India’s health- tech sector pegged at$ 40 billion by 2040 Report
India’s health- tech sector is poised to touch$ 9- 12 billion Gross Merchandise Value( GMV) by 2025 and$ 40 billion GMV by 2040, stated a report by consulting establishment Redseer.
The Gross wares value( GMV) refers to the total volume of goods vended through online mediums.
The report claimed that India’se-health space grew by 51 on a time- on- time( YoY) base in 2021 driven by reduced client accession, same- day delivery andcross-selling. Also, a 47 increase in Net protagonist Score( NPS) in 2021 suggested that the guests are now more likely to recommend the eHealth platforms to their musketeers or cousins.
NPS is client fidelity and satisfaction dimension where companies ask guests to rate their services on a scale of 1- 10.
Kushal Bhatnagar, Engagement Manager, Redseer, said, “ We notice a huge headroom ahead for growth indicated by the global marks, wherein Health- tech players are formerly ahead of the traditional bones. India’s Health- tech sector is on an instigative trip of dislocation and continues to offer immense value proposition to consumers and businesses likewise. ”
At present, Pharmeasy, Netmeds( Reliance Group), Tata group- backed 1 mg, Medlife, mfine, and MeddiBuddy, are the prominent players in the health- tech sector.
Last Time, a report released by The Internet and Mobile Association of India( IAMAI) and operation consulting establishment Praxis claimed that the Indian health- tech sector will witness a compounded periodic growth rate( CAGR) of 39. Some of the growth motorists cited in the same report were guests readily espousing health- tech, healthcare workers using further technology, and government promoting telemedicine and creating a digital health care backbone by the National Digital Health Mission.