|
Forecast
Period
|
2025-2029
|
|
Market
Size (2023)
|
710.40
million
|
|
CAGR
(2024-2029)
|
5.65
%
|
|
Fastest
Growing Segment
|
Blood
Pressure Monitors Segment
|
|
Largest
Market
|
North
India
|
Market Overview
India Homecare Medical Equipment Market has valued at USD 710.40 million in 2023 and is anticipated to reach USD 710.40 million by 2029, with a CAGR of 5.65 % during 2024-2029. Homecare medical equipment, also known as
home medical devices or home healthcare equipment, refers to a wide range of
medical tools and devices designed for use by individuals in the comfort of
their own homes. These devices are intended to support medical care, improve
the quality of life, and help patients manage various health conditions and
ailments. Homecare medical equipment is typically prescribed by healthcare
professionals or recommended based on an individual's specific medical needs.
Used to measure a patient's blood pressure, helping to manage hypertension and cardiovascular
conditions. Convert liquid medication into a fine mist for inhalation, commonly
used to treat respiratory conditions like asthma. Continuous Positive Airway
Pressure machines are used to treat sleep apnea by delivering a continuous flow
of air to keep airways open during sleep.
India's aging population is growing, leading to a
higher prevalence of chronic diseases and age-related health issues. Homecare
medical equipment, such as mobility aids and monitoring devices, is in demand
to support the elderly in managing their health. Continuous advancements in
technology have resulted in more accessible, user-friendly, and cost-effective
homecare medical devices. This encourages their adoption by a broader
population. The rising cost of healthcare in India has led individuals and families
to seek cost-effective alternatives, such as managing certain health conditions
at home with the help of medical equipment. Increased awareness about the
importance of early detection and monitoring of health conditions has driven
the demand for homecare medical devices. The need for long-term management of
chronic diseases is boosting the use of homecare medical equipment, including
devices for monitoring blood pressure, glucose levels, and more. The growth of
home care services, including nursing and caregiving, has led to increased
demand for homecare medical equipment to support these services.
Key Market Drivers
Technological Advancements
Many homecare medical devices now feature wireless
connectivity, allowing data to be transmitted to smartphones or computers. This
enables remote monitoring by healthcare providers and facilitates telemedicine
services. Mobile applications are increasingly integrated with homecare medical
equipment. These apps provide real-time data, reminders for medication or
testing, and user-friendly interfaces for patients and caregivers. IoT
technology enables seamless communication between medical devices and other connected
devices, creating a network of interconnected healthcare tools. This can
enhance patient care and remote monitoring capabilities. Technological
advancements have enabled telemedicine and remote patient monitoring. Patients
can consult with healthcare professionals and share vital sign data without
leaving their homes.
Wearable technology, such as smartwatches and
fitness trackers, can now monitor various health parameters, including heart
rate, activity levels, sleep patterns, and more. These devices offer valuable
health insights for users. Smart homecare devices include voice-activated
assistants (e.g., Amazon Alexa or Google Home) that can help users manage their
healthcare routines, set reminders, and even receive medication instructions.
Artificial intelligence (AI) and machine learning algorithms are being used to analyze
data from medical devices. This can provide predictive analytics for early
disease detection and personalized treatment recommendations. These devices can
organize and dispense medications at the prescribed times, helping patients
manage their medication regimens more effectively. Some models can send alerts
to caregivers or healthcare providers if doses are missed.
Advanced telehealth platforms offer a comprehensive
suite of tools, including video conferencing, secure messaging, and data
sharing, to facilitate remote consultations between patients and healthcare
providers. Many homecare medical devices are becoming smaller and more
portable, making them more convenient for patients to use at home or while on
the go. Devices with biometric sensors, such as pulse oximeters and ECG
monitors, are becoming more accurate and user-friendly, allowing patients to
monitor their vital signs with ease. Technological solutions, such as smart
pill dispensers and medication reminder apps, help patients adhere to their
medication regimens more effectively. 3D printing technology is being used to
create custom prosthetics and orthotics, allowing for a more personalized and
comfortable fit for patients. This factor will help in the development of the
India Homecare Medical Equipment Market.
Increasing Awareness and Education
Awareness campaigns and educational initiatives
help individuals understand the importance of monitoring and managing their
health conditions. People become more informed about the risks of various
diseases, which can lead to a proactive approach to healthcare. Education about
the benefits of early detection and prevention of health conditions encourages
individuals to use homecare medical equipment for regular monitoring. Catching
health issues at an early stage often leads to more successful treatment outcomes.
Many individuals, especially those with chronic diseases like diabetes,
hypertension, and heart disease, receive education on the value of homecare
medical equipment for ongoing monitoring and management. They learn how to use
devices like glucometers and blood pressure monitors to track their condition
and make necessary lifestyle adjustments. Educational efforts empower patients
to take control of their health. When individuals understand how to use
homecare medical equipment and interpret the data it provides, they become
active participants in their healthcare, which can lead to improved outcomes.
Education regarding telemedicine services and
remote monitoring tools encourages patients to embrace these technologies and
use homecare medical equipment for virtual consultations with healthcare
providers. This access to healthcare professionals enhances the demand for
these devices. Awareness campaigns often emphasize the importance of lifestyle
changes, such as maintaining a healthy diet and exercising regularly. Homecare
medical equipment can complement these efforts by providing data on the impact
of such lifestyle changes on health parameters. Understanding the significance
of preventive healthcare measures prompts individuals to invest in homecare
medical equipment for regular check-ups and early intervention. Healthcare
providers and organizations offer educational materials and resources to
patients, explaining how to use specific homecare medical equipment
effectively. These materials are essential in ensuring proper device usage.
Education and awareness efforts focus on the unique
healthcare needs of aging populations. Seniors are educated on the benefits of
using homecare medical equipment to maintain their health and independence.
Education also extends to caregivers who are responsible for using and
maintaining homecare medical equipment for their patients or loved ones.
Educational programs within communities and local healthcare centers can
promote the use of homecare medical equipment and raise awareness about
specific diseases and their management. National and regional health campaigns
often promote health awareness and provide information on the availability and
use of homecare medical equipment. This factor will pace up the demand of the
India Homecare Medical Equipment Market.
Increasing Aging Population
Elderly individuals often have more healthcare
needs as they age. They may require regular monitoring of chronic conditions,
such as hypertension, diabetes, and heart disease, which necessitates the use
of homecare medical devices. Aging can lead to mobility challenges, making it
difficult for seniors to visit healthcare facilities regularly. Homecare
medical equipment, such as mobility aids and monitoring devices, allows them to
receive care in the comfort of their homes. Many seniors manage chronic diseases
that require ongoing monitoring. Homecare equipment helps them keep track of
vital signs, medication adherence, and lifestyle changes, allowing for better
management of their health conditions. Falls are a common concern among the
elderly, and homecare medical equipment like bed alarms, fall detection
devices, and grab bars can help prevent accidents and injuries.
Homecare medical equipment enables seniors to
maintain their independence and quality of life. Devices like walking aids,
home safety equipment, and personal care aids allow them to perform daily
activities more comfortably and safely. The aging population benefits from
telemedicine and remote monitoring technologies, which use homecare medical
equipment to connect with healthcare providers. This eliminates the need for
frequent in-person visits and ensures ongoing care. Aging individuals often
prefer to receive care in the familiar and comfortable environment of their own
homes. Homecare medical equipment makes it possible to provide necessary care
without moving to healthcare facilities or assisted living facilities. Homecare
equipment assists caregivers, including family members and professional
caregivers, in providing better care for the elderly. This support is essential
as the aging population grows.
Many seniors experience chronic pain due to
conditions like arthritis. Homecare medical equipment, such as heat pads or
TENS units, can offer pain relief and improve their overall well-being. The
elderly often require specialized medical devices, such as oxygen
concentrators, home hospital beds, and pressure-relief mattresses. Homecare
equipment companies provide these specialized devices to meet the unique needs
of seniors. Preventive measures, such as regular health check-ups and
screenings, are essential for the elderly. Homecare medical equipment supports
these preventive efforts, enabling early detection and intervention. Seniors
increasingly prefer aging in place, staying in their homes for as long as
possible. Homecare medical equipment contributes to making this choice feasible
by addressing their healthcare needs. This factor will accelerate the demand of
the India Homecare Medical Equipment Market.
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Key Market Challenges
Affordability and Accessibility
Many people in India, particularly in lower-income
segments, face financial barriers when it comes to purchasing homecare medical
equipment. These devices can be costly, and not everyone can afford them. This
affordability challenge can limit access to essential healthcare tools for many
individuals. In rural and remote areas of India, the availability of homecare
medical equipment can be limited. Access to specialized stores or healthcare
facilities is often challenging, which can result in reduced access to medical
devices for residents of these areas. Limited health insurance coverage for
homecare medical equipment can be a barrier. Even when individuals have
insurance, coverage for such devices may be partial or nonexistent, leaving
patients to bear a significant portion of the cost. While some government
initiatives aim to improve healthcare accessibility and affordability, these
efforts may not always reach all segments of the population, especially those
in underserved regions. In an attempt to reduce costs, some individuals may
turn to low-cost or unregulated homecare medical equipment, which may lack the
necessary quality and safety standards. This poses a risk to users' health.
Counterfeit and Substandard Products
Counterfeit and substandard homecare medical
equipment may not meet safety and quality standards. Patients using such
products are at risk of harm, as inaccurate readings or device malfunctions can
lead to incorrect medical decisions and compromised health. Substandard
equipment may not function as intended, leading to ineffective disease
management. Patients may not receive accurate data, making it difficult for
healthcare providers to assess their condition and make appropriate treatment
recommendations. Counterfeit or substandard diagnostic devices can lead to
misdiagnosis and mistreatment. Patients may receive inappropriate medications
or interventions based on inaccurate test results. Patients who unknowingly
purchase counterfeit or substandard homecare medical equipment may waste their
resources on ineffective or even harmful products. This can have financial and
health implications. The presence of counterfeit and substandard products can
damage the reputation of legitimate manufacturers and sellers. Patients who
have a negative experience with these products may lose trust in the entire
market.
Key Market Trends
E-commerce and Online Retail
E-commerce
platforms and online retailers provided a convenient way for consumers to
access a wide range of homecare medical equipment from the comfort of their
homes. This accessibility was particularly beneficial for those living in
remote areas or individuals with limited mobility. Online platforms offered a
diverse selection of homecare medical equipment, ranging from basic monitoring
devices like blood pressure monitors and glucose meters to more specialized equipment,
such as respiratory aids and mobility devices. Online retailers often provide
transparent pricing and detailed product information, allowing consumers to
compare different brands and models to make informed purchasing decisions.
Shoppers could access customer reviews and ratings for products, which helped
them gain insights into the performance and quality of homecare equipment. This
information influenced purchasing choices. E-commerce offered the convenience
of 24/7 shopping, making it easy for individuals to purchase homecare medical equipment
at any time that suited them. Online retailers typically provide home delivery
services, ensuring that customers receive their purchases at their doorstep.
This was particularly valuable for bulky or heavy equipment. The availability
of digital payment options facilitated secure and convenient transactions for
consumers, further enhancing the online shopping experience.
Segmental Insights
Type Insights
In 2023, the India Homecare
Medical Equipment Market largest share was held by Walking Assist Devices
segment and is predicted to continue expanding over the coming years. India, like many other
countries, has an aging population. The elderly population often experiences
mobility issues, and walking assist devices such as canes, walkers, and
rollators are in high demand to help them maintain mobility and independence.
Mobility impairments due to conditions like arthritis, joint problems, and
post-surgery recovery are common in India. Walking assist devices provide
crucial support to individuals with these conditions. An increase in
lifestyle-related diseases, such as obesity and diabetes, has led to a rise in
conditions that affect mobility. People with conditions like diabetes may need
walking assist devices due to neuropathy or circulatory issues. As urbanization
continues in India, there is a growing need for walking assist devices in urban
areas where people may have to walk longer distances and face challenges
related to physical disabilities or injuries. There has been a significant
increase in awareness and acceptance of walking assist devices among the Indian
population. People are more willing to use these devices to improve their
mobility and overall quality of life.
Distribution Channel
Insights
In 2023, the India Homecare
Medical Equipment Market largest share was held by Retail Pharmacies segment in the forecast
period and is predicted to continue expanding over the coming years. Retail pharmacies are widely distributed
across India, even in remote areas. This accessibility makes them a convenient
source for people to purchase homecare medical equipment, especially for those
who may not have easy access to hospitals or specialized medical equipment
stores. Retail pharmacies are often seen as trusted sources of healthcare
products and advice. Customers may have an established relationship with their
local pharmacy and trust the products and services they offer. Pharmacists are
healthcare professionals who can provide guidance on the selection and use of
homecare medical equipment. Patients often consult pharmacists for advice on
products like blood pressure monitors, glucose meters, and other medical
devices. Some homecare medical equipment, such as certain types of mobility
aids or respiratory devices, may require a prescription. Retail pharmacies are
equipped to handle prescription-based sales and provide patients with the
necessary equipment after a doctor's recommendation. Retail pharmacies
typically offer a wide range of healthcare and medical products, including
over-the-counter medications, supplements, and homecare equipment. This
assortment makes them a convenient one-stop shop for healthcare needs.
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Regional Insights
The North India region dominates the India Homecare
Medical Equipment Market in 2023. North
India is more densely populated than many other regions of the country. With a
larger population, there is a greater demand for healthcare services and
medical equipment. The northern states, such as Delhi, Punjab, Haryana, and
Uttar Pradesh, are among the more economically active regions in India. Higher
economic activity often correlates with increased healthcare spending,
including investments in homecare medical equipment. North India has relatively
better healthcare infrastructure, including hospitals, clinics, and healthcare
providers, which often lead to increased demand for homecare medical equipment
for post-hospitalization care and chronic disease management. Northern cities
like Delhi, Gurgaon, and Noida are rapidly urbanizing, and urban areas tend to
have better access to healthcare services and products, including homecare
medical equipment. There is a relatively high level of health awareness in
North India, with more people seeking healthcare services and products to
improve their well-being.
Recent Developments
- In June 2023, OMRON
Healthcare Co., Ltd., based in Kyoto, Japan, has unveiled its plan to build a
manufacturing facility at ORIGINS by Mahindra in Chennai, located in the Indian
state of Tamil Nadu. This factory will commence the production of blood pressure
monitors starting in March 2025. Before this, the Company formally signed a
memorandum for establishing the factory, with the presence of Mr. M.K. Stalin,
the Chief Minister of the Tamil Nadu State Government. India, due to its
rapidly growing economy and increasing population, is experiencing a surge in
lifestyle-related diseases. Among these, hypertension is a prevalent
contributor to cerebro-cardiovascular conditions like strokes and heart
failures. Regular monitoring of blood pressure at home is deemed crucial for
effective hypertension management. The establishment of this manufacturing
facility and the establishment of a reliable distribution network represent the
Company's commitment to make blood pressure monitors accessible to a wider
population in India.
- In September 2023, Merago
Inc., a fintech healthcare company based in Mountain View, California, has
unveiled its expansion into the Indian market by integrating home healthcare
services into its platform. In collaboration with Portea Medical, a Bengaluru-headquartered
provider of out-of-hospital healthcare services, Merago aims to enhance its
offerings. Recently, the company introduced the Merago Digital Healthcare
Network, a cutting-edge personal healthcare management system designed for
consumers. Portea Medical specializes in leveraging technology to create
patient-focused solutions, including the delivery of complex in-home medical
procedures such as chemotherapy and dialysis. Their technology-driven services
effectively address the healthcare needs of individuals outside of traditional
hospital settings.
Key
Market Players
- India Medtronic Pvt Ltd.
- Johnson & Johnson
Medical India Limited
- Abbott India Limited
- Becton, Dickinson Private
Limited
- Roche Diagnostics India
limited.
- Wipro GE Healthcare Pvt.
Ltd.
- Mindray Medical India Pvt
Ltd.
- Siemens India, Philips
India Ltd.
- Hitachi Medical Systems
India
- Stryker India Private
Limited
|
By Type
|
By Distribution Channel
|
By Region
|
- Therapeutic Equipment
- Patient Monitoring Equipment
- Mobility Aids & Patient Support Equipment
- Others
|
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
|
- North India
- South India
- East India
- West India
|
Report Scope:
In this report, the India Homecare Medical
Equipment Market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- India Homecare Medical Equipment Market, By Type:
o Therapeutic Equipment
§ Home Respiratory Therapy Equipment
§ Home IV Equipment
§ Home Dialysis Equipment
§ Others
o Patient Monitoring Equipment
§ Blood Glucose Monitors
§ Blood Pressure Monitors
§ Holter Monitors
§ Peak Flow Meters
§ Apnea Monitors
§ Heart Rate Monitors
§ Baby Monitors
§ Electronic Thermometers
§ Others
o Mobility Aids & Patient Support Equipment
§ Wheelchairs
§ Walking Assist Devices
§ Bathroom Safety Equipment
§ Others
o Others
- India Homecare Medical
Equipment Market, By Distribution Channel:
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
o Others
- India Homecare Medical Equipment Market, By Region:
o North India
o
South
India
o
East
India
o
West
India
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the India
Homecare Medical Equipment Market.
Available Customizations:
India Homecare Medical Equipment Market
report with the given market data, Tech Sci 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 Homecare Medical Equipment 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]