The Indian healthcare IT market is valued at $1billion (about Rs 6,650 crore) and is likely to grow about 1.5 times by 2020, according to a report by IT industry body Nasscom.
The report said within the market, the healthcare software segment generated revenues of $96.8 million in 2014 and is likely to grow at a compounded annual growth rate (CAGR) of 11% over the next five years. Comparatively, the worldwide health tech market is estimated to grow at a CAGR of 6% to $25 billion by 2020 from $17.36 billion in 2014. In India, healthcare software is a small part of the total healthca re IT segment, comprising only about 9%. “There are about 150 companies operating in this space in India and they are creating products and solutions for a global customer and finding acceptance,” Sangeeta Gupta, senior vice-president — events, research and communication at Nasscom.