Geriatric care services provide medical and social services to senior citizens and elderly population who need assistance with daily activities or who have physical or mental disabilities. These services help enhance the quality of life of the elderly by offering services such as assisted living facilities, home care, adult day care and nursing homes.
Market key trends:
The demand for quality elderly care is accelerating the growth of the India geriatric care services market. With increasing elderly population who require supervised care and medical attention, there is huge demand for assisted living facilities, home care services and nursing homes that can offer quality care. It is estimated that over 20% of the Indian population will be over 60 years of age by 2050. This substantial geriatric population base is investing more on quality healthcare and wants access to facilities like day care, nursing homes etc. that can help improve quality of their lives in old age. To tap into this demand, key players in the market are focusing on expanding service offerings, improving infrastructure and hiring qualified professionals which is propelling the market growth over the forecast period.
Segment Analysis
The India geriatric care services market can be segmented based on services provided, which includes home-based care, community-based care, and institutional care. The home-based care segment is expected to dominate the market owing to increasing preference for home care services over institutional care as it provides comfort of staying with family and known environment.
Key Takeaways
The Global India Geriatric Care Services Market Size is expected to witness high growth. The increasing elderly population, rising incidence of chronic diseases, and growing preference for home care are some of the major factors driving the market. The global India Geriatric Care Services Market is estimated to be valued at US$ 29.42 Bn in 2023 and is expected to exhibit a CAGR of 7% over the forecast period 2023 to 2030.
Regional analysis
The northern region dominates the India geriatric care services market, with states like Delhi NCR, Haryana, and Uttar Pradesh accounting for a majority share. Factors such as increasing geriatric population, availability of several service providers, and growth of nuclear families have boosted the demand for geriatric care services in this region.
Key players
Key players operating in the India geriatric care services market 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. Emoha Elder Care dominates the home-based care segment owing to its extensive service coverage in major cities.
Explore More Information On This Topic @ https://www.pressreleasebulletin.com/india-geriatric-care-services-market-scope/
Comments
0 comment