Indian Home Healthcare Market Analysis

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  • Type: Service area
  • Published : April 2021
  • Region: Asia
  • Country: India
  • Report ID : 1260

  • Format: PPT, PDF

Indian Home Healthcare Market Segmented by Therapeutic (Home Respiratory Therapy Environment, Insulin Delivery Devices, Home IV Pumps, Home Dialysis Equipment, Other Therapeutic Equipment) by Diagnostic Homecare (Diabetic Care Unit, BP Monitors, Multipara Diagnostic Monitors, Other Self- Monitoring Equipment, Apnea and Sleep, Holter Monitors, Heart Rate Meters, Other Diagnostic Equipment) by Mobility Assist (Wheel Chair, Home Medical Furniture, Walking Assist Device, Middle-East and Africa Market Analysis, South America Market Analysis) Forecast (2019-2028)

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Report Overview

The Indian Home Healthcare market size was valued at USD 5.2 Billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 19.2% from 2019 to 2028.

The increasing incidence of chronic diseases and the need for better primary and postoperative care has enhanced market growth Homecare in India. According to the World Health Organization (WHO), chronic and lifestyle diseases are expected to increase by XX% in India. Due to COVID-19 Pandemic, home healthcare services are considered to be safer and cost-effective alternative to hospital services for non-emergent cases. Home Healthcare in India is growing by 15-19% a year to touch $11-13 billion by 2025 from $5.4 billion.

Market Drivers

To avoid risk of getting infected, lack of personal care, to reduce the unnecessary hospital visits and high hospitalization costs are the major drivers that consumers are looking at home healthcare as the emerging solution. As the prevalence of lifestyle diseases, rising demand for quality and affordable care the need of Home Healthcare has increased. Home Healthcare Provides ICU services at 50% cheaper rate than the hospitals. ICU facility at Home with equipment and medical expertise ranges between Rs 7,500 to Rs 10,000 a day.

Type of Home Healthcare Services

The Home Healthcare market is further segmented by type of service into Physician/Primary Care, Nursing Care, Physical Occupational and Speech Therapy, Nutritional Support, Hospice & Palliative, Other Skilled Homecare Services. Primary care and Nursing care is dominating homecare services covering around XX% of Homecare Market in India.

 

1. Indian Home Healthcare Market Overview………………………………………………
A. Market Size
2. Market Growth Drivers ………………………………………………………………….
A. Advancement of Technologies
B. Increasing Prevalence of lifestyle diseases
C. Rising Demand for quality and affordable care
D. Growing demand for personalized care
E. Rising aging population
3. Home Healthcare Market type of services………………………………………………..
A. Physician/Primary Care
B. Nursing Care
C. Physical Occupational and Speech Therapy
D. Nutritional Support
E. Hospice & Palliative
F. Other Skilled Homecare Services
4. Home Healthcare Market Segmentation………………………………………………..
A. Therapeutic
I. Home Respiratory Therapy Environment
II. Insulin Delivery Devices
III. Home IV Pumps
IV. Home Dialysis Equipment
V. Other Therapeutic Equipment
B. Diagnostic Homecare
I. Diabetic Care Unit
II. BP Monitors
III. Multipara Diagnostic Monitors
IV. Other Self- Monitoring Equipment
V. Apnea and Sleep
VI. Holter Monitors
VII. Heart Rate Meters
VIII. Other Diagnostic Equipment
C. Mobility Assist
I. Wheel Chair
II. Home Medical Furniture
III. Walking Assist Device
IV. Middle-East and Africa Market Analysis
V. South America Market Analysis
5. Home Healthcare Major Products Market Share………………………………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………………………………..
A. Apollo Homecare Company overview, Product & Services, Strategies & Financials
B. Portea Medical Company overview, Product & Services, Strategies & Financials
C. India Home Healthcare Company, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth………………………………………………………
A. New Trends and Development of Home Healthcare market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Equipment:

The market is segmented into therapeutic, diagnostic, and mobility assist. Therapeutic segment is the largest revenue share of over 40% in 2019. It includes equipment such as C-PAP, Bi-PAP, ventilators, and nebulizers.  Koninklijke Philips, IndiaMART InterMESH Ltd., and Healthgenie.in are some of the key distributors of the Nation.

By Therapeutic:

Therapeutic Equipment is segmented into respiratory therapy equipment, insulin delivery devices, IV equipment, wound care products, dialysis equipment, and others. Growing number of elderlies suffering from chronic diseases has given rise to the demand for therapeutics, and the pharmacies.

By Diagnostic:

Diagnostics Equipment has 35% revenue share in 2019 and is expected to register the fastest CAGR over the forecast period. Technologically advanced products that enable accurate and timely diagnosis which includes strapless heart rate monitor, iPhone heart-rate monitor, and TQR heart rate watches to segment growth.

By Mobility Assist:

It includes wheelchairs, home medical furniture, and walking assist devices. It has lucrative rate for increasing incidence of trauma, arthritis and mobility impairments, growing geriatric population, and rising incidence of orthopedic disorders and physical disabilities. The Mobility assist Equipment is contributing XX% to the Home Healthcare.

Top Major Players

The organized home healthcare segment is to reach $300 million, growing by 40% CAGR.. The major key players for Home Care are Portea Medical, Apollo Homecare, Nightingales Healthcare at HOME, Bharath Home Medicare, Care24, MedFind, Swarg Community Care, Suburban Diagnostics. Portea Medical is offering at-home COVID-19 testing services to expand its service offerings. Portea Medical provides geriatric care which includes of physiotherapy, palliative care, primary care, and postoperative care. Portea Medical is fasting Home Healthcare growing by XX%.

 

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
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  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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