The India healthcare IT market has accounted a market value of USD 3.9 billion in 2016 and is expected to grow to USD 8.8 billion in 2024, growing at a CAGR of 10.9% during the forecast period 2017 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
There is a growing inclination across the globe towards the adoption of healthcare IT technologies due to the increasing need to deliver quality care to patients while curtailing escalating healthcare costs. These robust IT solutions are designed to streamline workflow in healthcare systems, reduce expenses, and facilitate compliance with stringent regulatory guidelines. They offer several benefits such as increased patient safety, better patient care, reduced healthcare costs, and high returns on investment (ROIs) through automated workflows.
The India healthcare it market is segmented on the basis of product type, end-user,and geography.
The India healthcare IT market is broadly divided into three segments—healthcare provider solutions, payer solutions, and HCIT outsourcing services. The healthcare provider solutions market is further segmented into clinical solutions and non-clinical solutions. The clinical solutions segment covers EHR/EMR, PACS and VNA, CPOE RIS, CDSS, specialty information management systems, healthcare IT integration systems, practice management systems, radiation dose management systems, radiology information systems, medical image processing and analysis systems, laboratory information systems, digital pathology solutions, telehealth solutions, and mHealth solutions.
The non-clinical solutions segment includes pharmacy information systems, medication management systems, healthcare asset management, workforce management systems, revenue cycle management, financial management systems, medical document management systems, healthcare information exchange, population health management, supply chain management, healthcare analytics, and customer relationship management. The payer solutions segment includes pharmacy analysis and audit, claims management, fraud management, computer-assisted coding, care management, medical document management systems, payment management solutions, provider network management, member eligibility management, and other payer HCIT solutions. In 2016, the claims management segment accounted for the largest share of the India healthcare IT payer solutions market.
FIGURE : NON CLINICAL IT MARKET SEGMENT IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF THE HEALTHCARE IT MARKET IN 2017
The India healthcare IT market is segmented based on the end-users into payers and providers. Providers include hospitals, ambulatory surgical centers, diagnostic centers, home healthcare and others. Payers include private and public healthcare reimbursement and insurance agencies. Hospitals are expected to dominate the market for healthcare IT solutions market.
Some of the major players operating in this market are Carepoint Health, Oracle, AVI-SPL, Inc., Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, Qualcomm Life, Inc., Interfaceware, Inc., Orion Health, Quality Systems, Inc., Cerner Corporation, InterSystems Corporation, Infor, Inc., Orion Health, Summit Healthcare and Siemens,IBM, Bio-Analytical Technologies, Attune Technologies, Mindfiresolutions, Vitalhealthsoftware, Niyati, Napierhealthcare, GEBBS Healthcare Solutions, Ecare India, Antheliohealth, Infinite ,Medusind , Healthfore, Siemens Healthineers , Medsynaptic, Omega Healthcare among other vernacular players.