Alarming Rise in Chronic Diseases Stokes Demand in India Healthcare Informatics and Patient Monitoring Market

Usage of technology in the healthcare industry is empowering healthcare to save more lives and help people to recover from diseases more comfortably. Technically advanced equipment are used for every treatment and this is helping the healthcare informatics and patient monitoring market to grow globally. This market seems to rise exponentially in India due to the rising demand for better medical resources. According to Transparency Market Research, the healthcare informatics and patient monitoring market in India is expected to rise at a CAGR of 16.3% for the period 2017-2025 to attain a value of US$560.9 mn by 2025.

The informatics and patient monitoring market in India can be demographically divided into two segments – rural and metropolitan. Among these, metropolitan hospitals & healthcare facilities dominate the rural hospitals & healthcare facilities with a vast difference. On account of this, for the year of 2014 urban hospitals & healthcare facilities accounted for 88% of the total market.

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The increasing number of hospital beds in metropolises and cities and growing occurrences of fatal disorders in urban areas have aided this segment to gather the major share of the market. One of the other major factors for this segment’s dominant position is the escalating occurrence of cardiovascular and respiratory diseases in these regions due to various types of pollutions.

The escalating geriatric population has augmented the incidence of chronic diseases in India. This situation has created increased demand for advanced healthcare devices and equipment.

Southern India is quickly adopting technologically advanced patient monitors and latest medicinal technologies because of firm support from the government. The market for South India stood at US$56.81 mn in 2015 that formed a share of 39.0% of the India healthcare informatics and patient monitoring market.

Taking inspiration from the healthcare facilities provided in South India, state governments of other states are starting programs to improve the healthcare infrastructure in their states. This will further help the healthcare informatics and patient monitoring market to grow in India.

In addition, many startups are emerging in India with an aim to provide cheaper and innovative healthcare solutions to the common people. Big companies are trying to reform the healthcare system by introducing technologically advanced equipment as well.

For instance, Philips has introduced advanced healthcare solutions that showcase the future of healthcare in India. They have introduced advanced systems such as automatic charting and flow sheets of patients in critical care, eICU solutions, virtual ICUs, wireless networking monitoring systems, and systems that will transmit details about patient from the ambulance to the hospital. Furthermore, Philips has successfully installed these new solutions in hospitals of Mumbai and Pune, and is planning to install them in various hospitals across the country. These collective efforts from governments, startups, and established businesses ensure the bright future for healthcare informatics and patient monitoring market.

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Name: Rohit Bhisey
Organization: Transparency Market Research

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