With the every transient year, the significant advances in the technology impression different growth patterns and effective trends which contrast within its several sub-domains. Furthermore, the healthcare industry is shifting effectively from the products and services to solutions. The institutions of the healthcare are aimed on the real-time results.
Additionally, in India the healthcare IT market is at the growth stage. During the period of 2013-2018, the India healthcare IT market in standings of revenue has augmented at a positive double digital CAGR. The market of healthcare IT is progressively growing with more number of pharmacies inaugural and the hospitals and clinics poignant towards the IT solutions for recording and stowing the patient’s data on statement as well as on hosted and cloud services. The consumers in the market are effectively price sensitive as there are numerous players existent in the market.
The healthcare IT services are efficiently utilized by foremost hospitals, pharmacies and clinics for the better administration purposes. The consumers choosing for the healthcare IT solutions widely utilize them for supervising the pharmacies, in patients, out patients, laboratory testing, medical imaging and protecting the patient records.
According to the report analysis, ‘India Healthcare IT Market Outlook to 2023 – By Hospital, Pharmacy, Medical Imaging and Laboratory Information Management Systems and by Delivery Mode (On Premise, Hosted and Cloud Mode), By Component and By End Users’ states that there are numerous key players which are recently functioning in the India healthcare IT market more actively for leading the fastest market growth and dominating the high value of market share while developing the technology’s specifications of delivering the better healthcare services, spreading the awareness across the region related to the developing applications of the healthcare IT and significantly determining the growth opportunities and growth drivers includes Wipro, Fujifilm, Thermo Fischer Scientific, Allscripts healthcare solution, Cerner Corporation, Innovative Medisoft, Mckesson Corporation, GTI Infotel, Birlamedisoft, Athenahealth and Shrishti Software. These players contend on the basis of implementation cost, implementation ease, functionality, certification, customization and proficiency.
The India Healthcare IT market is exceedingly disjointed. Whereas, the India Healthcare IT market is segmented into HIMS, PIS, LIMS and MIIS. However, the PIS market is majorly registered by the unorganized players and they are the ones monitoring the market. With the extension plans of large chains and augment in the number of unorganized pharmacy stores, the industry will undergo some association. Moreover, the laboratory information systems market in India is a niche sector of the healthcare IT market, which has been observing the incredible growth over the last few years and will endure to increase in the coming years.
In the forecasted period, it is predicted that the India Healthcare IT market in terms of revenue will augment at an effective double digit CAGR during the period FY’2018 –FY’2023E. The requirement for the Healthcare IT technology services will be further increased principally with the rise in number of pharmacies, hospitals and pathology labs and effective rise in the per capita disbursement on healthcare. The usage of the HIMS will augment in the future mostly owing to the growth in number of Hospitals, medical Tourism and Telemedicine will further rise the need of Healthcare IT services in hospitals. Therefore, in the near future, it is anticipated that the market of India healthcare IT will increase across the globe more significantly over the decades.
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Ankur Gupta, Head Marketing & Communications