
The India home healthcare market size is expected to reach USD 36.1 billion by 2030, expanding at a CAGR of 19.29% from 2023 to 2030, based on a new report by Grand View Research, Inc. The market is being driven by increasing demand for improved healthcare care services, expanding geriatric population, a shift in trend from communicable to chronic diseases, rapid technological improvements, rising disposable income, and demand for cost-effective care services.
Home healthcare is becoming more valuable due to the usage of remote patient monitoring technology such as home infusion pumps, home oxygen, heart rate monitoring devices, and glucose monitoring devices, among others. Medtronic's Guardian Connect System is India's first smart glucose monitoring system. India's leading telehealth providers are investing in remote patient monitoring. To track patient conditions, Apollo Homecare implemented new mobile application-based remote patient monitoring equipment. Remote patient monitoring devices are application-linked devices that work best in the home. These glucose monitoring devices are becoming popular in India.
The Indian government is also looking forward to assisting with home healthcare services and the latest technology. The Government of India started a national digital health program in September 2021 to promote the use of electronic medical data for home healthcare services. The Healthcare Federation of India launched Home Healthcare 2.0 in January 2022, incorporating professional viewpoints on home care and promoting home healthcare services.
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India Home Healthcare Market Report Highlights
- The therapeutic sector dominated the equipment segment during the year 2022. The home respiratory therapy equipment contributed the most to the high revenue share of the therapeutic sector as a result of the high prevalence of chronic diseases such as COPD
- The skilled home care services accounted for a major share in the services segment. Initiatives by home healthcare providers to train nurses, attendants, and physiotherapists are expected to drive the market in India
- The demand for unskilled care services has significantly increased over the years. Local service providers primarily offer caregivers who act as companions to the elderly and assist them in performing daily activities. Various services offered under unskilled homecare include wound dressing, bathing, grooming, and feeding
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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