Indian EduFin Industry: the next wave of value creation in edtech: Ken Research

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Over a period of time, the way we perceive education has changed and COVID has a big hand behind this transformation. Online learning or e-learning has become the new normal post-pandemic thanks to the plethora of ed-tech startups in India. However, the lack of access to quality education due to weak finances still remains the same.

Traditional loan lending was an option but not the go-to choice of everyone due to interest rates. But in the last 10-24 months, the collaboration of ed-tech startups with Fintech companies are trying to fix this void in India. How? Well, in this latest white paper, we are going to talk about how the rise of the EduFin industry in India is the next wave of value creation in edtech.

1.  With the beginning of the 21^stcentury, the Indian education sector is in a third wave of revolution

2.  Presently, India is emerging as a leading EdTech market by Revenue & an ever growing market for Up-Skilling & Re-Skilling Courses

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3.  Edtech platforms are collaborating with FinTech companies to enable quality education accessible to more and more students

4. These education finance startups are making learning affordable for millions of students in India

5. FinTech companies generally offer zero cost loans to individuals pursuing vocational/educational courses from a recognized institute

6.  Currently, the Indian EduFin Market is at an Early Growth Stage, with promising opportunities in the future

7.  Increasing Investments from Venture Capital Firms and Government initiatives will enable the Indian EduFin industry to experience double-digit growth in the next five years

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Indian EduFin Industry

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The Number of Used Car Sales Is All Set to Cross More Than 450,000 Units By The Year 2026: Ken Research

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The Philippines Used Car Market Is Expected to Grow at A CAGR Of 7.6% In the Next Five Years in Terms of Used Car Units Sold by the Year 2026, as per findings released by Ken Research.

Improved infrastructure, Train tax, and young population are listed as the key “pull” factors for the growth in the Philippines Used Car Market. This market is expected to witness a growth of 7.6% in next 5 years.

1. “Mega Manila Subway”: Government to Invest More Than 4 Bn Dollars in The First Subway Project.

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The Government of Philippines has been working towards improving the infrastructure of the country. President Duterte’s ‘Build! Build! Build!’ program is aimed at ushering the ‘Golden Age of Infrastructure’ in the Philippines. These initiatives will improve the road and the traffic conditions of the country making owning a car a more convenient option for the people of Philippines.

2. Philippines Number of Registered Vehicles was reported 5,000,000 Unit in Dec 2021: An Increase from the previous number of 4,000,000 Unit in Dec 2020.

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As of 2021, around 64.7% of the Filipino population is in the age bracket of 15 and 64 years old. This states that a huge chunk of the population consists of Millennials, who don’t have the financial stability to afford a new vehicle; hence they resort to the pre-owned units in order to meet their requirement of a dream car. In 2018, 25% of Filipino households in the Philippines owned a motorcycle or a tricycle. Furthermore, approximately 6% of households owned a car, jeep or van, while only 4% owned a motorized Banca or boat.

3. The Tax Reform for Acceleration and Inclusion (TRAIN) Law in Philippines, Proving to Be a Major Driving for Used Car Market to Reach around 460 thousand Units Sales by 2026.

Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law came into existence from 1st January, 2018. The reform in taxation got a merit for the used car industry of Philippines because the new vehicle units have become relatively expensive. Since all the new car buyers now would have to pay steep taxes, the buying behavior is switching from new cars to pre-owned cars which are available at much cheaper price and the buyer is not supposed to pay less tax or at times no tax on the purchase. This step was taken by the current government in power to reduce the vehicle traffic on roads and encourage people to use second-hand or pre-owned cars and reduce demand for imported cars.

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Philippines Used Car Market

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3 factors that are helping Aquaculture Feed Market to rebound in India, post COVID-19: Ken Research

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COVID-19 had affected many industries and Aquaculture Feed Market was no exception. But as things are returning to normal, the Aquaculture feed industry is also getting back on track.

From our exclusive report, we have brought you the two prime factors that have been helping the aquaculture feed sector to flourish again in the Indian market.

 1.  India experienced the ripple effect of COVID-19 in FY’21; tourism, automotive industry, and the aqua feed industry were some of the worst affected industries

2.  But as the pandemic is fading away, the Indian Aquaculture Feed Market have started gaining momentum and now poised to reach around INR 19000 Crores by FY’27

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 3.  Increase in Fish Seed Production, Surging Exports, and Rising Demand for Shrimps are the major factors that are helping the aquaculture feed industry to rebound after the pandemic

4.  Various government-sponsored schemes and Custom duty Reduction are acting as add-ons for the growth of the aquaculture as well as aqua feed industry

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India Aquaculture Feed Market

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Egypt Fitness Market Size Is All Set To Cross More Than USD 900 Mn by the Year 2025: Ken Research

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Egypt Fitness Market is anticipated to grow at a tremendous rate at 16.0% CAGR on account of major government initiatives and rising health consciousness among Egyptians, as per findings released by Ken Research. 

Growing number of digital Fitness applications, and rising health awareness among the young population are listed as the key “pull” factors for the growth in the Egypt fitness Market. This market is expected to witness a growth of 16% in next 5 years.

1. Digital Fitness Application In Egypt Is Expected To Contribute More Than $75 Mn Revenue by 2025.

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Total penetration of applications in Egypt to increase from 13.1% in 2020 to 29.6% in 2025. Digital variations and tech innovations such as including online database engines that customize fitness training programs based on an individual's profile and a system that displays live heart-rate data so the leader of a group-exercise session can offer one-on-one guidance in real time will lead to the growth of fitness market.

2. 19 million Egyptians suffer from obesity, representing more than 30% of the total adult population.

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Over a third (30-35%) of adults in Egypt are obese which is one of the highest rates in the world. Overweight and obesity among school children constitutes an emerging concern and has increased from 15% in 2010 to 24.1 in 2020. Increasing awareness about the consequences of obesity that include high blood pressure, heart strokes, and diabetes will spur the demand for fitness centers in the country.

3. National Sports Day and Annual sponsored fitness events like Ooredoo Marathon are taken up by the Egyptian Government to Raise Awareness about Healthy Lifestyle and Physical Activity.

Major sporting events like Cairo Marathon and Maadi Runners, There mushroom free mass running events across Egypt promoting outdoor exercises with participation averaging around 2,500 runners and in large marathons around 8,000 or more participants. These initiatives aim to increase community awareness about the importance of physical activity and boost community’s capability to adopt healthy lifestyles, create a supportive healthcare environment, and encourage involvement of local communities and civil society organizations in the promotion of health awareness programs.

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Egypt Fitness Service Market

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India Used Agricultural Equipment Market Reached More Than INR 45k Crores by 2021, as More Small & Marginal Farmers are Opting for Agri-Equipment Purchase: Ken Research

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India Used Agricultural Equipment market has grown from nearly INR 19k Crores in 2016 to being valued at approx. INR 45k Crores in 2021, as per findings released by Ken Research.

1. India is No Farther Behind in Comparison to Major Producers in the World, in Terms of Mechanization: Share of Farming Entities Employing Mechanical Support in India Stands at Nearly 46% as of 2020.

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This South Asian nation (India) ranked second in the world for both rice and wheat production. Farmers are being pushed into farm mechanization by the additional farming operations needed to sustain the output. Also, due to the shifting manpower preference from purely farm-oriented activities to allied industries, there is a persistent scarcity of labor-intensive agricultural operations in India. Given that the labor in agriculture is shrinking and migrating to urban regions, rapid urbanization is also one of the main causes of the growth in agricultural mechanization. For instance, according to World Bank data, the proportion of individuals who are employed has been declining for a while. Agriculture accounted for 44% of all employment in 2017 but dropped to nearly 41% in 2020. Hence, it is projected that during the future years, the manpower scarcity would fuel and raise the need for farm equipment.

2. Small land holding area makes the renting of equipment more practical for most farmers; farmers having access to higher machinery capacity are the suppliers.

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India has a majority land holding size of area below 0.5 hectares, which is continuously decreasing. Rental market for agricultural equipment, is a viable option for the marginal holding farmer to allow mechanization due to its lower capital requirement and being cheaper than individual ownership. Rental sector is almost entirely unorganized, with local players dominating the market with their established connections. A majority of farmer co-operatives and association also pool their resources to rent equipment on need basis.This is because farmers in need of renting equipment also fall in the lower income group, with those renting out equipment being large farmers themselves, forming a symbiosis among farmers.

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India Used Farm Equipment Market

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The Global Pandemic has negatively impacted the Global remittance Market, owing to a loss of 8.8% working hours globally. How long will the rebound take? : Ken Research

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1. “Remittance Market:” A sector still trying to rebound from the after effects of the Global Pandemic?

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Much of the developing part of the globe relies heavily on remittances for financial support. Remittance flows into low-income and fragile states represent a lifeline that supports households as well as provides much-needed tax revenue. As of 2018, remittance flows to these countries reached $350 billion, surpassing foreign direct investment, portfolio investment, and foreign aid as the single most important source of income from abroad. According to the Migration and Development Brief, “remittance flows to low- and middle-income countries reached USD 540 billion in 2020, up 1.6% from 2019.” A drop in remittance flows heightened economic, fiscal, and social pressures on governments of these countries already struggling to cope even in normal times.

However, with the global world recovering from the aftereffects of the much loathed pandemic, the remittance flows to developing countries is expected to be balanced & grow at a steady rate.

2.” Uncalled migration:” Is remittance causing what we call a ‘Brain Drain?’

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Work is the main motivator. Migrant workers comprise two-thirds of all international migrants, and most move to high-income countries.  The remittances migrants send home—$613 billion in 2017—provide financial flows and a stable source of income. But a significant con of remittance is that it might result in encouraging more labour migration because family members who receive remittances believe that they would be better off moving to developed countries & earning more money than living in their home country. In the long run, this can have a negative impact, commonly referred to as ‘brain drain’. As a result, the population composition has most people outside the labour market range or uneducated individuals.

However, compared to other forms of international financial transfers, remittances have a positive direct impact on recipients and should be encouraged by appropriate policies from the relevant governments.

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Global Remittance Market

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The ups and downs of PHP 25 billion Health Tech Industry in the Philippines: Ken Research

 The Philippines Health Tech Market, which surged ahead with over 24.3% year-on-year growth in 2020, is poised to be a staggering PHP 55,000.0 Mn industry by 2025, as per findings released by Ken Research.

Covid-19 impacted the Health Tech market positively by forcing the government to lift up the existing barriers in terms of laws and regulations. Additionally, health tech implementation is slowly and gradually resolving most challenges of healthcare accessibility in remote areas. The Philippines is witnessing faster internet penetration. As adoption increases, the scope for health tech solutions would also increase in the coming years. This market is expected to witness a growth of 30.5% in the next 3 years.

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1. Online drug distribution has never been easy in Philippines

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As per the Food and Drug Administration of the Philippines, Advisory Number 2019-154, issued on 11th June 2019, online selling of medicines is not permitted as per the existing laws, rules and regulations. FDA only allows online ordering services if the seller has an existing FDA licensed pharmacy with physical address. Moreover, online ordering services are additional Services of a Pharmacy subject to approval of FDA.

2. Online consultation market has seen an exponential growth after the month of April (during lockdown)

Online consultation had a slow growth in the beginning but during the lockdown many users preferred using these platforms. Many physicians and other doctors’ groups started offering telemedicine service voluntarily in order to provide relieve hospitals from the burden of the Covid patients. A sudden increase was seen in the users for various platforms such as Medifi, Konsulta MD, Seeyoudoc and others. Moreover, in future, over 100 Mn Filipinos will soon have basic health services and reduced out-of-pocket expenditure with the impending rollout of the UHC Law promoting telehealth services.

3. Ayala Corporation has an eye on most Health Tech Start-ups.

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AC Health generated PHP 40 Mn in year 2020.  Although Ayala Corp. saw a drop of 17% in Q1, tele- communication and power subsidiaries remained steady even during ECQ. Moreover, the company is willing to invest in hospital of nearly 100 beds with in-house IT solution and Pharmacy. Focus will be on continuing to promote telemedicine as an alternative access point for healthcare services.

4. Around 30% doctors prefer using online services which provides a scope for appointment booking market to grow.

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Why was there an urgency to integrate Appointment Booking? Around 39 mins are wasted to reach the nearby healthcare facility in remote areas and an average waiting time at a doctor’s place is 2 hours. This was the reason doctors’ patients and doctors prefer online booking. Reduced waiting hours, user convenience, centralized information system will help the appointment booking platforms prosper in the future. Manila being the capital city, is expected to contribute the highest share in the revenue of the appointment booking industry. Moreover, shortage of the doctors is the major centered problem in Philippines and that can be addressed using online portals to booking appointments online

Philippines Government has become proactive in using technology. Service providers, government regulators and various civil society organizations in the Philippines have been pushing the adoption of telemedicine as a response to the COVID-19 crisis. Moreover, advent of Covid-19 has reasonably profited the Health Tech Market. Furthermore, the Home Healthcare market is expected to boom in the coming years. All these factors will increase in market share of the Philippines Health Tech Industry.

Leading Colleges Vietnam Medical Education Industry — Ken Research

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It is recently, estimated that every year US$1 Bn is spent by over 40,000 Vietnamese patients traveling abroad for healthcare services, as per a research published by ken research

1. In 2021, around 9% of the population in Vietnam was at least 65 Years Old, With an increasing demand for quality healthcare services.

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As of 2018, Vietnam had a population of about 96,000,000, making it the third-most populated nation in Southeast Asia and the thirteenth-most populous nation overall. The life expectancy at birth in Vietnam has increased from 71 years in 1990 to 76 years in 2015, which has coincided with the country's strong economic development. Under-5-year-old infant mortality rates declined from 58 per 1000 live births in 1990 to 18 in 2015, while the percentage of underweight children reduced from 37% in 1993 to 14% in 2015.Vietnam also has one of the most rapidly aging populations in the world, with an increasing demand for quality healthcare services and new issues likely to emerge in the health sector in future years.

Vietnam’s current healthcare expenditure per capita is one of the highest in the Southeast Asia Region. They are continuously making progress in increasing patient to bed ratio as well as patient to doctors ratio.

2. In 2021, there were around 11 doctors per 10,000 inhabitants in Vietnam. The number of doctors per ten thousand inhabitants in Vietnam had been growing steadily.

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The healthcare workforce in Vietnam is currently insufficient to meet manpower norms and practical needs, with the number of physicians in 2015 (around eight per 10,000 population) being quite low when compared to other countries in Southeast Asia. There is an increase in the population of Vietnam over the years but healthcare workforce is relatively low compared to the total population (around 1 physician and 1.3 nurses per 1,000 residents). There is an imbalance in the healthcare workers and the growth of the population. This will ultimately, drive the demand for more doctors in Vietnam.

3. Every Year US $1 Billion is Spent by Over 40,000 Vietnamese Patients Traveling Abroad; Why are Countrymen Lacking Confidence in the Prevailed Healthcare System?

Lack of trust in the existing healthcare system has been one of the major concerns in Medical Education Market. An increasing number of Vietnamese patients are spending big to receive medical treatment overseas despite the availability of qualified doctors and high-quality medication in Vietnam, as they prefer the bedside manners of foreign clinicians. Crude death rate in Vietnam in 2020 was 5.97, showing an increase from the last year.

For more insights on the market intelligence, refer to the link below:-

Vietnam Medical Education Market

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The Future of the AUD 14 Bn Pharmacy Retail Industry of Australia: Will the growth sustain? : Ken Research

Australia Pharmacy Retail Market, which surged ahead with over 6.9% year-on-year growth in 2020, is poised to be a staggering AUD 25.0 Bn industry by 2025, as per findings released by Ken Research.

COVID-19 Pandemic on the other hand impacted the customer footfall and average basket size of customers for the initial few months of the pandemic. However, as the restrictions were reduced the situation also got back to normal. Additionally, the pharmacy Retail Market in Australia has witnessed a moderate rise over the review period 2015-20. Growth in the Number of Pharmacists, Proportion of the Ageing Population Proportion, Increasing Number of Healthcare Problems, per capita healthcare expenditure, number of insured patients, the PBS Scheme, etc. have augmented the growth in the Australian Pharmacy Retail Market.

1. 1 in every 15 Australians works as a Registered Health Practitioner in over 1,300 hospitals, 5,800 pharmacies, and other healthcare settings.

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The health workforce in Australia is large and diverse, covering many occupations. These include health practitioners registered with the Australian Health Practitioner Regulation Agency (Ahpra) as well as other health professionals and health support workers. There were more than ~600,000 health practitioners working in their registered professions in Australia in 2020, which includes ~100,000 medical practitioners, ~350,000 nurses and midwives, ~20,500 dental practitioners, and ~170,000 allied health professionals.

2. Telehealth witnessed acceptance from Government as well as citizens, as Medicare Card Services were also extended for E-Health to help citizens amidst the Pandemic in March 2021

Early in the pandemic, Australia created incentives for healthcare providers to conduct telehealth visits. Medicare, Australia’s universal national health insurance system, added telehealth services to its list of reimbursable covered services, making it easier for patients to use telehealth and for doctors to get paid for providing care remotely. Australian Government expanded claim eligibility under Medicare to include healthcare services delivered via telehealth on 30th March, 2020 (COVID-19 Measures). Medicare card gives access to the Pharmaceutical Benefits Scheme (PBS), i.e., one only pays part of the cost of prescription medicines listed on the PBS. The PBS covers the rest of the cost. In case of a concession card, even lower price.

3. More than 65% of all medicines dispensed are to those aged 65 or >65 years & most of whom are pensioners or concession card holders.

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In 2020–21, PBS prescriptions were dispensed to 16.6 million Australians (65% of the population). Population dispensing rates increased with age – young people aged 0–14 had the lowest rates of dispensed prescriptions (145 prescriptions per 100 people aged 0–14), and the highest rates were among those aged 85 and over (5,928 prescriptions per 100 people aged 85 and over). Similar patterns were seen for both males and females. Within specific age groups, people aged 65–74 had the highest number of dispensed prescriptions and accounted for the highest Australian Government expenditure.  

4. My Health Record, a compulsion across all the Pharmacies in Australia.

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My Health Record was created for every Australian who wanted one, after 31 January 2019. After the specified date, a person also has the option of deleting their record permanently at any time. Pharmacist plans to install software/systems to connect to and be able to upload a document called the Pharmacist Shared Medicines List (PSML) to My Health Record. Furthermore, 2.6 Bn Documents uploaded to My Health Record i.e. From medical histories to the latest blood tests, from pathology reports to advanced care plans, more vital health information is now securely stored and available when needed.  

Retail Pharmacy Market in Australia will be driven by Innovations in Healthcare Service Packages and adoption of telemedicine services through their apps among Australians. Pharmacies will not only offer medicines, but will also extend their offer to include various types of products and services such as cosmetics and online consultations along with 24/7 service to further compete over long term. Additionally, they will focus on partnerships with Tele consultation Companies to enhance service portfolio. In the future, bigger pharmacies will acquire small pharmacies in order to expand in different regions in the country.

How has the global pandemic changed the growth trajectory of the India Online Furniture & Home Décor Market?

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Online furniture retailing was at a nascent stage with presence of a few players but increased digitization and growth in the number of urban millennials led to entrance of furniture E-tailers such as Pepperfry, Urban Ladder, etc.

In the late 2015, many start-ups entered the market backed by huge investments from VCs. Few acquisitions are also witnessed in the online furniture category. Moreover, Government initiatives such as Make in India provided the boost to domestically manufactured products and furniture brands.

But Covid-19 pandemic came as an unwanted catalyst for the industry and changed the whole landscape. How? Let’s find out together in this edition that talks about the pandemic and its impact on the Indian Online Furniture & Home Décor Market.

1.  The Indian furniture market has witnessed tremendous growth in online orders due to Covid-19 pandemic

2 …tailwind by rising disposable income and the growing number of urban homes

3.  The major players of the Online Furniture & Home Décor industry are building strengths by Focusing on Tech Advancements & Digital Marketing

4.  Work / Study from Home Culture due to COVID-19 coupled with Merger & Acquisitions have further shaped the India Online Furniture & Home Décor Sector

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5.  Covid-19 has initiated the furniture preferences that will go long into the future and enable the Indian Online Furniture & Home Décor industry to experience double-digit growth in the next five years.

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India Online Furniture and Home Décor Market

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