Need for Paper Less Technology:
Healthcare IT is the area of information technology that involves the design, development, creation, use and maintenance of information systems for the healthcare industries and other healthcare providers. It supports health information management across computerized systems and the secure exchange of health information between consumers, providers, payers and quality monitors. With the utilization of electronic health records (EHRs) use of information technology (IT) is increasing in healthcare sector.
Access Full Report at https://databridgemarketresearch.com/reports/india-healthcare-it-market/
Earlier the data was handled and recorded manually. Growing prevalence of numerous diseases with the rising population led to improper management and several errors. Data safety was also one of the major concerns in manually handled data. The IT healthcare is enabling and offering all possible means of intense shortfalls in the existing healthcare records systems all across the world, this can be solved which will allow information to be readily communicated and shared among healthcare providers that has been advocated as a means of improving quality of care and helping to control healthcare costs over the long term.
Digitisation is helping to simplify the working lives of healthcare specialists with the paperless technology. It helps to reduce the time spent on administrative tasks and checking through paperwork. There are several companies that are building advanced systems to support paperless working practices and the fast-growing universe of digital clinical and patient data.
Increasing Government Initiatives on Healthcare IT Sectors:
Various healthcare IT related government initiatives have been launched by the government of different countries such as India, China, Japan and others, that has a clear vision to deliver better health outcomes.
Below are few initiatives taken by government in HCIT sector:
According to the National Health Portal, gateway of authentic health information some of the e-Health initiatives have been taken by Indian government such as NHP Indradhanush-Immunization, NHP Swasth Bharat, India Fights Dengue, E-RaktKosh initiative and ANM Online application- "ANMOL". This National Health Portal, India aims to provide healthcare related information to the citizens of India and it will serve as a single point of access for combined health information. Mainly women and children have been focused in these initiatives.
The government of India, Ministry of Health and Family Welfare (MoHFW) has started e-Gov initiatives in the health care sectors in India. It named it as eHealth division. The e-Health broadly interprets the use of information and communication technology (ICT) in the healthcare sector. This initiative promises to deliver better health outcomes by:
High Installation and Maintenance Cost:
Unlike in many other areas, the cost of medical technology is not declining and its increasing use contributes to the spiraling healthcare costs. Many medical professionals equate progress in medicine to increasing use of sophisticated technology that is often expensive and beyond the reach of the average citizen.
LIMS is used in the healthcare industries for the management of the data on a larger scale. But LIMS is costly software and the maintenance of the software is also a costlier issue. The cost of some of the LIMS is mentioned below:
The cost of the LIMS depends on the user’s number and since the software itself is costlier and along with that the maintenance cost of the software is also high.
Issues in Information Exchange:
The health information exchange is essential to achieve true interoperability, but solutions are also essential for addressing challenges to information sharing. The act of transferring the data health information via electronic mode is known as health information exchange. It is widely used to bring all the health care entities within the geographic area and regulates health information exchange amongst them for the purpose of improving health and care in their community. Hospitals and physicians are now exchanging more electronic health information than ever before. The health providers are encountering multiple obstacles in the implementation of HIEs (Health information exchange). Many healthcare professionals have raised doubts about HIEs in the safety data exchanging and network issues.
According to the survey by GHIT(Global Health Innovative Technology) of healthcare providers, dealers and experts have found five issues that constitute the top concerns that are, data sharing, patient consent, standards, complexity costs and competition. The issue of data sharing is like, if the data is being exchanged with via CDs and DVDs it can take too much time, they might get lost, they are not patient-friendly and make multidisciplinary discussions complicated.
Growth in Emerging Markets:
Healthcare demand in emerging markets is growing due to increasing number of factors such as a growing population as well as an ageing population. With the growing middle class and rising incomes, people are spending more on healthcare. The demand of care is growing widely with the constantly changing lifestyle and disposable income in the emerging countries is some of the opportunity in the healthcare IT sector for emerging countries.
As digital healthcare plays an important role in GTEH healthcare industry now days. Emerging countries are also investing and taking keen interest in the management. In 2015, a ‘cloud hospital’ was launched which was featuring cloud computing, big data and the internet of things. The hospital acts as a connecting platform for specialists, local health centres, hospitals, pharmacies and insurance providers.
According to an article published by Philips, the company has expanded their market leadership position in
Latin America and gained market share in each key emerging market or developing country, further strengthened commercial and industrial footprint in different regions, expanded commercial set, and increased up and customer loyalty. It has estimated that the growth of world population to 9 billion in 2050 will take place in emerging markets. Increasing demand from lower tier hospitals and regions are also the part of emerging markets.
Growing R&D Activities:
Healthineers R&D activities are strongly focused on the development of innovative product lines which use new technologies such as artificial intelligence. This enables faster handling of medical information and can lead to more precise and personalized clinical decisions. R&D activities also promise to add some value. New computer algorithms can detect hidden patterns in the data and give physicians valuable support for diagnosis and therapy decisions.
Below are few mentioned R&D activities of some companies
Siemens AG, a technology company serves in the fields of electrification, automation and digitalization. Siemens Healthineers, a pioneered group in diagnostic imaging and laboratory diagnostics.
Research and development (R&D) activities in healthcare IT sectors are ultimately geared to develop innovative, sustainable solutions for the customers and the company’s businesses and simultaneously, safeguarding the organisations competitiveness. Siemens’ is focusing on R&D activities on a number of selected technologies and innovation fields.
Koninklijke Philips N.V.
The connected health IT solutions are offered by Koninklijke Philips N.V through its Connected Care & Health Informatics businesses.
India healthcare IT market is segmented into two notable segments which are products & services and the end users.
Some of the major players operating in the India healthcare IT market are Epic Systems Corporation, McKesson Corporation, Cerner Corporation and others.
India Healthcare IT Market- Industry Trends and Forecast to 2025