India Healthcare IT Market, By Products & Services (HCIT Outsourcing Services, Healthcare Provider Solutions, Healthcare Payer Solutions), End User (Providers, Payers)–Industry Trends and Forecast to 2025Healthcare is the fastest developing and growing sector worldwide. The information technology sector is highly integrated with the healthcare to overcome the issues regarding big data management and its safety. It also enables information exchange with security and no change in the data feed. The information technology in the healthcare used for recording, analyzing, designing, developing, creating, using, maintenance and sharing the patient health data. Technologies and solutions of healthcare IT includes electronic health record systems, electronic personal health tools such as smart devices and apps and communities, software and cloud services to share and discuss information.
India healthcare IT market is expected to reach at a CAGR of 23.9% in the forecast period of 2018 to 2025.
Segmentation: India Healthcare IT Market
The India healthcare IT market consists of two segments products & services and the end users.
- On the basis of products & services, the market is segmented into HCIT outsourcing services, healthcare provider solutions and healthcare payer solutions. The healthcare provider solutions are further segmented on the basis of clinical solutions and non-clinical solutions. The clinical solutions are further sub segmented into electronic health records medical image processing and analysis systems, picture archiving and communication systems, radiology information systems, laboratory information systems, vendor neutral archive, computerized physician order entry, clinical decision support systems, specialty management information systems, healthcare IT integration systems, practice management systems, radiation dose management and others. The non-clinical solutions are also sub segmented into healthcare information exchange, revenue cycle management solutions, financial management systems, population health management solutions, medical document management solutions, pharmacy information systems, workforce management systems and healthcare analytics. HCIT outsourcing services segment is growing at the highest CAGR of in the forecast period of 2018 to 2025.
- In January 2018, Epic Systems has announced a suite of new EHR and big data exchange features to enhance interoperability and population health management. The system will help creating true interoperability within a comprehensive health record by improving various data exchanges, patient and provider communication, and population health management functionalities. This series of new and upgraded functionalities will emphasis on refining interoperability, streamlining workflows, and facilitating access to key data elements required to succeed in a value-based care environment.
- On the basis of end users, the market is segmented into providers and payers. Providers are further sub segmented into hospitals, home healthcare, diagnostic centers, ambulatory surgical centers and pharmacies. Payers are further sub segmented into public and private. Providers segment is growing at the highest CAGR of in the forecast period of 2018 to 2025.
- In April 2018, McKesson has launched Health Mart Atlas, which is the largest network of high-performing community pharmacies dedicated to delivering high quality care with a personal touch.
Competitive Analysis: India Healthcare IT Market
Some of the major players operating in this market are Agfa-Gevaert Group, McKesson Corporation, Koninklijke Philips N.V., Infor, Siemens AG, GE Healthcare, Epic Systems Corporation, Cerner Corporation eClinicalWorks, athenahealth, Inc., Practice Fusion, Inc., Greenway Health, LLC, NextGen Healthcare (QSI Management, LLC), Oracle, Allscripts and Carestream Health among others.
- In April 2018, Siemens has introduced Manage MyMachines/Remote with a new app to drive systems called Analyze MyDrives in the field of Motion Contro, and, a new plug-in to upgrade its tried and tested Manage MyMachines MindApp for machine tools this is provided with the addition of a smart remote feature..
- In March 2018, Siemen AG launched SIMATIC IT Unilab, an innovative laboratory information management systems which offers flexibility and configurability for the management of all laboratory data. The web-based interface of the new Unilab V7 system offers a modern, practical surface which will allow users direct access to its wide range of functionalities. The newly launched product strengthens the product portfolio of Siemens.
- In February 2018, Infor has launched networked order management system that will be helping the customers to enables and to improve their organization’s omni-channel customer experiences, leverage stores as fulfillment centers, and tap into an underutilized supply of global inventory.
- In April 2018, Philips and Digital China Health have launched tele-radiology services in China, It is a secure cloud-based platform for tele-radiology application (SHINEFLY). The application is co-created by the two companies to meet the demands of China’s rapidly expanding healthcare system.
Research Methodology: India Healthcare IT Market
Primary Respondents: Key Opinion Leaders (KOL’s): Doctors, Surgeons, Nurses, Researchers, Medical and Industrial Professionals, CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers