GVR Report cover India Care Services Market Size, Share & Trends Report

India Care Services Market Size, Share & Trends Analysis Report By Type (Skilled Nursing Facility, Assisted Living Facility, Hospital & Palliative Care, Post-acute Care), By Region (West, South, North, East), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-945-3
  • Number of Pages: 108
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Report Overview

The India care services market size was valued at USD 26.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.70% from 2022 to 2030. The rising need for a better quality of care, increasing geriatric population, shift in trend from communicable to chronic diseases, rapid technological advancements, growing disposable income, and demand for cost-effective care services are likely to drive the market during the forecast period. According to a report of the technical group on population projections for India and states, India had 138 million elderly persons in 2021. According to joint research by HelpAge India and the UN, the geriatric population size is expected to reach 173 million by 2026. A rise in the geriatric population has increased the demand for hospice, skilled nursing facilities, assisted living facilities, and other healthcare facilities.

India care services market size, by type, 2020 - 2030 (USD Billion)

Increasing awareness and growing disposable income have enabled geriatric individuals to purchase homes in senior living societies with various types of care services. The government of India is also playing a major role in promoting care services in India. The National Health Policy 2017 targets 2.5% of the GDP for healthcare expenditure to encourage the development of healthcare services in India. Such initiatives are expected to provide considerable opportunities for care services in India. In September 2021, the Government of India launched a national digital health mission to promote the use of electronic medical records for home healthcare, nursing home homes, and hospice, among others.

The use of remote patient monitoring technologies-such as home infusion pumps, home oxygen, heart rate monitoring devices, and glucose monitoring devices, among others-is making home healthcare valuable. The Guardian Connect System, by Medtronic, is the first smart glucose monitoring system in India. The trend of using artificial intelligence for healthcare is growing in India. Artificial intelligence is improving the quality of services at homes, nursing homes, hospices, etc.

COVID-19 India Care Services Market Impact: 12.3% growth from 2020 to 2021

Pandemic Impact

Post COVID Outlook

The COVID-19 pandemic resulted in reduced occupancy at the care services facility in India due to the fear of infection & restrictions on new admission. The pandemic also worsened the staffing crisis in India, with very low availability of nurses & physicians at care service facilities compared to the demand.

Improving government initiatives for elderly care, post the COVID-19 pandemic. For instance, in June 2021, the Department of Social Justice launched a SAGE (Seniorcare Aging Growth Engine) project for investing in start-ups providing elderly care. Around USD 3.2 million were allocated for this project in 2021.

The COVID-19 pandemic also led to improvement in insurance coverage for in-home care services. Private insurance carriers have expanded reimbursement coverage for in-home treatment. For instance, ICICI Lombard General Insurance added certain COVID-19 treatment-related benefits, including in-home care, in June 2020.

Post pandemic, post-acute care services segment is expected to witness higher demand. The high cost of inpatient care, risk of infections due to reduced immunity post-surgery, and high rate of improvement at home are leading to patients opting for care at home in the country.

 

The scope for care services in India is expanding with the expansion of top service providers across India. The key players in the market are expanding the areas of services. For instance, HealthCare at Home received an equity investment from Quadria Capital, a private equity firm that focuses on the healthcare sector. The company has served over 400,000 patients and is present in over 40 Indian cities.

Type Insights

Based on types, the care services market in India is segmented into skilled nursing facility, hospice & palliative care, assisted living facility, and post-acute care. The hospice & palliative care segment held the largest market share in 2021. This is ascribed to the rising prevalence of chronic conditions, a decrease in aversion to living in assisted living facilities, government initiatives for elderly care, and improvements in senior living infrastructure.

Post-acute care segment is expected to witness the highest CAGR during the forecast period. Patients suffering from a significant injury, surgery, or serious disorders get rehabilitation and treatment at post-acute care institutions. Inpatient rehabilitation, skilled nursing, and other sorts of post-hospitalization or postsurgical treatments are included in these services. This is expected to be driven by the high frequency of catastrophic injuries and road accidents, increased demand for home healthcare procedures, and growth in disposable income.

The assisted living facilities segment is expected to grow at a significant rate in India over the coming years. The increasing geriatric population with chronic disorders, acceptance of elderly care services, and government initiatives supporting the well-being of the elderly are expected to drive the market. The Senior Citizen Welfare Fund, a national program for the healthcare of the elderly, and Pradhan Mantri Jan Arogya Yojana by the government are increasing the access to care services for the elderly population in India. 

Region Insights

Based on region, the market is broadly categorized into Central, North, West, East, Northeast, and South. The Western area of India includes the states and union territories of Maharashtra, Gujarat, Goa, Diu & Daman, and Dadra & Nagar Haveli respectively. In 2021, the West Region accounted for the highest market share. This can be attributed to the presence of multiple service providers, rising urbanization, and the growing rate of nuclear families in the west zone.

North India is expected to have the highest growth during the forecast period. This can be attributed to the presence of retiring destinations suitable for assisted living services in the North. Major cities emerging as retirement-friendly destinations in Northern India include Amritsar, Jaipur, Lucknow, Dehradun, Chandigarh, and NCR. Furthermore, better insurance coverage in top cities of the north region is driving the market growth.

India care services market share, by region, 2021 (%)

The southern region of India includes the states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana along with UTs Andaman & Nicobar, Lakshadweep, and Puducherry. The region has the presence of major established players such as Portea Medical (Bengaluru) and Nightingales Home Health Services (Hyderabad) providing diverse and established home healthcare services for patients in the region.

Key Companies & Market Share Insights

The competitive rivalry in the India care services market is moderate with the presence of several small & big players operating in nursing care, home healthcare, assisted living facilities, and others at a regional level. Providers are investing in technology for transforming services in India. The market is witnessing stiff competition between the local & foreign players for a higher market share. The majority of the foreign players are looking forward to expanding their services in India by acquiring local players. For Instance, in January 2022, Human Life Management-Japan’s home medical care company-acquired Care24 to boost its medical service offerings in India.

Furthermore, the leading players are constantly looking to increase their share in the market through partnerships, mergers & acquisitions, and the introduction of new advanced services. For Instance, in Aug 2021, Healthcare At Home Acquired SuVitas Holistic Healthcare, a transition firm, to reduce the gap between tertiary & home healthcare and facilitate quality chronic care services in India. Some of the prominent players in the India care services market include:

  • Apollo Homecare

  • Portea Medical

  • Nightingales Home Health Services

  • India Home Health Care (IHHC)

  • Grand World Elder Care

  • Healthcare at Home

  • Bharath Home Medicare

  • Care24

  • Medfind

  • Swarg Community care

India Care Services Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 29.4 billion

Revenue forecast in 2030

USD 88.1 billion

Growth Rate

CAGR of 14.70% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, region

Country scope

India

Key companies profiled

Apollo Homecare; Portea Medical; Nightingales Home Health Services; India Home Health Care (IHHC); Grand World Elder Care; Healthcare at Home; Bharath Home Medicare; Care24; Medfind; Swarg Community care

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the India care services market report based on type and region:

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Skilled Nursing Facility

    • Assisted Living Facility

    • Hospice & Palliative Care

    • Post-Acute Care

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • Central India

    • North India

    • West India

    • East India

    • Northeast India

    • South India

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