06 Jun 2018
Rising ageing population, high hospitalization bills and need for personal medical care costs is fueling rapid growth in home health care services sector in India.
"The home healthcare sector in India is burgeoning and is expected to reach $6 billion (Rs 40,000 crore) by 2020 from a $2 billion market opportunity in 2014," Nightingales Home Health Services Chief Executive Officer Narasimha Jayakumar told IANS.
Chairman of Medica Group of Hospitals, Alok Roy, recently launched home care services. He said that the home healthcare services market is expected to double in the coming years as India is witnessing a tremendous rise in the ageing population.
Roy said patients end up saving 20-50 percent cost as compared to regular hospital treatment depending upon the services taken.
"Homecare as a concept is gaining ground in India and the reasons are clinical and societal... it definitely works out cheaper to the extent of 30 per cent as compared to the hospital cost as there is no infrastructure and other overheads. This apart, the cost of a family member needing to stay off from work is an additional saving," Apollo Homecare CEO Mahesh Joshi told IANS.