 3.7.4 Market Attractiveness Analysis By Applications
      • 3.7.5 Market Attractiveness Analysis By Delivery Modes
  • Chapter 4. India Healthtech Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 India Healthtech Market: company market share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. India Healthtech Market – Technology Analysis
    • 5.1 India Healthtech Market Overview: By Technology
      • 5.1.1 India Healthtech Market Share, By Technology, 2023 and 2033
    • 5.2 Digital Health Systems
      • 5.2.1 India Healthtech Market by Digital Health Systems, 2024 – 2033 (USD Million)
    • 5.3 Health Analytics
      • 5.3.1 India Healthtech Market by Health Analytics, 2024 – 2033 (USD Million)
    • 5.4 Health Information Technology
      • 5.4.1 India Healthtech Market by Health Information Technology, 2024 – 2033 (USD Million)
    • 5.5 mHealth
      • 5.5.1 India Healthtech Market by mHealth, 2024 – 2033 (USD Million)
    • 5.6 Telehealthcare
      • 5.6.1 India Healthtech Market by Telehealthcare, 2024 – 2033 (USD Million)
  • Chapter 6. India Healthtech Market – Component Analysis
    • 6.1 India Healthtech Market Overview: By Component
      • 6.1.1 India Healthtech Market Share, By Component, 2023 and 2033
    • 6.2 Hardware
      • 6.2.1 India Healthtech Market by Hardware, 2024 – 2033 (USD Million)
    • 6.3 Software
      • 6.3.1 India Healthtech Market by Software, 2024 – 2033 (USD Million)
    • 6.4 Services
      • 6.4.1 India Healthtech Market by Services, 2024 – 2033 (USD Million)
  • Chapter 7. India Healthtech Market – End-User Analysis
    • 7.1 India Healthtech Market Overview: By End-User
      • 7.1.1 India Healthtech Market Share, By End-User, 2023 and 2033
    • 7.2 Healthcare Providers
      • 7.2.1 India Healthtech Market by Healthcare Providers, 2024 – 2033 (USD Million)
    • 7.3 Healthcare Payers
      • 7.3.1 India Healthtech Market by Healthcare Payers, 2024 – 2033 (USD Million)
    • 7.4 Healthcare Consumers
      • 7.4.1 India Healthtech Market by Healthcare Consumers, 2024 – 2033 (USD Million)
    • 7.5 Pharmaceutical Companies
      • 7.5.1 India Healthtech Market by Pharmaceutical Companies, 2024 – 2033 (USD Million)
    • 7.6 Others
      • 7.6.1 India Healthtech Market by Others, 2024 – 2033 (USD Million)
  • Chapter 8. India Healthtech Market – Applications Analysis
    • 8.1 India Healthtech Market Overview: By Applications
      • 8.1.1 India Healthtech Market Share, By Applications, 2023 and 2033
    • 8.2 Cardiology
      • 8.2.1 India Healthtech Market by Cardiology, 2024 – 2033 (USD Million)
    • 8.3 Diabetes
      • 8.3.1 India Healthtech Market by Diabetes, 2024 – 2033 (USD Million)
    • 8.4 Neurology
      • 8.4.1 India Healthtech Market by Neurology, 2024 – 2033 (USD Million)
    • 8.5 Sleep Apnea
      • 8.5.1 India Healthtech Market by Sleep Apnea, 2024 – 2033 (USD Million)
    • 8.6 Oncology
      • 8.6.1 India Healthtech Market by Oncology, 2024 – 2033 (USD Million)
    • 8.7 Others
      • 8.7.1 India Healthtech Market by Others, 2024 – 2033 (USD Million)
  • Chapter 9. India Healthtech Market – Delivery Modes Analysis
    • 9.1 India Healthtech Market Overview: By Delivery Modes
      • 9.1.1 India Healthtech Market Share, By Delivery Modes, 2023 and 2033
    • 9.2 Cloud-Based
      • 9.2.1 India Healthtech Market by Cloud-Based, 2024 – 2033 (USD Million)
    • 9.3 On-premises
      • 9.3.1 India Healthtech Market by On-premises, 2024 – 2033 (USD Million)
  • Chapter 10. India Healthtech Market – Regional Analysis
    • 10.1 India Healthtech Market Regional Overview
    • 10.2 India Healthtech Market Share, by Region, 2023 & 2033 (USD Million)
  • Chapter 11. Company Profiles
    • 11.1 Pharmeasy
      • 11.1.1 Overview
      • 11.1.2 Financials
      • 11.1.3 Product Portfolio
      • 11.1.4 Business Strategy
      • 11.1.5 Recent Developments
    • 11.2 1mg
      • 11.2.1 Overview
      • 11.2.2 Financials
      • 11.2.3 Product Portfolio
      • 11.2.4 Business Strategy
      • 11.2.5 Recent Developments
    • 11.3 Netmeds
      • 11.3.1 Overview
      • 11.3.2 Financials
      • 11.3.3 Product Portfolio
      • 11.3.4 Business Strategy
      • 11.3.5 Recent Developments
    • 11.4 Practo
      • 11.4.1 Overview
      • 11.4.2 Financials
      • 11.4.3 Product Portfolio
      • 11.4.4 Business Strategy
      • 11.4.5 Recent Developments
    • 11.5 Zoylo
      • 11.5.1 Overview
      • 11.5.2 Financials
      • 11.5.3 Product Portfolio
      • 11.5.4 Business Strategy
      • 11.5.5 Recent Developments
    • 11.6 DocsApp
      • 11.6.1 Overview
      • 11.6.2 Financials
      • 11.6.3 Product Portfolio
      • 11.6.4 Business Strategy
      • 11.6.5 Recent Developments
    • 11.7 Portea Medical
      • 11.7.1 Overview
      • 11.7.2 Financials
      • 11.7.3 Product Portfolio
      • 11.7.4 Business Strategy
      • 11.7.5 Recent Developments
    • 11.8 Curefit
      • 11.8.1 Overview
      • 11.8.2 Financials
      • 11.8.3 Product Portfolio
      • 11.8.4 Business Strategy
      • 11.8.5 Recent Developments
    • 11.9 HealthifyMe
      • 11.9.1 Overview
      • 11.9.2 Financials
      • 11.9.3 Product Portfolio
      • 11.9.4 Business Strategy
      • 11.9.5 Recent Developments
    • 11.10 Signa Vital
      • 11.10.1 Overview
      • 11.10.2 Financials
      • 11.10.3 Product Portfolio
      • 11.10.4 Business Strategy
      • 11.10.5 Recent Developments
    • 11.11 Lybrate
      • 11.11.1 Overview
      • 11.11.2 Financials
      • 11.11.3 Product Portfolio
      • 11.11.4 Business Strategy
      • 11.11.5 Recent Developments
    • 11.12 Mfine
      • 11.12.1 Overview
      • 11.12.2 Financials
      • 11.12.3 Product Portfolio
      • 11.12.4 Business Strategy
      • 11.12.5 Recent Developments
    • 11.13 String Healthcare
      • 11.13.1 Overview
      • 11.13.2 Financials
      • 11.13.3 Product Portfolio
      • 11.13.4 Business Strategy
      • 11.13.5 Recent Developments
    • 11.14 Medanta
      • 11.14.1 Overview
      • 11.14.2 Financials
      • 11.14.3 Product Portfolio
      • 11.14.4 Business Strategy
      • 11.14.5 Recent Developments
    • 11.15 Fortis Healthcare
      • 11.15.1 Overview
      • 11.15.2 Financials
      • 11.15.3 Product Portfolio
      • 11.15.4 Business Strategy
      • 11.15.5 Recent Developments
    • 11.16 Apollo Hospitals
      • 11.16.1 Overview
      • 11.16.2 Financials
      • 11.16.3 Product Portfolio
      • 11.16.4 Business Strategy
      • 11.16.5 Recent Developments
    • 11.17 Manipal Hospitals
      • 11.17.1 Overview
      • 11.17.2 Financials
      • 11.17.3 Product Portfolio
      • 11.17.4 Business Strategy
      • 11.17.5 Recent Developments
    • 11.18 Aster DM Healthcare
      • 11.18.1 Overview
      • 11.18.2 Financials
      • 11.18.3 Product Portfolio
      • 11.18.4 Business Strategy
      • 11.18.5 Recent Developments
    • 11.19 Max Healthcare
      • 11.19.1 Overview
      • 11.19.2 Financials
      • 11.19.3 Product Portfolio
      • 11.19.4 Business Strategy
      • 11.19.5 Recent Developments
    • 11.20 HCG (Healthcare Enterprises Limited)
      • 11.20.1 Overview
      • 11.20.2 Financials
      • 11.20.3 Product Portfolio
      • 11.20.4 Business Strategy
      • 11.20.5 Recent Developments
    • 11.21 Others.
      • 11.21.1 Overview
      • 11.21.2 Financials
      • 11.21.3 Product Portfolio
      • 11.21.4 Business Strategy
      • 11.21.5 Recent Developments
List Of Figures

Figures No 1 to 36

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers

Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Pharmeasy
  • 1mg
  • Netmeds
  • Practo
  • Zoylo
  • DocsApp
  • Portea Medical
  • Curefit
  • HealthifyMe
  • Signa Vital
  • Lybrate
  • Mfine
  • String Healthcare
  • Medanta
  • Fortis Healthcare
  • Apollo Hospitals
  • Manipal Hospitals
  • Aster DM Healthcare
  • Max Healthcare
  • HCG (Healthcare Global Enterprises Limited)
  • Others


The Digital Divide and Infrastructure Challenges is major restraint in India Healthtech market.

The Government Initiatives and Policies is major driver in India Healthtech market.

The “Cardiology” had the largest share in the market for India Healthtech.

The “Digital Health Systems” category dominated the market in 2023.

The key players in the market are Pharmeasy, 1mg, Netmeds, Practo, Zoylo, DocsApp, Portea Medical, Curefit, HealthifyMe, Signa Vital, Lybrate, Mfine, String Healthcare, Medanta, Fortis Healthcare, Apollo Hospitals, Manipal Hospitals, Aster DM Healthcare, Max Healthcare, HCG (Healthcare Global Enterprises Limited), Others.

The market is projected to grow at a CAGR of 28.67% during the forecast period, 2024-2033.

The India Healthtech Market size was valued at USD 6,500 Million in 2024.












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