, Practo, MeddiBuddy, MFine, and Lybrate continue to offer teleconsultation services, the landscape is changing.
According to a 2023 report by the Technology, Information Forecasting and Assessment Council (TIFAC), the telemedicine market in India is projected to experience significant growth, with a compound annual growth rate (CAGR) of 31 percent between 2020 and 2025, ultimately reaching a market size of USD 5.5 billion.
This expansion is driven by the increasing demand for teleconsultations, telepathology, teleradiology, and e-pharmacy services.
While the telemedicine market is poised for growth, independent teleconsultation companies are facing stabilization in their growth rates.
The rapid rise in telemedicine during the pandemic has given way to a more competitive environment, where large healthcare providers have gained an upper hand.
Dr. Vikram Venkateswaran from Deloitte India notes that telemedicine consultations now account for roughly 10 to 25 percent of total consultations at hospitals, with an average of around 10 percent. This plateau suggests that growth for independent teleconsultation services is slowing down (1✔ ✔Trusted Source
Advances in telemedicine in the 21st century
Go to source).
The Need for an Integrated Telemedicine Approach
Industry critics argue that telemedicine needs to evolve to ensure sustainability and growth. Presently, many teleconsultation platforms primarily offer remote conversations between doctors and patients, lacking integrated care mechanisms that provide substantial value to patients.
Siddharth Srinivasan, CEO of Lupin Digital Health, believes that telemedicine should expand beyond mere doctor-patient calls. Patients should be able to measure their vitals at home, with real-time data accessible to their healthcare providers.
This holistic approach, where technology supports remote monitoring and diagnosis, is considered the way forward.
Dr. K Ganapathy, Director of Apollo Telemedicine Networking Foundation, emphasizes that despite fluctuations in footfalls, telehealth deployment has considerably increased compared to the pre-pandemic era. Hospitals, in particular, are actively integrating digital platforms to engage with patients, creating unique patient profiles, and offering personalized services.
The consensus among experts is that telemedicine must play a more significant role in healthcare beyond consultations.
Dr. Venkateswaran points out that hospitals provide a care continuum, covering preoperative, operative, and post-operative care. While telemedicine platforms offer online consultations, they currently fall short of being an integral part of patient care.
To stay relevant and competitive, teleconsultation platforms are actively diversifying their services, moving beyond consultation-driven revenue models. They are exploring new solutions and interventions throughout the healthcare value chain, from patient engagement to digital outreach.
In conclusion, the landscape of telemedicine in India is rapidly evolving, with both opportunities and challenges. The post-pandemic era has forced the industry to reassess its role and capabilities in the healthcare ecosystem.
As telemedicine continues to grow, integrating with traditional healthcare services and providing value beyond consultations will be crucial for its long-term success.
Reference :
- Advances in telemedicine in the 21st century – span class=”breaktext”>(https:pubmed.ncbi.nlm.nih.gov/15366773/)
Source: Medindia
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