KOCHI: Information technology has surely got a place in the healthcare industry. As healthcare equipment become more IT-enabled, Health Informatics (HI) or Health IT is one thing which has great business potential in the future. The size of the market worldwide will be worth $27 billion by 2019 from $15.5 billion in 2013.
The share of India will only be $0.91 billion (around Rs 6,074 crore) by then with a growth rate of 16 per cent. As major players in the industry, ZH Healthcare, Practo and Cloudex Healthcare Solutions are in the process of expanding the market in the country, the future looks promising. Compared to the total healthcare industry in the country, HI contributes only 0.35 per cent of the market. The overall Indian healthcare market today is worth Rs 6.68 lakh crore and is expected to grow to Rs 18.7 lakh crore by 2020, a compound annual growth rate (CAGR) of 22.9 per cent. When the market grows it seems Health IT services will also expand. For the full article click here
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