Showing posts with label India Upcoming Technologies PIS Market. Show all posts
Showing posts with label India Upcoming Technologies PIS Market. Show all posts

Tuesday, June 25, 2019

India Healthcare IT Market Research Report And Outlook to 2023: Ken Research


India Healthcare IT Market Overview:-
Market Growth (Current): The Healthcare IT market in India grew at a CAGR of ~% between FY’2013 – FY’2018. The various market segments grew at the following CAGR
HIMS
PIS
MIIS
LIMS

Market Stage: India Healthcare IT market is at it’s growing stage.
HIMS-Growth stage
PIS-Growth Stage
MIIS-Growth Stage
LIMS-Growth Stage

Competition Structure: India Healthcare IT market is highly fragmented in nature as there are many players in the market competing for the market share.
HIMS
PIS
MIIS
LIMS

Current Growth Drivers: Increasing demand for advanced analytical tools in the Healthcare sector, growing focus on telemedicine, increased automation in healthcare organization, and advancement of mobile technology act as the major growth drivers in the market.

Major Players: Wipro, Fujifilm, Siemens, Cerner Corporation, Thermo Fisher Scientific, Mckesson Corporation, Gofrugal Pharmacy Software, GTI Infotel, Allscripts Healthcare Solutions.
Market Growth (Future): In Future, the India Healthcare IT market is expected to grow at a CAGR of ~% during the period FY’2018-FY’2023E.
HIMS
PIS
MIIS
LIMS

Future Market Overview: With the rising demand for healthcare services, a greater focus is being laid on improving health care facilities and the supply of healthcare services is also growing steadily, as the private sector is becoming more involved in owning and running hospitals. Thus, patient data security and efficiency during the process of healthcare is considered to be vital. With greater number of people moving towards better equipped healthcare institutes, technological advancements become an imperative need for such healthcare organizations.

Future Growth Drivers: Some of the factors expected to drive the demand for India Healthcare IT market are introduction of AI into the market, increasing number of elderly population and increase in the number of Pharma retail stores. An accommodative business climate created by government’s supportive policies are expected to further attract more foreign capital, thereby creating more demand for Healthcare IT services.

India Healthcare IT Market Size:-
By Revenue:-
The India Healthcare IT market has grown from INR ~ crore in FY’2013 to INR ~ crore in FY’2018. The market increased at a CAGR of ~% during the above mentioned period.
There has been an increase in the government initiatives which has fueled the growth of the Healthcare industry market, various schemes launched by the government such as Nikshay, MCTS and IDSP has played a major role in the increase in the market size.

The healthcare organizations in the country used to give IT budgeting a low priority as compared to equipment budgeting. The spending on Computed Tomography scanners or Magnetic Resonance Imaging systems was emphasized over allocating small budgets for the implementation of HIS solutions. However, in the present times, with the impeding requirements for keeping track records, high cost solutions such as Picture Archiving and Communications System (PACS) is being implemented in corporate hospitals high-end private hospitals in the country, thus leading to market growth.

Over the years, the impact of information technology in Indian healthcare services has been transforming the sector into managed care services. It is believed that accessing information by providers and patients can be now easily done with safety and effectively through the use of information technology. It has been cited that health care solution results in efficiency, reduces delays and improves patient care, which are the prime growth drivers of healthcare IT market in India.

Future Outlook And Projections:-
By Type of Market - Revenue (HIS, PIS, MIS and LIMS):-
Hospital Information System (HIS):
The HIMS market holds the maximum share and is expected to dominate till FY’ 2023 as well since most of the hospitals are using software services for tracking and storing the health records of their patients.

Hospitals will start preferring Hosted and cloud services over on premise services which is more expensive, however it more beneficial in the long run. The initial cost of the application is also high. Furthermore, maintenance of the server needs to be carried out by the enterprise, and this adds to the resource requirements and their costs.
The market share by revenue of HIMS was 63.3% in FY’ 2018 and predicted to become 62.8% by FY’ 2023 and subsequently the revenue is also expected to rise from INR 8,500.0 crore to INR 14,257.3 crore during the same time period at a CAGR of 13.5%.

Pharmacy Information System (PIS):
The Pharmacy Information System has the second highest market share in the Indian Market of ~% in FY’2018. One major reason for high market share is Over Supply of Drugs, The low cost of production coupled with poor adherence to quality control measures has resulted in large supply of drugs in the market. This keeps the prices of drugs low and makes them accessible to the general public.

The organized pharmacies have started focusing beyond metro cities amid growing demand for branded retail stores in Tier 2 and Tier 3 cities. This has resulted in the growth of customer base.
The advent of online pharmacy has closed the spatial gap between customers and pharmacies. This has resulted in increase in average number of orders per customer as the customer can purchase drugs without any hassle.
The PIS market generated a market revenue of INR ~ crore in FY’ 2018 and is expected to rise to INR ~ crore by FY’ 2023, the market is anticipated to grow at a CAGR of ~% in the same time period.

Medical Imaging Information System (MIIS):
MIIS had a market share of ~% in FY’ 2018 which is expected to increase to ~% by FY’2023, the market will grow at a CAGR of ~%.
The market faces concentrated competition therefore price variations would highly affect the market.

Laboratory Information System (LIMS):
LIMS has the lowest market share of ~% in FY’2023 and will increase at a CAGR of ~% during the above mentioned period.

Key Segments Covered:-
HIMS:-
By Delivery Mode
On Premise
Hosted and Cloud

By Component
Software and Services
Hardware

By End Users
Private Hospitals
Government Hospitals
Clinics

PIS:-
By Delivery Mode
On Premise
Hosted and Cloud

By Component
Software
Services

By End Users
Popular Chain Brand
Standalone

LIMS:-
By Delivery Mode
On Premise
Hosted and Cloud

By Component
Software
Services

By End Users
Chain Labs/Multispecialty Labs
Standalone Labs

MIIS:-
By Type
PACS
Radiology Information System
Monitoring Analysis Software

Key Target Audience:-
Healthcare IT Companies
Hospitals
Clinics
Pharmacies
Path Labs
Private Equity Firms
Government Associations
Investors

Time Period Captured in the Report:-
Historical Period: FY2013-FY’2018
Forecast Period: FY’2019-FY’2023E

Companies Covered:-
HIMS
Cerner Corporation
Allscripts Healthcare Solutions
Athenahealth
Innovative Medisoft / MED-E-NOVA
Birlamedisoft Pvt. Ltd.
GTI Infotel

MIS
Wipro
Fujifilm
Siemens Healthenieers
SRIT (Shobha Renaissance IT Limited)
Shrishti Software
Telerad Tech

PIS:-
Mckesson Corporation
Logic Pharma Reatail
Go Frugal Pharmacy Software

LIMS:-
Thermo Fisher Scientific
LabWare
LabVantage Solutions
NextGen Healthcare IT Solutions
Caliber LIMS
Vanuston (Medeil)
Abbott Informatics/ Star LIMS

Keywords:-
India Healthcare IT Industry
Healthcare IT Industry In India
Market Research Report Of India Healthcare IT
India Healthcare IT Market Size
India Healthcare IT Market Revenue
Pharmacy Information System in India
India Electronic Healthcare Records
HIMS Software Pricing In India
Healthcare Software in India
Number of Pharmacies in India
India Upcoming Technologies Healthcare IT
India Technologies LIMS Market
Wipro Healthcare IT Market
Mobile Technology in Healthcare

For more information, refer to below link:-

Related Reports:-



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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249