The geriatric care services market in India is driven by the growing elderly population, increasing prevalence of chronic diseases, and rising demand for specialized healthcare services for seniors. The market is also influenced by government initiatives to improve senior healthcare, increasing healthcare expenditure, and advancements in technology. The market is segmented by service type, which includes home care, institutional care, and adult daycare. The geriatric care services market in India faces challenges such as a lack of skilled professionals, limited availability of specialized facilities, and high costs associated with senior care services. However, the market is expected to grow due to increasing investments by private and public players, increasing adoption of technology-enabled care services, and rising demand for customized care solutions for seniors.
India Geriatric Care Services Market
The is estimated to be valued at US$ 25.7 Bn in 2021, and is expected to exhibit a CAGR of 7.0 % over the forecast period (2021-2028).
Prominent Players in the India geriatric care services industry:
Emoha Elder Care
Emoha Elder Care is an Indian elderly care services company founded in 2019 and headquartered in Gurugram, India. The company provides a range of services, including home care, assisted living, and telemedicine services, and currently operates in India. In March 2021, Emoha raised $2 million in funding led by Lumis Partners and Inflection Point Ventures to expand its eldercare services in India.
Antara Senior Living
Antara Senior Living is an Indian luxury retirement community provider founded in 2013 and headquartered in Gurgaon, India. The company offers a range of senior living options, including independent living, assisted living, and memory care, and operates in India. In August 2021, Antara Senior Living announced its plans to invest Rs 300 crore ($40 million) to set up a senior living community in Bengaluru, India.
Nisarg Care
Nisarg Care is an Indian elder care services provider founded in 2014 and headquartered in Pune, India. The company offers a range of services, including home care, nursing care, and palliative care, and currently operates in India. In January 2021, Nisarg Care announced the launch of a new assisted living facility in Pune, India, with advanced medical facilities for seniors.
Tata Trust
Tata Trust is an Indian philanthropic organization founded in 1892 and headquartered in Mumbai, India. The organization works towards improving healthcare, education, and livelihoods in India and operates in several countries worldwide. In September 2021, Tata Trusts launched a new initiative called 'SAATHI' (Systematic Assistance for Advancing Holistic Initiatives for Senior Citizens) to provide holistic support to senior citizens in India.