Indian Telemedicine market to reach USD 5.5 billion by 2025: EY-IPA study
Virtual care consists of tele-consult, telepathology, teleradiology and e-pharmacy and is experiencing an encouraging stimulus in India due to the pandemic, it added.;
New Delhi: The Indian healthcare industry needs to shift from traditional in-person doctor-patient interaction to digitally-enabled remote consultations, according to an EY-IPA study which said the domestic telemedicine market will reach USD 5.5 billion by 2025.
"15-20 percent of the healthcare ecosystem is expected to shift to virtual care, across triaging, consults, remote monitoring, home health, etc, the study, ''healthcare goes mobile: Evolution of teleconsultation and e-pharmacy in new Normal'', said.
However, the rapid growth driven by increased digitisation will raise challenges related to patient''s data privacy and prescription substitution. Thus, there is an immediate need for a strong regulatory framework in the interest of patients and consumers, it added.
"The telemedicine market in India is expected to grow at a compound annual growth rate (CAGR) of 31 percent for the period 2020–25 and reach USD 5.5 billion", the study said.
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