Artificial Intelligence in Indian Healthcare Market 2023

India only had 64 doctors per 100,000 people available as of 2022, compared to a global average of roughly 150 per 100,000In remote locations, primary health clinics and subcentres may have drastically inadequate personnel numbers and insufficient necessary infrastructure. Because of this, high-quality diagnostic services are usually in short supply, especially in rural India, where more than 70% of the population lives. The COVID-19 pandemic has forced Indians to embrace digital change and reevaluate present healthcare norms.

In terms of revenue, the digital healthcare market in India was valued at INR 724.88 Bn in 2022. It is expected to reach INR 1,716.99 Bn by 2027, expanding at a Compound annual growth rate (CAGR) of ~16.78% during the 2023 - 2027 period.

COVID-19 Impact Analysis:

• The pandemic has highlighted the importance of technology in healthcare, and there has been an increased demand for AI healthtech solutions.
• The pandemic has accelerated the adoption of remote care solutions, and AI healthtech is playing an important role in enabling remote care. For example, AI-powered chatbots and virtual assistants can help patients manage their symptoms and provide personalized recommendations.
• AI is increasingly being used in drug development to accelerate the discovery and development of new treatments.