Indian Healthcare IT Market Predicted to Grow Significantly

India ranks in the top five markets within Asia and is one of the fastest growing hospital information technology (HIT) markets in the region. The Indian healthcare industry is thriving with growth in all health-related products, equipment, solutions, and services, according to recent market research.

Globalization, increasing purchasing power, infrastructure development initiatives, a massive population base, and economic liberalization are making India a lucrative market. The country's healthcare system is developing rapidly and it continues to expand its coverage, services and spending in both the public as well as private sectors. This is creating a large market for hospital information systems and other healthcare-related IT solutions. TekPlus (Harrow, Middlesex, UK), a strategy consultancy and an industry analyst firm, expects the overall Indian market for hospital IT solutions to grow steadily at a compound annual growth rate (CAGR) of 15%.

Parul Mehta, the head of TekPlus healthcare sector, believes that customization and localization of products will fuel the market in the future. "There will be need of patient-focused solutions that can provide tailor-made treatment plans. Also, there will be demand for centralized solutions that can integrate all aspects of healthcare provision. Vendors who will be able to customize their products and provide a full plethora of services are going to have a competitive advantage. Integration and communication with existing IT infrastructure is going to be a necessity to achieve maximum efficiency in the health processes. The companies who are able to integrate their products and services faster and who are capable of providing seamless migration services plans, without costing an arm and a leg will be certainly at an advantage."

TekPlus is an information and communication technology (ICT) industry analyst firm focused on providing intelligence, strategic direction, and forecasts to its clients.

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