Despite a slowdown in funding, India's HealthTech sector has exhibited remarkable resilience, with employment witnessing a 9 percent increase over the past year, states CIEL HR's latest HealthTech Sector Employment Trends Report. Projections for 2024 indicate a promising outlook, with an anticipated rise of 15-20 percent in hiring.

The report unveils a significant surge of 74 percent in HealthTech jobs over a span of two years. However, a funding slowdown in 2023 resulted in a temporary deceleration in hiring, particularly observed between August and December.

Amidst cost-cutting endeavors, companies remained committed to filling crucial positions in sales, business development, technology, and product development throughout the year. This steadfast recruitment drive led to a notable 9 percent growth in employment, surpassing broader market trends.

Aditya Narayan Mishra, CEO of CIEL HR, expressed optimism regarding the sector's potential for rapid growth, citing socio-economic changes and India's competitive advantages in patient care, manufacturing, and R&D. Mishra noted, "Despite the funding winter, hiring has surged, and the outlook for the coming year is robust. Companies must refine talent strategies to seize this opportunity."

Presently, HealthTech firms are actively seeking professionals skilled in software development, data analytics, and quality assurance. In-demand roles include DevOps Engineer, Mobile App Developer, Data Scientist, and Sales Manager. Proficiency in Python, .Net, Data Science, and data security protocols are highly valued. Key recruiters encompass HealthTech Healthcare, Tata 1mg, and PharmaEasy.

The report underscores gender diversity within the HealthTech sector, with women constituting 24 percent of the workforce and 18 percent of executive teams. Notably, around 50 percent of HealthTech executives are receptive to exploring new opportunities.

A prevalent challenge in the industry is the high attrition rate, attributable to its startup nature, resulting in a median tenure of two years, lower than traditional sectors. Looking ahead, the HealthTech sector anticipates a rebound post the slowdown, with a projected 15-20 percent surge in employment. Embracing innovation, diversity, and talent development will position companies favorably to address healthcare challenges and propel advancements in patient care and technology.

Based on data from 42,166 employees across 38 leading Indian HealthTech companies, the report's job analysis encompasses insights drawn from 241 job postings on various portals.