India home
healthcare market is anticipated to witness impressive growth during the
forecast period. This can be ascribed to the growing demand for home healthcare
treatment by the people to avoid inconvenience. Home healthcare services offer
patients the convenience of receiving medical care and support in their own
homes, rather than traveling to a healthcare facility. This is particularly
beneficial for patients with mobility issues or those who live far from medical
facilities. The market is witnessing significant technological advancements,
with the development of telemedicine, remote monitoring, and mobile health
(mHealth) technologies. These technologies enable healthcare providers to offer
high-quality care and improve patient outcomes in the home healthcare setting.
This is expected to create a lucrative growth of the India home healthcare
market during the forecast period. According to Statistics India, people can
save 10% to 25% of their overall medical treatment cost through home
healthcare. This may drive the growth of the India home healthcare market
during the forecast period.
Growing
Geriatric Population
The aging
population is a major driver of the India home healthcare market. The geriatric
population in India is expected to reach 340 million by 2050, which will
represent more than 20% of the country's total population. This represents a
significant increase from the current geriatric population of around 120
million. As people age, they are more likely to develop chronic conditions that
require ongoing care and management. This increases the demand for healthcare
services, including home healthcare services.
Many elderly
individuals prefer to receive care in their own homes rather than in a hospital
or other healthcare facility. Home healthcare services allow patients to
receive the care they need in the comfort and familiarity of their own homes.
Home healthcare services can be more cost-effective than traditional healthcare
services, especially for elderly patients who require frequent or ongoing care.
By providing care at home, home healthcare services can reduce the need for
hospitalization and other expensive treatments. The cost of nursing care can
vary depending on the level of care required. Basic nursing care, such as wound
care and medication administration, can cost between INR 300 to INR 500 per
hour. Advanced nursing care, such as post-operative care or palliative care,
can cost between INR 800 to INR 1,500 per hour. Such factors are expected to
drive the growth of the India home healthcare market during the forecast
period.
Increasing
Prevalence of Chronic Diseases
The increasing
prevalence of chronic diseases in India is one of the key drivers of the India
home healthcare market. Chronic diseases require ongoing management and support,
which can be provided through home healthcare services. As the prevalence of
chronic diseases increases, there is a rising demand for long-term care
services, which is driving the growth of the India home healthcare market. Home
healthcare services can provide cost-effective care for patients with chronic
diseases, as it eliminates the need for hospitalization or frequent visits to a
healthcare facility. This makes home healthcare services an attractive option
for patients with chronic diseases, thereby driving the demand for these
services. Home visits by doctors can range from INR 500 to INR 1,500 per visit,
depending on the location and experience of the doctor.
Advances in
technology are enabling the development of new home healthcare products and services,
such as remote monitoring and telehealth services. These innovations are making
it easier for patients with chronic diseases to receive care at home and are
driving the growth of the India home healthcare market. The rising prevalence
of chronic diseases is also contributing to the increasing healthcare costs in
India. Home healthcare services can help reduce these costs by providing
cost-effective care and reducing the need for hospitalization.
As the elderly
population in India grows, the demand for home healthcare services is likely to
increase. This is because many older patients prefer to receive care at home
rather than in a health facility, and home health services are well-equipped to
meet this need. Such factors are expected to drive the growth of the India home
healthcare market during the forecast period.
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Growing
Awareness and Acceptance of Home Healthcare
Growing
awareness and acceptance of home healthcare is another factor driving the
growth of the India home healthcare market. Home healthcare services offer
patients the convenience of receiving medical care and support in their own
homes, rather than traveling to a healthcare facility. This is particularly
beneficial for patients with mobility issues or those who live far from medical
facilities. In 2020, it is found that 64% of Indian consumers are willing to
use home healthcare services, indicating growing acceptance of these services.
Home healthcare
providers offer a range of medical services, such as nursing care,
physiotherapy, and medical equipment rental. These services are delivered by
qualified professionals and are often of the same quality as those provided in
a healthcare facility.
The Indian
government has recognized the importance of home healthcare services in
providing accessible and affordable healthcare and has introduced policies and
initiatives to promote the growth of the India home healthcare market. In 2016,
the government launched the National Health Policy, which emphasizes the
importance of home healthcare services in providing quality healthcare to
patients.
The development
of technology also promotes home healthcare services, with remote monitoring,
telemedicine, and other digital tools, allowing patients to receive medical
care and support from home. This is particularly beneficial for patients with
chronic conditions who require ongoing monitoring and support. Thus, the India
home healthcare market is expected to growth during the forecast period.
Government
Initiatives to Promote Home Healthcare
The National
Health Policy launched in 2017 by the Government of India recognizes the
importance of home healthcare services in providing affordable and accessible
healthcare to patients. The policy outlines a plan to increase the availability
of home healthcare services and encourages private sector investment in the
healthcare industry.
In 2018, the
government launched Ayushman Bharat, a government-funded health insurance
scheme, which aimed at providing financial protection to vulnerable families in
India. The scheme covers the cost of home healthcare services, making them more
accessible and affordable to patients.
The Digital
India initiative launched by the government aims to promote the use of
technology in healthcare delivery. This has led to the development of
telemedicine and remote monitoring services, which are often used in home
healthcare to provide remote consultations and monitor patient health.
The Startup
India initiative launched by the government aims to promote entrepreneurship
and innovation in various sectors, including healthcare. This has led to the
emergence of several home healthcare startups, which are driving innovation in
the sector and promoting the adoption of new technologies. In 2018, the
government exempted GST on all services provided by a clinical establishment,
including home healthcare services. This exemption has made home healthcare
services more affordable for patients and has led to increased demand for these
services. As all these initiatives are anticipated to drive the growth of the
India home healthcare market during the forecast period.
Recent
Development
- In 2021, Portea
Medical, one of the largest home healthcare providers in India, announced its
acquisition of Health Vista India Private Limited, a Bangalore-based home
healthcare services company. The acquisition was intended to strengthen
Portea's presence in the southern region of India.
- In 2020, Apollo
Hospitals, one of India's largest healthcare providers, announced the launch of
its Apollo Home Health Care division. The new division provides a range of home
healthcare services, including nursing, physiotherapy, and medical equipment
rental.
- In 2018, the
US-based home healthcare company, BAYADA Home Health Care, announced its entry
into the Indian market through a partnership with the Mumbai-based healthcare
provider, Regency Healthcare. The partnership was intended to provide
high-quality, patient-centered care to individuals in their homes.
Market
Segmentation
The India home
healthcare market can be segmented by product type, by services, and region.
based on product type, the market can be segmented into continence care, wound
care, ostomy care, clinical nutrition, respiratory care, equipment &
housekeeping supplies, and others. Based on services, the market can be
segmented into rehabilitation services, pregnancy home care services, nursing
services, and others.
Market Players
Portea Medical, Medwell Ventures Pvt. Ltd., Nightingales Home Health
Services Pvt. Ltd., Apollo Homecare Corp, Care24 Pvt. Ltd., Healthcare at Home
India Pvt. Ltd, Zoctr Health Pvt. Ltd, Healers at Home, India Home Health Care
Pvt. Ltd., and HealthCare Global Enterprises Ltd./India. are some of the
leading players operating in the India home healthcare market.
|
Attribute
|
Details
|
|
Base
Year
|
2023
|
|
Historic
Data
|
2019 – 2022
|
|
Estimated
Year
|
2024
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|
Forecast
Period
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2025 – 2029
|
|
Quantitative
Units
|
Revenue in USD Million, and CAGR for 2018-2023 and 2024-2029
|
|
Report
Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
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Equipment Type
Services
|
|
Regional
scope
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North
India, South India, East India, West India
|
|
Key
companies profiled
|
Portea Medical, Medwell Ventures Pvt. Ltd., Nightingales Home
Health Services Pvt. Ltd., Apollo Homecare Corp, Care24 Pvt. Ltd., Healthcare
at Home India Pvt. Ltd, Zoctr Health Pvt. Ltd, Healers at Home, India Home
Health Care Pvt. Ltd., HealthCare Global Enterprises Ltd./India.
|
|
Customization
scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request)
|
Report Scope:
In this report, the India home healthcare market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
·
India Home Healthcare Market, By Equipment Type:
o Therapeutics
{Home Respiratory Therapy, Insulin Delivery, Home Intravenous Pumps, Home
Dialysis Equipment, Other Therapeutic Equipment} Diagnostic {Diabetic Care
Unit, Blood Pressure Monitors, Multi-Parameters Diagnostics Monitors, Home
Pregnancy and Fertility Kits, Others Self-Monitoring Equipment, Apnea and Sleep
Monitors, Holter Monitors, Heart Rate Meters, Other Diagnostic equipment}
o Mobility
Assist Equipment {Wheelchair, Home Medical Furniture, Walking Assist Devices}
·
India Home Healthcare Market, By Services:
o Skilled
Home Care {Physician/Primary Care, Nursing Care, Physical, Occupational, and/or
Speech Therapy, Nutritional Support, Hospice & Palliative Care, Other
Skilled Home Care Services}
·
India Home Healthcare Market, By Region:
o East
India
o West
India
o North
India
o South
India
Competitive
Landscape
Company
Profiles: Detailed analysis of the major companies present in the India home
healthcare market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
- Detailed
analysis and profiling of additional market players (up to five).
India home
healthcare market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]