Rapidly growing India’s health market

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Due to rising cost of hospitalization, due to the rapidly growing elderly population and the need to focus on personal care, the healthcare (home health care) service sector provided at home in the country has increased rapidly, There is a lot of increase in the number of years.

Narasimha Jayakumar, Chief Executive Officer of Nightingale’s Home Health Services told IANS: “The home healthcare sector is growing in India and we are expecting to reach $ 6 billion (Rs 40,000 crore) by 2020 from the 2 billion dollar market opportunity of 2014. “

The similar opinion expressed Alok Roy, Chairman of Medica Group of Hospital. He said that there is a special possibility in the Indian market, although it is still in the initial stage. Roy recently introduced Homecare services.

He said, “Indian market is currently estimated to be worth $ 3 billion per year and it is growing at more than 20 percent.”

Roy told IANS: “There is tremendous growth in the country’s home healthcare market due to the increase in the elderly population. In the coming years, the market for domestic health services is set to double in India.”

According to Vivek Srivastava, co-founder, and chief executive officer of Healthcare at Home, in the last three-four years, the total homecare market is growing at a combined annual growth rate (CAGR) of 40 percent. Cost competitiveness of the health services offered at home depends mainly on their demand.

Mahesh Joshi, Chief Executive Officer of Apollo Homecare, told IANS, “Homecare is building land in India as a concept and due to this it is clinical and social .. And this is definitely a 30 percent limit As it is cheap, because it does not have the infrastructure and the other is the upper cost. Apart from this, there is no need to take a leave from the family member’s car, which is extra saving. “

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