New Delhi, June 18, 2019: The report titled “India Healthcare IT Market Outlook to 2023 – By Hospital, Pharmacy, Medical Imaging and Laboratory Information Management Systems and by Delivery Mode (On Premise, Hosted and Cloud Mode), By Component and By End Users” provides a comprehensive analysis on the Healthcare IT market of India. The report covers various aspects including introduction, pricing analysis, Market Overview and Genesis, Porter’s Five Forces Model, trends and developments, issues and challenges, SWOT analysis, competitive landscape, India Healthcare Statistics and government regulations. The report concludes with future market projection and analyst recommendations highlighting the major opportunities and cautions.
Market Overview
India Healthcare IT market is at the growth stage. India Healthcare IT market in terms of revenue has increased at a positive double digit CAGR during the period FY’2013-FY’2018. The market is gradually increasing with more number of Pharmacies opening up and Hospitals and clinics moving towards IT solutions for recording and storing the patient’s data on premise as well as on Hosted and cloud services. The customers in the market are highly price sensitive as there are various players present in the market.
Healthcare IT services are used by major hospitals, clinics and pharmacies for better management purpose. The clients opting for Healthcare IT solutions largely use them for managing Pharmacies, in patients, out patients, laboratory testing, Medical imaging and keeping patient records.
India Healthcare IT Market Segmentation
HIMS
By Delivery Mode: The HIMS market on the basis of delivery mode is divided into on premise and Hosted and Cloud based. Hosted and Cloud services hold the major share in the market and will grow at a positive double digit CAGR from FY’2018-FY’2023E.
By Component: On the basis of component, the HIMS market is segmented into Software & Services and Hardware. Software & Services accounted more than half of the revenue share in the market as all the Hospitals opts for the Software which is of very high cost, and mostly the hardware component is already available with the hospitals.
By End Users: Private Hospitals are the largest contributor towards the HIMS system which accounted for more than half the market share. The second position is held by Government Hospitals followed by clinics which has shown a growth of positive double digit CAGR.
PIS
The PIS market is majorly dominated by the unorganized players and they are the ones controlling the market. With the expansion plans of large chains and increase in number of unorganized pharmacy stores, the industry will undergo some consolidation. The retail pharmacy sector is quite fragmented, posing a major challenge in addition to the complex supply and distribution chain comprising various stakeholders as well as the circulation of drugs. Many pharmacies have been implementing online tracking system for managing their inventory of medicines. Major companies offering PIS services in India include Cerner’s Pharmacy System, Mckesson, Logic Pharma and others.
LIMS
Laboratory information systems market in India is a niche segment of the healthcare IT market, which has been witnessing tremendous growth over the last few years and will continue to grow in the coming future. There are many standalone labs in the country and their number is increasing significantly. Most of the major players operating in the market have already adopted LIMS and the stand alone companies are also following their footsteps. Market is highly fragmented largely dominated by the local firms operating in the market. Major players include Thermo Fisher Scientific, Labware, NextGen and others.
MIIS
In the medical imaging arena common-use cases include 3-D viewing, clinical collaboration and easy PACS connectivity, which enable access to radiology reports and referral studies. Large imaging independent software vendors are investing in cloud-based MIIS platforms which will eventually enable integration of their medical devices across the world. Picture Archiving and communications Systems (PACS), Radiology Information System and Monitoring Analysis software are the major type of MIIS and accounted for the highest revenue share amongst the three MIIS components and will grow at a double digit CAGR in future.
Competitive Landscape
The India Healthcare IT market is highly fragmented. The market has several players operating in the market. The major players in the market are Wipro, Fujifilm, Thermo Fischer Scientific, Allscripts healthcare solution, Cerner Corporation, Innovative Medisoft, Mckesson Corporation, GTI Infotel, Birlamedisoft, Athenahealth and Shrishti Software. These players compete on the basis of Implementation cost, implementation ease, functionality, certification, customization and expertise.
India Healthcare IT market Future Outlook
In future, it is anticipated that India Healthcare IT market in terms of revenue will increase at a positive double digit CAGR during the period FY’2018 –FY’2023E. The demand for Healthcare IT technology services will be further augmented largely with increase in number of pharmacies, hospitals and pathology labs and rise in per capita expenditure on healthcare. The use of HIMS will increase in future largely due to the growth in number of Hospitals, medical Tourism and Telemedicine will further increase the demand of Healthcare IT services in hospitals.
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: FY’2013-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
Key Topics Covered in the Report:-
Executive Summary
Research Methodology
Value Chain Analysis
India National Health Statistics
India Healthcare IT Market Overview and genesis
India Healthcare IT Market Size by Revenue (FY’2013-FY’2018)
India Healthcare IT Market Segmentation (FY’2013-FY’ 2018)
India HIMS Market Size by Revenue
India HIMS Market Segmentation
India HIMS Market Upcoming Technologies
Pricing and Software Analysis of HIMS market
India HIMS Market Competitive Scenario and Major Company Profiles
India PIS Market Size by Revenue
India PIS Market Segmentation
India PIS Market Upcoming Technologies
India PIS Market Competitive Scenario and Major Company Profiles
India LIMS Market Size by Revenue
India LIMS Market Segmentation
India LIMS Market Upcoming Technologies
India LIMS Market Competitive Scenario and Major Company Profiles
India MIIS Market Size by Revenue
India MIIS Market Segmentation
India MIIS Market Upcoming Technologies
India MIIS Market Competitive Scenario and Major Company Profiles
India Healthcare IT Market Analyst Recommendations
For more information, refer to below link:-
Corporate Comm India(CCI Newswire)
