The healthcare industry is one of the world's largest and fastest-growing industries, consuming over 10 percent of gross domestic product (GDP) of most developed nations. The increased allocation from developing countries ensures that the healthcare industry continues to grow at a healthy pace globally. The World Health Organization estimates there are 9.2 million physicians, 19.4 million nurses and midwives, 1.9 million dentists and other dentistry personnel, 2.6 million pharmacists and other pharmaceutical personnel, and over 1.3 million community health workers worldwide making the healthcare industry one of the largest segments of the workforce.
The healthcare industry by and large is local in nature and the priorities and challenges before the industry get defined by country specific factors. At the same time given the nature of services being provided, some issues the healthcare industry faces are universal in nature. For example, the challenge to provide affordable and accessible healthcare services to the population at large is a challenge in almost all countries. Similarly optimization of internal processes, building operational efficiencies, enabling collaboration between healthcare givers and ensuring patient safety and satisfaction challenges for all hospital administrators cutting across geographies.
The healthcare industry has been at the forefront when it comes to adopting new technologies and protocols related to diagnostics, medication or clinical procedures. However the same cannot be said about Information Technology. While industries like BFSI lead the innovation curve, healthcare players have been cautious about adopting IT in general. As the adoption of IT to solve business challenges has become compelling, the healthcare industry has been aggressively spending on IT platforms and Enterprise Applications in the last few years.