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Indian healthcare industry poised to hit Rs 110 trillion by 2027

The healthcare industry in India is estimated to reach INR 110 Tn by 2027 with a CAGR of 30.70%, with the digital healthcare segment having a 17.44% market share The pressing industry challenges, including the growing population and increasing prevalence of chronic diseases, are pressuring the existing healthcare infrastructure to raise demand for quality healthcare services from patients and providers.

India has seen a growing acceptance of telemedicine post the pandemic. The telemedicine market in India was almost 830 million U.S. dollars in 2022 and is expected to grow at a CAGR of 24% from 2023 to 2030 The drive to increase the availability of affordable internet and mobile connectivity has made it easier for patients to consult with doctors online. The use of AI and machine learning for medical data are helping to improve patient outcomes and increase access to care, while also reducing costs. This will be especially beneficial in rural and remote areas, where access to healthcare is often limited. In addition, telemedicine can also help reduce the burden on India’s already strained healthcare system by providing quicker and more efficient access to medical care.

The future of Indian healthcare
From telemedicine services becoming more widespread to an increased usage of artificial intelligence in patient diagnosis, the emerging trends illustrate how Indian healthcare will continue to evolve over the next few years. As India continues its journey towards better health outcomes, it is at the forefront of healthcare services through several innovative initiatives to improve access to affordable quality care with technology at its core. We can look forward to even greater progress in 2023 and beyond with growing medicine, pharmaceuticals, and healthcare investments. Genotech

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