India Home Healthcare Market to be dominated by Skilled Nursing through 2029
India home healthcare market is expected to grow
during the forecast period due to the increasing awareness of the benefits of
home healthcare.
According to TechSci Research report, “India Home
Healthcare Market - By Region, Competition, Forecast and Opportunities, 2029”,
the India home healthcare market is anticipated to grow at an impressive rate during
the forecast period. This can be ascribed to the rising demand for medical
benefits such as managing health issues, including chronic diseases, post
operative care, elderly care, palliative care, mental health along with growing
preference for personalized healthcare among people. Additionally, rapid
advances in science and technology, increasing healthcare costs, changes in
food laws affecting label and product claims, burgeoning aging population, and
rising interest in attaining wellness through diet will escalate the growth of
the India home healthcare market in coming years. Besides, the emergence of new
remote patient monitoring technology is also gaining popularity in the India
home healthcare market. This technology allows healthcare providers to monitor
patient health remotely, allowing for more proactive care and early
intervention, which, in turn, will further support the growth of the India home
healthcare market during the forecast period.
However, the regulation of dietary supplements in Canada
can be complex. The infrastructure for home healthcare in India is still in the
early stages of development, and there are challenges related to
transportation, communication, and technology that can slow down the growth of
the India home healthcare market during the forecast period. Similarly, there
is a shortage of skilled healthcare workers, such as nurses and therapists, in
India. This can limit the availability of home healthcare services, which, in
turn, may hamper the growth of the India home healthcare market during the
forecast period. Also, insurance coverage for home healthcare services in India
is limited, which can make it difficult for patients to access these services
and can further restrict the growth of the India home healthcare market.
The India home healthcare market can be segmented
into equipment type, services, and region.
Based on equipment type, the India home healthcare
market can be segmented into therapeutics (home respiratory therapy, insulin
delivery, home intravenous pumps, home dialysis equipment, and other
therapeutic equipment), diagnostics (diabetic care unit, blood pressure
monitors, multi-parameter diagnostic monitors, home pregnancy and fertility
kits, other self-monitoring equipment, apnea and sleep monitors, holter
monitors, heart rate meters, and other diagnostic equipment), and mobility
assist equipment (wheelchair, home medical furniture, and walking assist
devices). The diagnostic segment dominated the market in 2022 and is expected
to continue maintaining its dominance during the forecast period. This can be
ascribed to increasing growth in the coming years due to the rising demand for
home healthcare services in India. The increasing prevalence of chronic
diseases, the aging population, and the growing awareness and acceptance of
home healthcare are the driving factors of the India home healthcare
market.
Based on service type, the market can be segmented
into skilled home care (physician/primary care, nursing care, physical,
occupational, and/or speech therapy, nutritional support, hospice &
palliative care, and other skilled home care services) and unskilled home care.
The skilled nursing service segment is expected to dominate the market during
the forecast period on account of the increasing demand for nursing care for
elderly and chronically ill patients, as well as the growing availability of
skilled nursing services in the home setting.
Major companies operating in the India home
healthcare market are:
Recent Development
- In 2019,
Medlife, a leading online pharmacy and healthcare platform, acquired the home
healthcare services provider, EClinic24/7. The acquisition was aimed at
strengthening Medlife's presence in the home healthcare market and expanding
its service offerings.
- 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 rentals.
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“The India home healthcare is expected to dominate
the market during the forecast period due to the rising demand for in-house
treatment with medical benefits along with growing geriatric population across
the country. Furthermore, the trend of convenient medical facilities is
growing, particularly among individuals with in-house treatment facilities,
which is cost-efficient and time-saving, thereby driving the growth of the
India home healthcare market. Besides, increasing concerns about healthy
lifestyles and increasing expenditure on health and wellness are expected to
create lucrative opportunities for the market growth” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“India Home Healthcare Market By Equipment Type
(Therapeutics {Home Respiratory Therapy, Insulin Delivery, Home Intravenous
Pumps, Home Dialysis Equipment, and Other Therapeutic Equipment}, Diagnostics
{Diabetic Care Unit, Blood Pressure Monitors, Multi-Parameter Diagnostic
Monitors, Home Pregnancy and Fertility Kits, Other Self-Monitoring Equipment,
Apnea and Sleep Monitors, Holter Monitors, Heart Rate Meters, and Other Diagnostic
Equipment}, and Mobility Assist Equipment {Wheelchair, Home Medical Furniture,
and Walking Assist Devices}), By Services (Skilled Home Care {Physician/Primary
Care, Nursing Care, Physical, Occupational, and/or Speech Therapy, Nutritional
Support, Hospice & Palliative Care, and Other Skilled Home Care Services},
Unskilled Home Care), and By Region, Competition, Forecast, and Opportunities,
2029”, has evaluated the future growth potential of the India home healthcare
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the India home healthcare
market.
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