- Increasing life expectancy leading to a rise in the elderly population and a shift in demand trends towards a more convenience-driven market has led to growth in the home healthcare market in India.
- The outbreak of the COVID-19 pandemic has also positively impacted the home healthcare services in India. The number of inquiries for services such as Chemotherapy at Home, Dialysis at Home has significantly increased within the past 1-2 months.
Increase in the Scale of Operations: Tier 1 city has dominated the market at present, with the current market share standing strong at approximately 76.0%. This market share is expected to decline over the period of the next six years, thus increasing the market share of tier 2 and tier 3 by the year 2025. It must be noted that the decline in the share of tier 1 cities is projected not due to an expected decrease in demand in tier 1 cities, but an increasing demand trend in tier 2 and tier 3 cities due to greater awareness, acceptance among people and increase in the disposable income of people belonging to Tier 2 and Tier 3 cities among other factors.
Primary Growth Drivers: The main reasons for the growth in revenue are factors such as increasing life expectancy, increasing levels of disposable income, shifting demand trends, unhealthy lifestyles of the younger population leading to a higher prevalence of chronic diseases requiring specialized care among others which are increasing the demand for home healthcare services in the country. At present, the total number of the elderly population stands at approximately 132 million in India. India is expected to have 34 Crore people above the age of 60 by 2050. The number of old age people is said to increase from 9% to 20% in the next three decades.
Solving Industry Challenges: The main challenge that the home the healthcare industry is currently facing is the lack of regulatory guidelines in the industry to maintain service quality consistency and to record clinical outcomes. However, with the industry growing at a dynamic pace, it is expected that the regulations will soon be introduced for the home healthcare service providers. With this, the industry will come under the purview of insurance and more people would avail of the home healthcare services in the country.
Technology Oriented Growth: Home the healthcare industry, like other markets today, is working on becoming extensively technology-oriented. For instance, Portea Medical and Medwell Ventures have backed their services with a mobile application. The companies are also making use of monitoring devices and home ICU systems, which enables doctors to continuously monitor the conditions of their patients in real-time, without the need of physically being present at the home of the patient. Further, the players are also investing in extensive marketing and awareness programs through digital platforms in order to maximize their reach.
Analysts at Ken Research in their latest publication “India Home Healthcare Market Outlook to 2025 (Second Edition)– By Patient Profile (Elderly Care, Post Operative Care, Physiotherapy, Palliative Care, Stroke Rehabilitation and Others), By Organized (Subscription and Non-Subscription Model) and Unorganized, By Patient Age Profile and By Major Cities” believe that the Home Healthcare Market in India will expand due to the adoption of greater technology include IoT and AI into the medical services industry, a shift in demand trends, and the increasing geriatric population. The market is expected to register a positive CAGR of 19.2% in terms of revenue during the forecast period FY’2019-FY’2025. The market is further expected to be driven by the increasing competition from new companies entering the market.
Key Segments Covered: –
India Home Healthcare Market, FY’2014-FY’2025
India Home Healthcare Market Segmentation, FY’2019-FY’2025
By Market Structure (Organized and Unorganized)
By Region/Tier (Tier 1, Tier 2and Tier 3 cities)
By Age Group (0-25 Years, 25-40 Years, 40-60 Years and Above 60 Years)
By Profile of Patients (Elderly care, Physiotherapy, Post-Operative Care, Stroke Rehabilitation, Palliative Care and Others)
By Subscription and Non-Recurring Model
Key Target Audience
Private Sector Investors
Healthcare Regulatory Bodies
Government and Industry Associations
Medical Device Companies & Distributors
Pharma Manufacturing and Distribution Companies
Time Period Captured in the Report:
Historical Period – FY’2014-FY’2019
Forecast Period – FY’2020-FY’2025
Portea Medical (Health Vista Pvt Ltd)
India Home Healthcare
Critical Care Unified
Bharath Home Medicare
Key Topics Covered in the Report: –
Healthcare at Home in India
Home-Based Health Care Industry in India
Homecare Providers in India
E-Health Market India
India Insurance Coverage Market Share
India per Capita Expenditure on Health
India per Capita Expenditure on Hospitalization
Organized Home Healthcare Market India
India Home Healthcare Major Investors
Home Healthcare Patients in India
Critical Care at Home in India
Palliative Care Market India
Stroke Rehabilitation Market India
For More Information on the research report, refer to below link: –
Related Reports by Ken Research: –
India Online and Offline Pharmacy Retail Market Outlook to 2025 – By Organized and Unorganized; By Standalone and Hospital based Pharmacy; By Product Category (Prescribed Drugs, OTC Drugs and Non-Pharmaceutical Goods) and Therapeutic Class
Global Home Healthcare Market Outlook to 2025– By Patient Profile (Elderly Care, Rehabilitation, Physiotherapy, Wound Care and Others), By Age Group in Years (Mother and Infant, Below 25, 25-40, 40-65 and 65 & Above) and By Region (USA, Germany, UK, Canada, Japan, Australia, China, India, South Africa, UAE and Others)
India Medical Device Market Outlook to 2023 – by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)
Contact Us: –
Ankur Gupta, Head Marketing & Communications