India Care Services Market Size Worth $88.1 Billion By 2030

India Care Services Market Growth & Trends

The India care services market size is expected to reach USD 88.1 billion by 2030 expanding at a CAGR of 14.70%, based on a new report by Grand View Research. With increased awareness and favorable housing schemes, more elderly people are acquiring houses in senior living communities that provide various types of care services. Thus, the market is likely to be driven by the growing importance of such care services and the growing demand for these facilities across the country.

The reimbursement situation in the country is improving, as people are opting for post-hospitalization and follow-up treatments at home, owing to lower treatment costs. Chemotherapy, Chronic Obstructive Pulmonary Disease (COPD), hepatitis, gastroenteritis, and fever management are among the home healthcare therapies approved by insurance providers propelling the market growth.

Home healthcare services are gaining increasing importance in India due to their convenience & cost-effectiveness of home healthcare services. Patients can save up to 10% to 25% from their overall medical treatment costs by opting for home healthcare services. Modern-age networking has provided physicians with access to patient data from remote locations and the ability to provide immediate consultation. The majority of hospice & sullied nursing providers have started teleconsultation as well.

The COVID-19 pandemic further boosted telehealth services as it was the only option during the pandemic restrictions and a safe one to avoiding avoid the risk of infection at the hospitals. These services are reducing hospitalization time for patients, and saving costs for them, especially for long-term care. 

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India Care Services Market Report Highlights

• The post-acute care segment held the largest market share in 2022. This can be attributed to the technological advancements in healthcare, the cost-effectiveness of home-based healthcare, and the high burden of patients on hospitals in India

• By Region, West India has the highest market share in 2022, due to the high demand for care services in the west region as a result of the higher geriatric population in the particular region & increased attention by the key players towards the west region

• North Region is expected to witness the highest CAGR during the forecast period. This can be attributed to the better accessibility to quality care services with the presence of key players & better insurance coverage in the north region

• Key players in the market are expanding their services within India & investing in developing and adopting advanced technology. For Instance, In March 2020, Portea Medical and Verloop worked with the Government of Goa to develop a chatbot, Cobot-19. The chatbot was designed for providing information to the citizens and to help raise awareness about coronavirus

India Care Services Market Segmentation

Grand View Research has segmented the India care services market based on type & region:

India Care Services Type Outlook (Revenue, USD Million, 2017 - 2030)

• Skilled Nursing Facility

• Assisted Living Facility

• Hospice & Palliative Care

• Post-Acute Care

India Care Services Regional Outlook (Revenue, USD Million, 2017 - 2030)

• Central India

• North India

• West India

• East India

• Northeast India

• South India

List of Key Players of India Care Services Market

• 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