India Home Healthcare Industry Overview
The India home healthcare market size was valued at USD 8.8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 19.29% from 2023 to 2030. The increasing need for better quality postoperative & primary care, advancement in technologies, rising disposable income, the shift of trend from communicable to lifestyle diseases, and the increasing availability of improved home care services with the technology-enabled platform are expected to drive the market growth.
The growing geriatric population & dependency ratio in India is expected to drive the demand for home healthcare. According to the Economic and Social Commission for Asia and the Pacific, the aging population of India is expected to reach 298 million by 2051, accounting for 17% of the national population. With the introduction of advanced home healthcare services in the country, high-quality healthcare can now be delivered in the comfort of one's own home.
Gather more insights about the market drivers, restraints, and growth of the India Home Healthcare Market
The rising prevalence of chronic diseases among the elderly, combined with the need for better primary and postoperative care, is expected to drive the country's home care services market. According to Union History's aging study of India, approximately 70% of seniors in India have chronic diseases. Such a population necessitates the use of nursing homes, hospices, and home healthcare services.
With the help of home healthcare services, patients can save 10% to 25% on their overall medical treatment costs. Modern networking has enabled physicians to access patient data from remote locations and provide immediate consultation. For Instance, staying in an ICU in a hospital can cost between USD 450 and USD 650 per day, whereas setting up an ICU facility at home with equipment and medical expertise can cost between USD 95 and USD 125 per day.
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India Home Healthcare Industry Segmentation
Grand View Research has segmented the India home healthcare market based on equipment and services:
Equipment Outlook (Revenue, USD Million, 2017 - 2030)
- Therapeutic
- Diagnostic
- Mobility Assist Equipment
Services Outlook (Revenue, USD Million, 2017 - 2030)
- Skilled Home Care
- Unskilled Home Care
Market Share Insights:
January 2022: Human Life Management, a Japanese home medical care provider, acquired Care24 to expand its medical service capabilities in India.
Key Companies profiled:
Some prominent players in the India Home Healthcare Industry include
- Apollo Homecare
- Portea Medical
- India Home Health Care
- Healthcare atHome
- Care24
- Nightingales Home Health Services
- Bharat Home Medicare
- Grand World Elder Care
- Medfind
- Swarg Community Care
- Suburban Diagnostics
Order a free sample PDF of the India Home Healthcare Market Intelligence Study, published by Grand View Research.
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