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.
GrowingGeriatric Population
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.
IncreasingPrevalence of Chronic Diseases
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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GrowingAwareness and Acceptance of Home Healthcare
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 launched 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.
GovernmentInitiatives to Promote Home Healthcare
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, PorteaMedical, one of the largest home healthcare providers in India, announced itsacquisition of Health Vista India Private Limited, a Bangalore-based homehealthcare services company. The acquisition was intended to strengthenPortea's presence in the southern region of India.
- In 2020, ApolloHospitals, one of India's largest healthcare providers, announced the launch ofits Apollo Home Health Care division. The new division provides a range of homehealthcare services, including nursing, physiotherapy, and medical equipmentrental.
- In 2018, theUS-based home healthcare company, BAYADA Home Health Care, announced its entryinto the Indian market through a partnership with the Mumbai-based healthcareprovider, Regency Healthcare. The partnership was intended to providehigh-quality, patient-centered care to individuals in their homes.
MarketSegmentation
Market Players
| Attribute | Details |
| Base Year | 2023 |
| Historic Data | 2019 – 2022 |
| Estimated Year | 2024 |
| Forecast Period | 2025 – 2029 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2023 and 2024-2029 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Equipment Type Services |
| Regional scope | 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) |
