India Geriatric Care Services Market will grow at highest pace owing to growing geriatric population

India geriatric care services market is primarily driven by growing elderly population in India coupled with increasing life expectancy. Geriatric care services help improve the quality of life of elderly population suffering from various age-related medical issues. They provide medical and personal care services to senior citizens including health & personal care, rehabilitation & physical therapy, home care, social care & counseling. The geriatric population in India is estimated to rise sharply from 103 million in 2011 to around 319 million by 2050. The need for specialized healthcare along with assisted living and nursing facilities is increasing rapidly to cater to the medical and personal needs of elderly people.

The Global India Geriatric Care Services Market is estimated to be valued at US$ 33.9 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the India geriatric care services are Reckitt Benckiser Group Plc, Nestlé S.A., Abbott Laboratories, Groupe Danone, Royal FrieslandCampina, Baxter International Inc., Fresenius Kabi, and B. Braun Melsungen AG. These players are focusing on expanding their product portfolios and service offerings to capitalize on the high-growth opportunities in the market.

The demand for India Geriatric Care Services Market Growth is increasing rapidly owing to the rising healthcare needs of the growing elderly population base in India suffering from chronic medical conditions. Home healthcare and nursing home facilities are gaining immense popularity as they provide medical as well as personal care services to senior citizens.

Technological advancements in geriatric care equipment and solutions are enhancing the quality of life of elderly people. Various tech-enabled devices and monitoring systems help improve health outcomes, independence, and safety of the older population. Wearables, telehealth solutions, and remote patient monitoring systems are increasingly being used for geriatric care.

Market Trends

- Rising popularity of home healthcare: With growing preference for ageing at home, the demand for home healthcare services including home nursing, rehabilitation, telemedicine is increasing rapidly in India.

- Inclination towards assisted living facilities: Many seniors are opting for assisted living communities and retirement homes which offer resort-like amenities along with medical supervision and personal care services.

Market Opportunities

- Untapped rural areas: Significant growth opportunities exist in tier 2 & 3 cities as well as rural areas where geriatric care infrastructure is lacking.

- innovations in personalized care: Startups are developing personalized solutions leveraging technologies like AI, IoT and virtual reality to improve healthcare access and quality of experience for elderly patients.

The COVID-19 pandemic has significantly impacted India's geriatric care services market. India has seen a surge in the elderly population over 65 years in recent years. However, the onset of the pandemic posed severe challenges for elderly care. During the initial months of the lockdown, non-emergency geriatric services were suspended to avoid virus transmission. This led to isolation and reduced social interaction among seniors, affecting their physical and mental well-being. Homecare emerged as a suitable option but caregiver availability was limited. Teleconsultations partially addressed care needs but digital literacy was a hurdle for many seniors. The restrictions also impacted the operating capabilities of elderly care homes and hampered new admission procedures.

However, as the country learns to live with the virus, strategies are being implemented to boost safe senior care. While virtual engagement remains vital, in-person services are being gradually revived following strict safety protocols. Caregiver training is focusing on infection control and emotional support. Technology solutions are enabling remote patient monitoring and facilitating care coordination between families and professionals. The outbreak has underscored the importance of strengthening community-based senior support alongside facility-based care. It has also accelerated regulatory reforms and investments to develop an integrated elderly care framework. If managed effectively through personalized solutions, collaborative efforts and vaccine access, India's geriatric sector is poised for a resilient post-pandemic growth.

In terms of revenue, the geriatric care services market in India is concentrated majorly in urban regions like Delhi, Mumbai, Bengaluru, Hyderabad and Chennai. This is owing to higher elderly population density and better access to formal senior care arrangements in cities. However, the small towns and rural areas in the states of Uttar Pradesh, Bihar, West Bengal and Odisha are emerging as the fastest growing regional markets. This growth can be attributed to improving medical infrastructure, rising life expectancy, and initiatives to take quality aged care services to grassroots level through public-private partnerships.

Get more insights on India Geriatric Care Services Market

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)