India geriatric care services market covers home care, adult day care and institutional care services that help elderly people with their daily activities such as bathing, dressing, using the bathroom, preparing meals, housekeeping, walking, mobility assistance and other benefits. The geriatric population is expanding rapidly in India due to increasing life expectancy and declining fertility rates which has created demand for these geriatric care services. The geriatric care services improve quality of life for the elderly and allow them to live independently by providing non-medical support and assistance. They help relieve stress and burden on families as well.

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 2030.

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 service portfolios and capabilities in India to capitalize on the market potential.

The key opportunities in the India geriatric care services market include rising acceptance of home care services among middle income groups, increasing availability of customized Elderly Care Package Plans from major insurance players and hospitals in India. The market is also expected to benefit from growing medical tourism for cost effective quality elder care in the country.

The major players are actively pursuing global expansion strategies in India through acquisitions, partnerships and by setting up aging infrastructure including senior housing, advanced day care centers and elder care hospitals. This is expected to provide market access across Tier I, II and III cities in India over the forecast period.

Market Drivers

Rising elderly population: India's elderly population which was 103 million in 2011 is expected to be around 300 million by 2050. This expanding geriatric demographic is a major driver for growth of care services.

Government focus on elderly care: Government schemes such as Integrated Programme for Senior Citizens and National Programme for Health Care of Elderly aim to develop infrastructure and provide affordable quality care. This will boost the market.

Market Restrains

Limited affordability: Despite rapid economic growth, large sections are still not financially capable of bearing personal elderly care costs which act as a restrain.

Shortage of trained professionals: Availability of experienced caregivers and nurses in India trained for geriatric care needs is limited which affects service quality and expansion.

Segment Analysis

Home-based care is the dominating sub-segment currently for Global India Geriatric Care Services Market Due to rising nuclear families and increasing prevalence of chronic diseases, there has been significant demand for elderly home care services providing daily assistance and supervision to seniors within the comfort of their homes. Assisted living facilities are also gaining popularity which offer senior housing along with personal care services such as medication assistance, transportation, laundry, housekeeping and prepared meals. However, nursing homes and skilled nursing facilities have limited adoption currently due to high costs and cultural preference of families to care for elderly at home as long as possible.

Global Analysis

North America region leads the global geriatric care services market currently due to advanced elderly care infrastructure and greater acceptance of long-term care facilities. However, the Asia Pacific region is poised to witness the fastest growth over the forecast period for India Geriatric Care Services Market. This is attributed to rapidly growing aging population, economic development, rising healthcare spending and changing cultural mindsets in emerging countries like India, China and Japan accepting paid professional care for the elderly instead of traditional family support system. Government initiatives for senior housing and home healthcare programs are also driving the market growth across Asia Pacific region for geriatric care services.

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