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 7.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Geriatric care services provide various types of home-based non-medical services and assistance to senior citizens. These include daily activities, mobility assistance, meal preparation, light housekeeping, social engagement, escort to appointments and more. The growing aging population and greater acceptance of in-home care are driving the need for such services in India.
Market key trends:
One of the major trends in the India geriatric care services market is the rising adoption of AI-assisted home care devices and services. Technologies like fall detectors, medication reminders, telehealth solutions, activity trackers and social robots are being increasingly used to provide remote assistance and monitoring of senior citizens. They allow aging individuals to live independently and safely at home for longer. AI is also empowering caregivers by automating routine tasks, spotting medical emergencies earlier and keeping families connected through virtual care visits. This is fueling the overall growth of the India geriatric care services industry during the forecast period.
The India geriatric care services market is dominated by home healthcare services segment. Home healthcare allows elderly citizens to receive medical care services within the comfort of their own homes as opposed to hospitals or nursing homes. It provides various benefits such as convenience, cost effectiveness, reduced hospital stays and improved quality of life for senior citizens. This segment is growing at a rapid pace due to increasing preference for homecare among elderly population and their family members.
The Global India Geriatric Care Services Market Size is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing healthcare spending and growing elderly population in the country.
The western region dominates the India geriatric care services market with majority of market share. States like Maharashtra, Gujarat and Madhya Pradesh have witnessed increasing adoption of geriatric care services. This region is expected to grow at fastest pace during forecast period owing to growing elderly population and presence of major players in western part of India.
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. Major players are focussing on expanding service reach and enhancing service offerings to strengthen their position in the market.