4 Upcoming Trends for Home Health Care in India
The relentless persistence of the Covid-19 pandemic has changed the face of healthcare as we know it. Arising from the need to keep people as safe as possible, the healthcare industry has witnessed a number of innovations that have helped patients receive the care they need in the comfort of their own homes.
Home health care in India is now a massive space that is poised to grow exponentially in the coming years. Owing to factors such as higher disposable incomes and a rapidly ageing population, the need for home care is certainly not going away anytime soon.
Here are some of the trends we’re expecting to see in the year ahead.
1. A Rising Demand for Home Care
Valued at $5 billion in 2019, the home health care market is expected to grow to approximately $20 billion by 2027. What’s fueling this immense growth?
Quite a few factors, as it turns out. For one, people are simply not interested in extended waiting times at the doctor’s office anymore. “Why would I endure travel and waiting times to go sit in a doctor’s clinic? That’s just not how we live anymore. I’d much rather schedule my teleconsultation while I’m at home” says Aisha Sharma, a New Delhi resident.
The desire for faster consultations, coupled with the tendency to avoid an in-person appointment unless absolutely necessary, is driving demand and the growth of home care services.
2. Investments in Technology
Expect more investments in areas like wearable tech for monitoring purposes.
“We’re going to see more people wearing more devices and monitors to track their conditions, especially for chronic issues like diabetes and heart disease. Already, people who have smart-watches and phones can use their devices to monitor their health progression” says Chiamala Aravamudhan, CEO of c-Soft Technologies.
But there’s a lot more of where that comes from. Healthcare professionals have been advocating for better infrastructure to facilitate smoother consultations.
“We’re expecting to see more funding go towards stronger and faster internet speeds. There’s no way around this, especially when computers, television screens, and mobile devices are coming with higher quality video and sound capabilities.”
3. Investments in Mobility Assistance
With the baby boomer generation entering their 60s across the planet, the healthcare industry is preparing to take care of a growing geriatric population with chronic diseases.
The ageing population will also need greater assistance with mobility and devices that can make their lives easier at home. For example, we’re expecting to see more equipment such as wheelchairs and home medical furniture become more easily available for patients.
4.Expansion of Service Care
For many patients, home care requires a lot more than medical attention and assistance. A significant chunk of the population – especially the elderly – also needs help with day-to-day tasks such as cooking, cleaning, laundry, and companionship which are not covered under skilled care services.
Since these services are witnessing robust growth because of higher demand, we’re expecting to see this segment expand as a direct outcome.
While larger companies like Apollo Healthcare and Health Care at Home (HCAH) are leading with scale, their growth is also encouraging several smaller players and startups in smaller cities and rural towns across India to provide home health care services to local populations.
What other developments in-home care have you seen over the last few months that you would add to this list?