Geriatric care services refer to various products and services associated with elderly care and assistance for senior citizens including home care, adult day care, institutional care and others. The geriatric population requires assistance in activities of daily living such as bathing, dressing, eating, using the toilet, transferring, walking and continence. The growing elderly population in India along with increasing life expectancy is driving demand for elderly care services in the country. According to recent estimates, there are over 138 million elderly persons aged 60 years and above in India and this figure is projected to reach about 323 million by 2050.
India Geriatric Care Services Market is estimated to be valued at US$ 10.72 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the India Geriatric Care Services are Emoha Elder Care, AntaraSeniorCare, Nisarg Care, Tata Trust, Ashiana Housing Ltd., Heritage Eldercare Services Pvt. Ltd., ASLI (Association of Senior Living India), Nema Care, Age Ventures India, Piramal Swasthya, Jeevan Suraksha, and Kriti Elder Care
The is leading players offering institutional care, in-home care, adult day care and other senior living community services in India. The India Geriatric Care Services Market Growth elderly population in India has increased the need for assisted living facilities and home healthcare services for senior citizens. With increasing life expectancy and changing family structures, there is rising demand for non-familial long-term care options. Technological advancements in healthcare IT solutions, remote patient monitoring devices and smart homes have enabled continuous remote monitoring of elderly patients, thereby driving the growth of the geriatric care services market.
Market Trends
A key trend gaining traction in the India geriatric care services market is the growing preference for home-based care over institutional care facilities. This is mainly due to the high costs associated with nursing homes and the preference of elderly citizens to stay with family for as long as possible. Another major trend is the increasing adoption of telehealth and remote patient monitoring solutions by geriatric care service providers. This allows continuous monitoring of health parameters of elderly patients while enabling independent living.
Market Opportunities
One of the major India Geriatric Care Services Market Challenges And Opportunities for players in the market is offering affordable and customized home care packages for the elderly population with different care needs. There is also opportunity to partner with housing societies, volunteer groups and local authorities to provide basic elderly care facilities at the community level. Investing in technology solutions to strengthen care coordination and allow access to medical records will help improve quality of care.
The COVID-19 pandemic has significantly impacted the growth of India Geriatric Care Services Market, as the elderly population represents the most vulnerable group. The occurrence of COVID-19 has disrupted geriatric care facilities and services across the country. With risk of transmission being high, day care centres were shut down temporarily impacting both caregivers and the elderly. Home healthcare service providers faced operational challenges due to limited resources and lockdown restrictions. Social distancing norms made frequent interaction between the elderly and family members difficult, negatively impacting their mental and emotional well-being.
However, with vaccination drives and adaptation to new norms, the market is recovering steadily in the post-COVID era. The demand for home-based geriatric care is growing as families prefer at-home care over institutions to avoid risk of infection. Telehealth and telemedicine are gaining prominence for remote health monitoring of the senior citizens. Service providers are focusing on training caretakers, implementing safety protocols and leveraging digital technologies to ensure quality care. The government is assisting the market through various initiatives like provision of PPE kits, vaccination camps for elderly and relaxing of norms for caregivers. In the coming years, innovative solutions, personalized care models and further policy support are expected to boost market expansion.
In terms of value, North India region accounts for the largest share of India Geriatric Care Services Market. States like Delhi, Uttar Pradesh, Haryana have concentration of metropolitan cities and higher proportion of elderly population driving the demand. Western India is the fastest growing regional market stimulated by improved healthcare infrastructure and facilities in Gujarat and Maharashtra. In Eastern region, West Bengal in particular is witnessing surge due to rising medical tourists, government focus and private sector participation in elder care. Southern India market is expanding steadily led by developed healthcare sector and changing demographics in Karnataka, Kerala and Tamil Nadu.
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