Asian Healthcare It Marker Riding On India

By Author: Amitesh kumar Gaurav
Total Articles: 1
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The phenomenal growth witnessed over last few years in the healthcare sector across Asia have received a lot of attention from both local and global markets. To meet the surging demand for quality healthcare, coupled with an increasing need to conform to global standards in delivery and management, healthcare service providers across most developed and developing economies of the region are fast gearing up their IT investments.Latest findings of springboard research-a leading global IT market research firm estimates the total Healthcare IT market in Asia (excluding japan) to be US&2.95 billion (INR 11,800 crore) in 2006 and expects it to accelerate with a compounded annual growth rate (CAGR) OF 13.1% to rach US&4.83 billion (inr 19,320 crore ) by 2010 .

MARKET GEOGRAPHY:- While these figures are exciting enough for vendors and solution providers to raise toast it is interesting to note that current geo graphical spread of this market is largely skewed towards China and Australia. considering proportions of actual spending in healthcare IT China emerges as the most lucrative destination with 46% of overall ...
... spending coming from across the’ the Great wall, while down under seems to be the next best market, with 25% spending coming from this island country.

ADVANTAGE INDIA :-While China glitters and Australia shines, there are opportunities are galore in the emerging India healthcare sector. The market potential in healthcare is getting so high in the land of Taj, that businesses in Big Apple are already celebrating- amply evident from the summary of recently held Bear stearns 20th annual Healthcare Conference in Newyork with top notch industry leaders unanimously chanting India as the next Asia healthcare hub. Going by the research result, India emerges as the leading Asian marker on ground of percentage growth of investment in healthcare IT. The expected growth rate of Indian market has been pegged at 22%, closely followed by China, Vietnam and Australia.

VENDOR BENDERS:-A major challenge for IT vendors, as identified in the research is attributed to the highly fragmented and disparate levels of development within industry players and relatively slower rate of market maturity. While this characteristic is common in many other industry sectors in Asia, healthcare seems to be having the deepest of furrows. Moreover, even within groups of developed and developing nations, there are apparently uneven, and often, contradictory trends and spending patterns, adding to market volatility. Much of this is comprehensible on the premise of local conditions prevailing in each country,in terms of economic, regulatory and even political environment- causing markets to surge, slump or flatten within particular political boundaries.It has been observed, that developed nations which have gone up in healthcare value chain are now showing higher spending in technologies for care management and patient records. While on the other hand and quite predictably so, emerging markets are putting larger share of their budgets in IT infrastructure, clinical application and diagnostic equipments.

INVESTMENT INSIGHTS :- Major factors driving IT investments on value-added application in developed markets are attributed to changing regulatory environment and privacy restrictions in some countries – leading to the need for introducing higher service quality standards, patient records management and even information sharing among service providers. Yet another trigger can be identified as the need of service providers leveraging better returns and attracting the international clientele. Quite in contrast emerging markets grappling with inefficient public healthcare systems and often dismal rural service delivery are investing heavily in community care, telemedicine and health information networks.