In India, there are approximately 562 medical colleges under the National Medical Commission (NMC). Admission to medical institutions is based on the National Eligibility Entrance Test (NEET) ranks. There are ~50.89% government medical colleges and ~49.11% private medical colleges in the country. The private medical colleges are equipped with advanced laboratories, along with highly-educated teaching faculty.

Market insights:
Private medical institutions have more number of seats than government medical colleges but admission charges and cost of the course are significantly high. At present there are 276 private medical colleges in India.

According to an NMC data, around 37 applications were received to establish private medical colleges for the academic year 2021 – 2022. Around 15 private medical colleges were set up between 2020 and 2021.

Increase in the number of seats in private medical colleges and growing investment opportunities for the same are some of the important factors driving the growth of the market. However, inadequate healthcare infrastructure, inappropriate doctor to patient ratio and high admission and course fees are the key challenges to the growth of the market.

Moreover, Medical facilities are not equitably distributed throughout the country. Patients are sometimes required to go abroad for treatment purposes as they are unsure about the success rate of the therapy in India. Several seats in private colleges are reserved for management quota, thus, blocking the seats of some deserving candidates.

Although the number of medical seats has increased, it is still not sufficient because of the vast population of the country.

Impact of COVID-19:
Several private medical colleges were converted into COVID-19 hospitals in 2020. Most of them were used as quarantine centers for infected patients to remain isolated. The All India Council for Technical Education (AICTE) issued a circular instructing the listed institutes and colleges not to insist on payment of fees, including admission charges.

However, in private colleges and deemed universities, medical students, many of whom are at the forefront of India’s medical response to the COVID-19 pandemic, have received no such protection.

Government initiatives:
The Ministry of Health and Family Welfare (MOHFW) announced a centrally-sponsored scheme in 2021 to upgrade existing state/central government medical colleges to raise the number of MBBS seats. 90% of the investment is made by central government and the rest is borne by the states.

Under public-private partnerships, the central government will fund the viability gap to the tune of 60% -80% of the cost of establishing medical colleges in existing district hospitals.

Related:Healthcare Education Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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Market insights:
Hospitals are the major stakeholders in India’s healthcare ecosystem. About 70% of the rural population and 80% of the urban residents rely on private hospitals. High disposable income, rise in population, and changes in disease profiles are driving the expansion of the market. Furthermore, the Ayushman Bharat initiative has strengthened the healthcare system, from primary to tertiary care.

The private hospital sector was valued at INR 9,995.06 Bn in FY 2021. It is expected to reach INR 25,429.49 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~20.53% during the FY 2021 ─ FY 2027 period

Segment insights:
It has three segments – self-pay, government payer, and corporate insurer. Initially at the beginning of 2020, the self-pay segment dominated the market, followed by government payer. However, owing to the expansion of insurance coverage by both government and corporate insurers, the corporate insurer segment is anticipated to experience noticeable growth.

Increase in purchasing power, growing demand for quality healthcare, technological advancements, and development of private hospital networks have fueled the growth of corporate medical insurance. It ensures patients’ entitlement to accidental hospitalization, COVID-19 insurance, daily hospital benefits, critical illness cover, and maternity coverage.

Impact of COVID-19:
The second wave of COVID-19 affected the private hospital sector because patient footfall, both, domestic and international, declined. High infection rates and lockdowns compelled hospitals to pause non-emergency, and outdoor patient department (OPD) and indoor patient department (IPD) services. Medical tourism also declined due to travel restrictions.

Despite the initial dip in footfall, signs of recovery in patients and relaxed lockdown norms by the end of July 2021 marked an increase in hospital occupancy rate. Although the initial setback caused a nationwide crisis in India’s primary healthcare, key changes in the sector such as flexibility in operations, improved health insurance, and cost-effective medical tourism will strengthen the private hospital sector.

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Hospital Outsourcing market : Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030

Remote Patient Monitoring (RPM) Market: By Type (Heart Monitors, Breath Monitors, Hematology Monitors, Multi-parameter Monitors, and Other); By Application (Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Management and Fitness Monitoring and Other); By End User (Home Care Settings, Hospital/Clinics and Other); and Region- Global Analysis by Market Size, Share & Trends for 2014- 2020 and Forecasts to 2030

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The post Private Hospital Sector in India 2021 first appeared on CRI Report.

Market insights:
Consumers have become inclined toward organic personal care products because they are made of plant-based ingredients, which are not toxic, cruelty-free, non-GMO, and non-comedogenic. This is because of the growing awareness of the harmful effects of parabens, sulphates, and synthetic chemicals such as propylparaben, formaldehyde, phthalates, and butylparaben used in traditional products.

The market was valued at INR 43.51 Bn in FY 2020. It is estimated to reach INR 160.61 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~22.32% during the FY 2022 – FY 2027 period.

Segment insights:
The market is categorized into five segments – skincare, haircare, oral care, colour cosmetics, and other organic personal care products. As of FY 2021, the organic skincare segment dominated the organic personal care market. The hair care and oral care segment have also shown notable growth. The skincare segment is anticipated to dominate the market for the coming because of its popularity among consumers of both tier-I and tier-II cities.

The sales volume of organic colour cosmetics is anticipated to grow by 60% in the coming years. This significant rise in sale can be attributed to Indian skin types such as combination-oily, oily-sensitive skin, which are highly sensitive to artificial non-organic cosmetic products due to humid climate changes

Impact of COVID-19:
The COVID-19 pandemic has both, benefited and affected the market. Since all retail outlets, spas, beauty salons, and shopping malls were closed for a prolonged duration during the second wave, key players witnessed a huge dip in their sales volume. The industry experienced disruption, particularly with production, supply chain, and e-commerce delivery.

However, the demand for organic products, as a safe alternative to traditional personal care products full of harsh chemicals, has surged. Organic sheet masks have been ruling the market since May 2021, owing to their effective nature and short-term application process.

The demand for essential oils, skincare, and oral hygiene products has also picked up. The demand/sale of organic hand sanitizers has grown by 14% between 2020 and 2021 because of improved awareness of natural ingredients used in these products. These are also the safe alternative to harsh alcohol-based hand sanitizers.

Competitive insights:
Owing to customers’ preference toward personal care products with natural ingredients, major players such as Dabur India Limited and Forrest Essentials Private Limited have generated substantially high net revenues. Start-ups such as Plum, McAffeine, Kama Ayurveda, and SkinKraft have also shown noteworthy performances.

Organic Personal Care Products Market: Market Segments: By Product (Skin Care, Hair Care, Oral Care, Cosmetics and Others); By Distribution Channel (Hypermarket/Supermarkets, Specialist Retail Stores, Online Retail Stores and Others); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

The post Organic Personal Care Market in India 2021 first appeared on CRI Report.

Ordering groceries online has become prevalent in the past few years, owing to change in lifestyle, rapid urbanization, and increased internet penetration in rural parts of India.

The online grocery market grew significantly in 2020 and 2021, when the COVID-19-induced lockdowns and social distancing norms compelled most Indian households to opt for online grocery shopping. Some of the key market players are Spencer’s Retail Limited, Grofers India Private Limited, Supermarket Grocery Supplies Private Limited (BigBasket), and Amazon India Limited.

Market insights:
The online grocery market is expected to reach INR 1310.93 Bn by 2026, expanding at a CAGR of ~28.99% during the forecast period (2021 – 2026). In 2020, online grocery sales registered a growth rate of about 60%. One of the key reasons behind this growth is the COVID-19 pandemic.

It compelled consumers, especially those in urban areas, to use online platforms for daily grocery shopping in order to follow lockdown-related restrictions and maintain social-distancing.

Initiatives such as ‘no contact delivery’ and the ability to make payments online made it convenient for consumers to buy groceries from online platforms during the pandemic. The online grocery market is dynamic and both, domestic and foreign players compete to expand their market share and presence.

Segment insights:
The market is segmented based on the payment methods and type of products delivered through the medium and regions. The online payment segment has grown immensely during the past two years and is expected to grow over the forecast period (2021 – 2026).

This is due to the preference for online payments, high smartphone usage, and deep internet penetration. On the basis of regional segmentation, in 2020, south India held the largest share (34.6%) in terms of revenue and is expected to register the highest CAGR during the forecast period.

COVID-19 impact analysis:
In 2020, the market witnessed remarkable changes owing to COVID-19, resulting in sectorial consolidation and significant sales growth. The social distancing norms made consumers turn their focus toward online grocery shopping, considered convenient and safe amid the pandemic.

Also, several exporters and processors plan to increase their presence in the online business during the forecast period as this marketing channel has become more streamlined than offline retail. Multiple surveys were conducted between last year and this year. It was observed that people preferred online shopping because of easy access to products, flexibility, and timeliness. These are expected to be the driving factors even after the pandemic.

Online Grocery Market Size & Share to Record New Values for the Forecast Period 2019-2030

The post Online Grocery Market in India 2021 first appeared on CRI Report.

The online food delivery system allows customers to order and receive desired food products at their doorstep. Change in lifestyle and eating habits, stringent work schedule, and increase in the number of working women, and rise in disposable income drive the online food delivery market. Some of the key players are Zomato, Swiggy, Domino’s Pizza, Fasoos, and Box8.

Market insights:
The market is expected to reach INR 1,515.17 Bn by 2026 expanding at a CAGR of 30.11% during the 2021 – 2026 period. Rapid digitalization and acceptance of online food delivery services among consumers across tier I and tier II cities propel market growth.

However, low-cost food and retail products offered by local unorganized players in tier II and tier II cities, and villages is expected to restrict the development of the organized players. There has been a consistent rise in investments received by established industry players such as Zomato and Swiggy in the online food aggregators market in India.

COVID-19 impact analysis:
The nationwide lockdown induced by the COVID-19 pandemic initially caused some disruptions in the growth of the online food delivery market. However, it bounced back, owing to people’s inclination toward takeaways over dine-outs in order to comply with social distancing norms.

Although the number of online orders went up this year, sales declined in the second quarter due to the second wave. In April, overall online food delivery sales dropped by almost 40% to (provide April figure) from (provide figure) in March.

This was because of apprehension toward food from outside. However, the pandemic has also resulted in the onboarding of new customers. Due to social distancing norms, there has been an aggressive shift toward delivery-oriented infrastructure as customers preferred ordering food at home over dining out.

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Online Food Delivery Market in India 2020

The post Online Food Delivery System Market in India 2021 first appeared on CRI Report.

Medical technology involves the application of science to develop cure-based solutions. The medical technology market comprises players supplying health devices and instruments, diagnostic equipment and reagents, bionics, implants, disposables, and consumables to the healthcare providers.

India is a profitable destination to major global players, owing to increase in income levels, private sector participation in healthcare, an aging population, and growth of medical tourism. It is at a nascent stage and fragmented, mostly depending on imports, with limited capabilities for indigenous manufacturing.

The rapidly evolving technology landscape, conducive financial mechanism, and governmental thrust through the Make in India initiatives are projected to expedite the business in the coming years. It is estimated to reach INR 2,177.91 Bn by 2026, expanding at a compound annual growth rate (CAGR) of ~23.87% during the 2021 – 2026 period.

Major players in the market include Opto Circuits Limited, Philips India Limited, Siemens Limited, TTK Healthcare Limited, and Appasamy Associates.

Impact of COVID-19
In the wake of the pandemic, the market witnessed a supply-demand gap. While the demand for personal protective equipment rose steeply, the supply side was massively constrained due to lockdown measures, undertaken in 2020. The revenue fell sharply in the first quarter of FY 2021 on account of reduced sales volume of non-COVID-19 items.

Firms adopted various strategies to boost production capacities, collect payment from creditors, and address the changes in demand to maintain business.

Market segment insights
The market is segmented into instruments and appliances, diagnostic imaging, consumables and implants, and patient aids and other technologies. Instruments and appliances segment dominated the market in 2020, accounting for 33.72% of the total revenue in 2020. It is estimated that patient aids and other technologies will be the fastest-growing segment during the forecast period.

Key growth drivers
• An increase in the demand for new medical applications has led to the growth of the medical technology market. For instance, improved surgical techniques and new implant materials for joint replacement (e.g., hybrid replacement method used in hip replacement surgery) are driving the growth of the orthopaedic segment
• In India, non-communicable diseases (NCDs) are a major health problem. For instance, cancer, obesity, and diabetes are on the rise because of sedentary lifestyle and high stress levels. By 2025, NCDs would account for 75% of the disease burden. The significant increase in non-communicable diseases is driving demand for medical technology market.

Key deterrents to the growth of the market
Shortage of healthcare professionals and poor infrastructure are the major constraints. According to the World Bank, as of 2021, India has only 0.66 physicians per 1,000 patients. India’s bed density stands at 1.1 per 1,000 people, considerably lower than the World Health Organization (WHO) standards of 3.5 beds per 1,000 person.

Related reports: Medical Technology Market in India 2021

The post Medical Technology Market in India 2021 first appeared on CRI Report.

Healthcare is one of the biggest industry in India, in terms of revenue and employment generation. Kerala has the best healthcare facilities, followed by Andhra Pradesh and Maharashtra.

Healthcare Market in India

Market insights:
The healthcare market was valued at INR 17.62 Trn in 2020. It is expected to expand at a compound annual growth rate (CAGR) of ~29.79% during the 2021 – 2026 period to reach INR 81.30 Trn by 2026. The spurt in demand for home healthcare devices, digital healthcare solutions, and pharmaceutical products fuelled its development.

Rise in the prevalence of chronic diseases, growing investments from public and private investors, and the emergence of advanced technologies such as telehealth and telemedicine solutions are some of the factors that drive the market.

Relaxation of foreign direct investment (FDI) and increased government expenditure propelled the business during the 2016 – 2020 period. Inadequate healthcare infrastructure and low penetration of health insurance impede its growth.

Segment insights:
The market is segmented into outpatient care centers, hospitals, pharmaceuticals, medical equipment and supplies, diagnostic services, digital healthcare, research and development, medical insurance, and medical tourism. As of 2020, the hospitals segment dominated the market, accounting for about 32.00% of the total revenue.

During the 2021 – 2026 period, digital healthcare is anticipated to become the fastest-growing segment, owing to the cost-benefit obtained from using digital healthcare solutions. Other segments that are expected to witness high growth rate during the forecast period are hospitals, pharmaceuticals, and medical equipment and supplies.

COVID-19 impact analysis:
The outbreak of COVID-19, followed by the nationwide lockdown, severely impacted the healthcare business. The research and development, and the insurance segments are expected to experience a relatively short-term benefit during this crisis period.

The medical R&D segment and the insurance segment are some of the least prioritized segments of the Indian healthcare industry and hence, the impact of COVID-19 on these segments have started plunging with the diminishing effect of the pandemic.

Related reports:  Healthcare Apps Market in India 2021

The post Healthcare Market in India 2021 first appeared on CRI Report.

Market insights
The healthcare apps market is dominated by small and medium-sized start-ups that are trying to expand their reach further. Stakeholders in the Indian healthcare ecosystem are focusing on leveraging healthcare apps to make up for the shortcomings of traditional infrastructure. During the pandemic, the use of healthcare apps for online consultations, lab test bookings, and monitoring and tracking of patients’ vitals went up.

An increasing focus on patient-centric care, emergence of advanced technologies, and changing business models have been crucial in driving the healthcare apps market in India. In terms of revenue, the market in India was valued at INR 43.41 Bn in 2020.

It is estimated to reach INR 337.89 Bn by 2026, expanding at a CAGR of ~39.37% during the 2021 – 2026 period. Wellness management and appointment scheduling apps have gained immense popularity. The demand for chronic disease management apps is expected to grow rapidly in the next few years.

Market influencers
Digital transformation, coupled with substantial support from the government, has aided the growth of the healthcare apps market in India. The digital footprint of the country has been strengthened by a swift growth in the number of mobile subscribers and Internet users in the country. The number of smartphone adopted was 810 million in 2020 and is expected to surpass 1.2 billion by 2026.

The market has faced significant challenges due to lack of awareness, security issues, and unsatisfactory app performance. Moreover, for most consumers, fitness and wellness management are the areas of primary concern.

They are unaware about the types of healthcare apps that are available for various health issues. Also, stakeholders are uncertain about the performance and efficiency of apps because of the unavailability of clinical performance data. Although digitization has disrupted the Indian healthcare landscape, a significant part of the population is still unaware about the benefits of healthcare apps.

Impact of COVID-19
The onset of COVID-19 triggered a structural change in the Indian healthcare system by encouraging people to use healthcare technologies. Numerous healthcare apps have been introduced by the central and state governments to combat COVID-19.

These apps are being used for digital contact tracing of confirmed and potential patients, ensuring compliance with quarantine guidelines, spreading awareness, providing updates about COVID-19 statistics, and issuing advisories.

Since the outbreak of the pandemic, numerous healthcare apps have been launched by the central and state government authorities, which have been developed and designed by various IT companies. The issuing of Telemedicine Practice Guidelines by the Indian government in March 2020 boosted the adoption of healthcare apps.

The major concerns regarding the existence of several apps are duplication of efforts, low penetration, and lack of data privacy.

Competitive insights
The highly competitive healthcare apps market in India is fragmented and has many small and medium-sized players. Several non-healthcare companies, including IT and software development companies, technology companies, and app development agencies have entered the industry.

However, the market is still in the nascent stages – players are still experimenting with different business models to accomplish monetization. Among the various models, licensing, third-party app development, in-app advertising, and pay-per-download have achieved significant success.

Healthcare Apps Market in India 2020

The post Healthcare Apps Market in India 2021 first appeared on CRI Report.

The impact of COVID-19 pandemic has changed consumer behavior and has encouraged people to take precautionary measures on personal cleanliness. The Indian government has issued several guidelines to educate people about hand hygiene.

The growing awareness regarding hand hygiene has produced numerous growth opportunities for the market players and hand sanitizers have become an essential commodity in every household.

The hand sanitizer market was valued at INR 8.89 Bn in 2020. It is expected to reach INR 17.97 Bn by 2026, expanding at a compound annual growth rate (CAGR) of ~12.94% during the 2021 – 2026 period.

Impact of COVID-19 and the way forward:
The demand for hand sanitizers increased significantly in February 2020, following the outbreak of COVID-19. As a result, the revenue of sanitizer companies, pharmaceutical stores, and supermarkets surged. This led to the emergence of new business opportunities. Firms from different sectors forayed into the hand sanitizer space in India. However, the demand fell as things started to normalize.

Competitive landscape:
There were a few established players such as Reckitt Benckiser, HUL, Himalaya Drug Company, and Godrej Consumer Products Limited (GCPL) at the beginning of 2020. However, several small companies entered the business, in view of the pandemic, to take advantage of the demand. They grabbed more than 65% of the market share as of May 2021.

New entrants, mostly included distilleries had easy access to the extra neutral alcohol (ENA) which are required in manufacturing sanitizers. The government had granted the new market players the production license. In the coming years, high demand is expected from institutional buyers; the large, established players are likely to secure market share.

Related: Hand Sanitizer Market in India 2020

The post Hand Sanitizer Market in India 2021 first appeared on CRI Report.

The frozen food market, which comprises chilled fruits and vegetables, snacks, meat, poultry and seafood, and ready-to-cook meals, has grown significantly in recent years.

Rapid rise in the number of modern retail and online grocery stores, and proper refrigeration facilities are the primary reasons for this development. Improved shelf-life and packaging of frozen foods has further propelled growth. Some of the key players that operate in this market are Apex Frozen Foods Ltd., Godrej Agrovet Ltd., ITC Ltd., and Venky’s (India) Ltd.

Market insights:
The market is expected to reach INR 278.68 Bn by 2026, expanding at a CAGR of ~17.88% during the 2021 – 2026 period. Increase in the number of millennial and gen-Z consumers opting for convenience food, improved awareness, and acceptance of frozen food are some of the major factors that propelled market growth.

In the wake of the pandemic, the e-commerce business has expanded, resulting in high demand for frozen food items. Development of the cold chain infrastructure and constant support from the government are further driving the market. However, inadequate cold storage and poor supply infrastructure hinder its expansion.

Segment insights:

Based on sales channel, the market is segmented into retailers, food service providers, and export. In terms of revenue, the export segment dominated the market, accounting for 44.62% of the overall revenue in 2020. The food service business was severely impacted due to COVID-19 in 2020, and the second and third quarter of 2021.

Retailers is the fastest-growing segment because the demand for packaged French fries, burgers, and chicken snacks has picked up amid the pandemic.

COVID-19 impact analysis:
The COVID-19 pandemic has positively impacted the frozen food market. However, growth was interrupted during the second wave (April 2021 – May 2021). Nonetheless, steady recovery of retailers and food service providers is expected to drive the market during the forecast period.

Consumers’ perception toward the processed frozen food products changed positively as these items ensured better sanitization than the foods available from street-side vendors. During the pandemic, various food and grocery delivery start-ups such as Licious, iD Fresh Foods, and Grofers reported an increase in the sale of ready-to-eat and frozen food items.

Related:  Frozen Food Manufacturing Market: Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030

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