High on innovation, rising demand and rejuvenated confidence to translate opportunities into success, the Indian pharmaceutical industry, which is among the top three in terms of volume globally, is growing leaps and bounds. By an estimate, the industry is all set to expand at a Compound Annual Growth Rate (CAGR) of 16 per cent to $55 billion by 2020. Much of this growth will depend on Indian pharma companies’ capacity to adopt Information Technology to drive their productivity, improve efficiency and maintain cost effectiveness.
In view of increased digital adoption, it is expected that Healthcare Information Technology (IT) market would expand more than 1.5 times by 2020 from its current value of $1 billion to meet the demand from pharma industry as well as other vertical of the healthcare sector….[Read More]