India AI in Healthcare Market 2024–2033

Reports Description

The India AI in Healthcare Market was estimated at USD 10 billion in 2021 and is anticipated to reach around USD 35 billion by 2030, growing at a CAGR of roughly 30% between 2022 and 2030. Our research report offers a 360-degree view of India AI in Healthcare market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for India AI in Healthcare market.

• There are just 64 doctors in India for every 100,000 inhabitants, compared to an average of 150 worldwide. Primary health centers and subcenters in rural, outlying areas frequently have appallingly low staffing levels and lack essential facilities. In India, where more than 70% of the population lives in rural areas, this frequently leads to a shortage of high-quality diagnostic services.
• In constrained healthcare capacity and delayed disease detection skills outside urban centers, leveraging predictive analytics by applying Artificial Intelligence (AI) for early detection can be an important tool for targeted public health interventions. India’s $372 billion healthcare business presents prospects for bridging these disparities and achieving AI maturity through AI-enabled solutions.
• The Indian government-affiliated think tank NITI Aayog is currently validating the use of AI as a screening tool in eye care by comparing its diagnostic accuracy to that of retina specialists. NITI Aayog has been testing the application of AI in primary care for the early detection of diabetes complications. Expanding the capacity for eye exams and early detection, as well as enabling access in remote locations across the nation, is possible by integrating AI capabilities with portable screening devices like 3Nethra.
• Oncology might use tools like this as well. The Comprehensive Archive of Imaging, India’s first de-identified cancer picture collection, was introduced by Tata Medical Center and the Indian Institute of Technology. AI-based tools can use high-quality de-identified photos to help machine-learning models find biomarkers and enhance the results of cancer research.

Report Scope

The study’s focus is on India AI in healthcare market analysis on a global scale, and market sizing includes the income generated by these solutions provided by different market players. In order to support the market projections and growth rates over the anticipated period of 2022-2030, the study additionally monitors important market factors, underlying growth influencers, and significant vendors active in the sector.

The study also examines how COVID-19 has affected the ecology generally. The scope of the study includes market sizing and forecast for segmentation by component and application.

Key Market Dynamics

• India is one of the nations in the world with the most potential for innovative, sustainable, and scalable healthcare technology to improve lives because of its significant healthcare distribution inequalities, glaring lack of infrastructure & trained healthcare clinicians, and low government spending on healthcare. Although there are 1 billion people in the country, many of whom have smartphones and internet access, it is still challenging to think of more than a few instances of digital technologies that have had a big influence on healthcare outcomes or have been broadly adopted.
• Designing and creating technology for India must consider regional limitations, including price. The Indian healthcare industry faces numerous regional and behavioural issues, but the cost is still a significant factor. New technology needs to be created to address its limitations and price for the nation to flourish and make an impact at scale.
• There is always a continuous gap to fill, whether it be a spending gap, a geographic gap, an infrastructure gap, an urban-rural divide, or a difference in skills. The Indian healthcare system offers opportunities and incentives unmatched for piloting and operationalizing innovations because of its diversity and potential scale. Each area that the Indian healthcare system fails in offers a special opportunity for artificial intelligence or even just basic digital technology.
• Over the past ten years, the country has seen the fast adoption of the internet and smartphones. As a result, it currently satisfies the requirements for the effective delivery of digital solutions. Both at the national policy level and locally, where individual states compete to adopt new technology that can help solve long-standing problems, government excitement for innovation and locally manufactured technology is at an all-time high. Public-private collaborations are often favored. This is a positive development for innovators, even though a good quantity of doubt about the actual ground circumstances should temper it.
• Millions of people in India could benefit from a variety of healthcare challenges that are yet “virgin ground” for technology. A few of the numerous topics worth considering through the perspective of the technology, connection, and artificial intelligence available today include antibiotic resistance, health insurance, infectious diseases like malaria and tuberculosis, and new ones like diabetes.
• In India, consumer-facing “health tech” has been discussed and accepted during the past five years by investors, the government, and progressively by the general people. Urban, educated consumers are increasingly turning to technology, mostly in the form of fitness applications, telemedicine, online health service aggregators, and home delivery of prescription medications. Online consultations or apps with chat-based basic healthcare services are two examples of how existing techniques are being used to reinvent the delivery of healthcare.
• Recently, technology that performs or assists with fundamental healthcare or medical duties like analyzing radiology, pathology, or ophthalmology pictures has started to emerge for physicians. India has a critical need for technology to close resource gaps, and AI has the ability to provide cost-effective solutions on a large scale. Thus, India may soon be in a position to reap the rewards of these technologies on health outcomes.

The Clinical Trials Segment to Dominate India AI in Healthcare Market

• Because of the increasing number of patent expirations and the increasing demand for quicker and more accurate clinical trials to meet the needs of new drug discoveries and drug development, the clinical trials application segment dominated the AI in healthcare market in 2021.
• Although AI-based technologies in clinical trials were still in their infancy before the pandemic, there has been an explosion in their use due to the desire for speedier clinical trials that help trial design, study adherence, lowering dropout rates, and patient recruiting.
• The India AI in healthcare market expansion is anticipated to be boosted by reducing the time needed to conduct clinical trials and improving their accuracy and dependability. Healthcare start-ups, government regulatory agencies, and companies in the life sciences are starting to support and implement AI-powered processes.
• The virtual assistant market, on the other hand, is predicted to grow at the fastest rate over the forecast period.
• The lack of qualified workers, the rising use of smartphones, and increased internet access contribute to the rapid expansion and penetration of AI-based technologies in the virtual assistant market.
• In addition to the virtual assistant market, the robot-assisted surgery market is anticipated to experience profitable growth and hold significant promise in the years to come. This notable growth rate is due to the rise in collaborations between suppliers of AI technology and companies that make surgical robots.

Competitive Landscape

The main strategies players are concentrating on to get a competitive edge in the market include increasing investments in R&D, innovative product developments and launches, expanding technical collaborations, and service differentiation.

Our market analysis includes a section specifically devoted to key players operating in AI in healthcare market in India. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.

• 2022: To advance India’s digital economy, Google revealed several cutting-edge AI-based technologies and partnerships with local firms. Healthcare, language, and agriculture were the focus areas.
• 2022: Google announced to collaborate with Apollo Hospitals to establish a clinical intelligence platform.

List of the prominent players in the India AI in healthcare market:

• Aindra Systems Private Limited
• Artivatic Data Labs Private Limited
• Advenio Tecnosys Private Limited
• Niramai Health Analytix Private Limited
• Predible Health Private Limited
• Sigtuple Technologies Private Limited
• Ai Technologies Private Limited
• Tricog Health Services Private Limited
• Microsoft Corporation (India) Private Limited
• IBM India Private Limited
• Others

The India AI in healthcare market is segmented as follows:

By Component

• Hardware
• Software Solutions
• Services

By Application

• Robot-Assisted Surgery
• Administrative Workflow Assistants
• Virtual Assistants
• Connected Machines
• Clinical Trials
• Diagnosis
• Fraud Detection
• Dosage Error Reduction
• Cybersecurity

On the basis of Geography

• India