How India Home Healthcare Market is Positioned?
Healthcare is on the biggest markets in India and home healthcare is en route to becoming a strong component of it. The Home Healthcare Market in India, still at its early growth stage is a market of 80-100 players consisting of merely 15-20 major players. The unorganized sector still dominates the market having a market share by revenue of ~%. The market is highly fragmented, thus consisting primarily of unorganized players. There are various services being offered by the firms with their key revenue being contributed from services such as home healthcare, provision of pharmaceuticals and rent/sale of medical devices. The shifting demand trends indicate that apart from services like elderly care, owing to the unhealthy lifestyles of the younger generation, we are also seeing a rise in the demand for services such as physiotherapy, stroke rehabilitation among others.
The home healthcare market has grown at a CAGR of ~ from 2013 to 2018 and is expected to grow at a CAGR of ~ from 2018 to 2023.The major players in the market such as Portea Medical, Apollo HomeCare among others have provided the customers in the healthcare market with the opportunity of saving their time as well money and being attended to right in the comfort of their home. It has been observed that demand of home healthcare services increased in India primarily due to the surge in the prices of advanced medical equipments, the lack of proper medical infrastructure which is insufficient to cater to the needs of the growing population.
The rising demand for homecare services is mainly due to the shift in the preferences from traditional healthcare to home healthcare services will pave the way for this growth.
Future Outlook and Projections in the India Home healthcare Market
The Overall Revenues for the India Home Healthcare Industry is expected to increase from INR ~ Crore in 2018 to INR ~ Crores in 2023, at a positive CAGR of ~ % during the period.
The main reasons for the expected 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 higher prevalence of chronic diseases requiring specialized care are expected to be responsible for this massive growth.
As of now, the market is dominated by private, unorganized players and the trend appears to remain the same for the next 5 years as well, however, the market is expected to witness a nominal decrease in the proportion of unorganized players at an expected rate of ~% per year on average.
Further, it is expected that the market will witness a regulatory reform carried out by the Ministry of Health and family Welfare and home healthcare services will also be brought under the purview of insurance.
Keywords:-
India Healthcare Market
India Healthcare Industry
India Home Healthcare Services Industry
India Home Healthcare Market
Home Healthcare Market In India
Home Healthcare Industry In India
India Home Healthcare Market Overview
India Home Healthcare Market Revenue
India Home Healthcare Market Major Players
India Home Healthcare Industry
India Home Healthcare Industry
India Home Elderly Care Market
India Home Infant care Market
Healthcare Athome Revenue India
India Geriatric Population
E-Health Market India
Healthcare Regulations India
Home Healthcare Regulations India
Key Segments Covered:-
Market Segmentation
By Market Structure (Organized and Unorganized)
By Region/Tier (Tier 1, tier 2and tier 3 cities)
By Age Group (Above 40 years and below 40 years)
By Profile of Patients (Elderly care, physiotherapy, wound care, stroke rehabilitation and others – Infant Care, ICU at home, At home Cancer Therapy, etc)
By Subscription and Recurring Model
Key Target Audience:-
Home Healthcare Service Providers
Hospital Chains
Private Equity/ VC Fund
Health Care Associations
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023
Companies Covered:-
Portea Medical
Healthcare At Home
MedWell Ventures
Care24
CallHealth Services
Apollo HomeCare
India Home Healthcare
Critical Care Unified
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