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.
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.