Navigating the Future: Home Healthcare Trends in 2024 and Beyond The demand for home healthcare services in India has experienced remarkable growth in 2023. According to recent statistics, there has been a substantial increase in the number of individuals opting for homebased medical care
By Meena Ganesh •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
In recent years, the healthcare landscape has undergone a significant transformation, with an emphasis on home healthcare services. The year 2023 witnessed a surge in demand for such services, especially in countries like India, where the healthcare infrastructure faces challenges in meeting the needs of a growing population. Let us look at the trends that have defined home healthcare in 2023 and how technology is shaping the delivery of these essential services.
The demand for home healthcare services in India has experienced remarkable growth in 2023. According to recent statistics, there has been a substantial increase in the number of individuals opting for homebased medical care. This can be attributed to various factors, including the convenience of receiving personalized care in familiar surroundings, the aging population, and the ongoing efforts to enhance healthcare accessibility. The industry is set to reach INR 1,552.64 billion by FY 2027, growing at a CAGR of ~19.50% during the 2022-2027 period.
The increasing acceptance of remote patient monitoring, telehealth consultations, and other technological advancements are expected to contribute to the s ector's growth
Looking ahead to 2024, the home healthcare sector is poised for continued expansion. The increasing acceptance of remote patient monitoring, telehealth consultations, and other technological advancements are expected to contribute to the sector's growth. An estimated 2.5X growth rate is projected for 2025.
LEVERAGING TECHNOLOGY FOR ENHANCED PATIENT CARE:
A key driver behind the growth of home healthcare is the integration of technology, with service providers increasingly incorporating artificial intelligence (AI), voice-activated devices, wearables and Internet of Things (IoT) solutions into their offerings. These innovations play a pivotal role in ensuring better patient care, early detection of health issues, and proactive management of chronic conditions.
AI-POWERED PERSONALIZED CARE: AI algorithms are being employed to analyse patient data and provide personalized care plans. This not only enhances treatment efficacy but also allows for proactive intervention in case of potential health issues.
VOICE-ACTIVATED DEVICES AND IOT: The use of voice-activated devices and IoT sensors enables real-time monitoring of patients' vital signs and activities. This information is then transmitted securely to healthcare providers, facilitating prompt decision-making and intervention.
CLOUD-BASED MANAGEMENT PLATFORMS: Home healthcare service providers are increasingly adopting cloud-based management platforms to streamline operations, improve data accessibility, maintain case history, and enhance collaboration among healthcare professionals.
HOMECARE SAAS SOLUTIONS: Software as a Service (SaaS) solutions tailored for home healthcare enable efficient data management, appointment scheduling, and communication between healthcare providers and patients.
VR THERAPY FOR DEMENTIA: Virtual Reality (VR) therapy is emerging as a novel approach for managing dementia in the home setting. It provides engaging experiences that can improve cognitive function and enhance the overall well-being of patients.
ELECTRONIC HEALTH RECORDS (EHR): The implementation of EHR systems ensures the secure and comprehensive documentation of patients' health information, promoting seamless communication and coordination among healthcare providers.
To address the diverse needs of patients, home healthcare service providers are forging strategic collaborations with hospitals and other stakeholders. As we look ahead, the integration of technology and strategic collaborations will be pivotal in shaping the future of home healthcare in India.
