Rapid technological improvements among factors driving market growth
India’s home healthcare market size is expected to reach US$36.1 billion by 2030, expanding at a CAGR of 19.27% from 2022, according to a ResearchAndMarkets report released 27 Sept 2022.
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,” said the report “India Home Healthcare Market Size”.
Medtronic’s Guardian Connect System is India’s first smart glucose monitoring system in use in the country. India’s leading telehealth providers are investing in remote patient monitoring, said the report.
To track patient conditions, Apollo Homecare has implemented new mobile application-based remote patient monitoring equipment, the report elaborated with examples.
Remote patient monitoring devices are application-linked devices that work best in the home. These glucose monitoring devices are becoming popular in India.
The Government is also looking forward to assisting with home healthcare services and the latest technology, it noted.
The Government has 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 has launched Home Healthcare 2.0 in January 2022, incorporating professional viewpoints on home care and promoting home healthcare services, said the report.
Companies leading the industry are:
Apollo Homecare
PORTEA MEDICAL
INDIA HOME HEALTHCARE
HealthCare atHOME
CARE24
Nightingales Home Health Services
Bharath Home Medicare
Grand World Elder Care
Medfind
Swarg Community Care
Suburban Diagnostics. fiinews.com
