India Healthcare IT Market Prospects to 2018 – Increasing Focus of Vendors in Tier 2 and 3 Cities
Introduction of New Healthcare Models by IT Companies to Explore Simple, Cost Effective Innovative Technologies to Support Market Growth
Healthcare IT market in India will continue to grow at a considerable pace in the next few years with addition of small hospitals in different regions in the country, thus easing the access to healthcare facilities and greater number of hospitals realizing the potential benefits of deploying IT. The market is predicted to grow at a CAGR of 12.9% from FY’2013-FY’2018 and is expected to cross INR 8,000 million by FY’2018. The future of the industry is predicted to be digital and fully inter-connected.
Spurring investments, new hospitals, insurance penetration, and regulatory push and manpower shortages will drive the growth of the industry in the future. The introduction of new health care models by IT companies aiming to explore the possibility of innovative technologies which are simple to use, cost-effective, portable and power-independent is expected to drive the market growth in the future.
Furthermore, with new upcoming technologies such as telemedicine and e-prescriptions, IT investments on softwares would further rise with a focus on integrating billing and online availability of patient records across hospitals. Interoperable products and mobile solutions are expected to gain popularity in the future, as hospitals are focusing on solving integration issues and increase the usability of IT solutions to achieve better acceptance from users such as physicians, nurses, and other healthcare professionals. The number of mobile and Internet users in India have also been witnessing an increasing trend, hence new business models emerging in this space are expected to gain acceptance.
According to an industry veteran, “the scope of EHR in India has only been restricted to metro and tier 1 cities, however, with continuous government support and state governments emphasizing on modernization and automation of public
Healthcare IT market in India will continue to grow at a considerable pace in the next few years with addition of small hospitals in different regions in the country, thus easing the access to healthcare facilities and greater number of hospitals realizing the potential benefits of deploying IT. The market is predicted to grow at a CAGR of 12.9% from FY’2013-FY’2018 and is expected to cross INR 8,000 million by FY’2018. The future of the industry is predicted to be digital and fully inter-connected.
Spurring investments, new hospitals, insurance penetration, and regulatory push and manpower shortages will drive the growth of the industry in the future. The introduction of new health care models by IT companies aiming to explore the possibility of innovative technologies which are simple to use, cost-effective, portable and power-independent is expected to drive the market growth in the future.
Furthermore, with new upcoming technologies such as telemedicine and e-prescriptions, IT investments on softwares would further rise with a focus on integrating billing and online availability of patient records across hospitals. Interoperable products and mobile solutions are expected to gain popularity in the future, as hospitals are focusing on solving integration issues and increase the usability of IT solutions to achieve better acceptance from users such as physicians, nurses, and other healthcare professionals. The number of mobile and Internet users in India have also been witnessing an increasing trend, hence new business models emerging in this space are expected to gain acceptance.
According to an industry veteran, “the scope of EHR in India has only been restricted to metro and tier 1 cities, however, with continuous government support and state governments emphasizing on modernization and automation of public