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By 2020 India’s home healthcare market to grow to US$ 6.2 billion !

By 2020 India’s home healthcare market to grow to US$ 6.2 billion !

With fast changing healthcare trends, the home healthcare concept is fast catching up in India. Cashing in on this new concept of providing healthcare to the customers at their door steps, some healthcare service providing companies like Nightingale Home Health Services are venturing into the Indian markets to grab the opportunity.

According to Dr. Swetha Choudhary, Head, Medical Products and Services of Nightingales Home Health Services, the specialised and one-on-one care concept is fast catching up and this has given the scope for the healthcare markets to grow by leaps and bounds. “With vast growth potential in the home healthcare sector, we are expecting that in India this sector has the potential to grow rapidly. It is estimated that in the next one year, this sector is expected to touch US$ 6.2 billion,” observed Dr Choudhary.

Experts felt that with growing pharma, medical devices and hospital industry, India’s healthcare industry is fast changing and adopting new trends to meet the growing healthcare demands of its customers. In view of this, the home healthcare sector is expected to change the complete landscape of Indian healthcare.

“Aging population, rising customer demand and increasing incidence of chronic diseases are all expected to drive the healthcare industry. Taking this as an advantage, some of the healthcare service providers are developing innovative concepts to reach out to the customers and trying their best to be ahead among their competitors,” observed Dr Sharadha, analyst on Healthcare industry in Hyderabad. 

For instance, the Nightingales Home Health Services, a Medwell Ventures company, has come out with a concept of specialty-led home healthcare and is fast aligning itself to market demands.

The company as part of its home healthcare services is providing various curative treatments like rehabilitation and physiotherapy, palliative care for the elderly, chronic care plans for patients with lifestyle diseases, and specialty services like intensive care to the customers in Hyderabad. “The need of the hour is to prioritize and personalize healthcare delivery in a cost effective manner. It will be only possible when existing healthcare institutions streamline their efforts in dispensing care in a cost effective manner facilitating best outcome for patients by collaborating with home health are providers using the right combination of technology to boost the medical system of the country,” opined Dr. Sweta Choudhary.

Reference: Pharmabiz

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