Updated April 1st, 2024 at 18:53 IST

Health tech witnesses strong hiring growth, projected at 15-20% in FY24

The CEO of CIEL HR noted that hiring in the sector has been consistently on the rise, with a promising outlook for the coming year.

Reported by: Business Desk
Health tech | Image:Unsplash
Advertisement

Health tech hiring: Despite a downturn in investments, the health tech sector in India is set to witness strong growth in hiring, projected at 15-20 per cent for the year 2024, according to a report released by HR services company CIEL HR. 

In 2023, the sector demonstrated resilience with a 9 per cent increase in employment compared to the previous year, despite facing challenges such as reduced funding. Aditya Narayan Mishra, CEO of CIEL HR, highlighted the sector's potential for rapid expansion, driven by socio-economic changes in India and the country's competitive advantages in patient care, manufacturing, and research and development (R&D).

Advertisement

Mishra noted that despite the funding constraints, hiring in the sector has been consistently on the rise, with a promising outlook for the coming year. He highlighted the importance for companies to refine their talent attraction and retention strategies to capitalise on the available opportunities.

The report, based on data and analysis of 42,166 employees across 38 leading health tech organisations in India, as well as job postings on various portals, revealed that companies prioritised filling roles in sales, business development, technology, and product development throughout 2023. This hiring trend defied market expectations, continuing to grow despite cost-cutting measures and a hiring slowdown.

Advertisement

Currently, organisations are actively seeking professionals in fields such as software development, data analytics, and quality assurance, according to the report. Overall, the health tech sector appears poised for significant growth in employment, indicating a positive outlook for the industry in the coming year.

(With PTI inputs)

Advertisement

Published April 1st, 2024 at 18:53 IST