INDIA GERIATRIC CARE SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2021 to 2028)

Geriatric care management integrates health care and psychological care with other necessary services such as housing, home care services, nutritional services, assistance with daily living activities, socialization programs, and financial and legal planning (e.g. banking, trusts). Following a comprehensive assessment, a care plan tailored to specific circumstances is developed, which is continuously monitored and modified as needed.

Market Dynamics

Increasing funding and investments by government of India is expected to drive the growth of India geriatric care services market over the forecast period. For instance, on 22 December 2021, the Ministry of Social Justice & Empowerment, India, announced that financial assistance in the form of Grant-in-Aids is provided to state government bodies or non-profit organization under the scheme of Integrated Programme for Senior Citizens (IPSr.C) for the operation and maintenance of Senior Citizens Homes. Under this scheme, aid and funding have been given to 119 new Senior Citizen homes with 4945 beneficiaries across the country over the last three years. Financial assistance is also provided under the IPSrC for the upkeep of Continuous Care Homes, which are the facilities that provide senior citizens with a lifetime continuum of care, suffering from Alzheimer's/Dementia.

Increasing launches of old age homes in India is expected to drive the market growth over the forecast period. For instance, in August 2017, NLC (Navratna Government Corporation) India Limited, a public coal mining company, opened ‘Anandam,’ an elderly home in Neyveli. Dr. Sarath Kumar Acharya, CMD, NLCIL, inaugurated the old age home as part of the 71st Independence Day celebrations.

Increasing launches of initiatives and programs for elderly care by market players and non-profit organizations is expected to drive the growth of India geriatric care services market. For instance, in July 2020, Charities Aid Foundation (CAF) India, a leading non-profit organization, in collaboration with Shri Arun Bharat Ram, chairman of SRF Ltd., launched the 'AGE CARE' project, which focuses on elderly care during the COVID-19 pandemic. Over the next three months, the project aims to: 1) provide direct access to food and health security to poor and abandoned elderly living in two old age homes in Badarpur, Delhi, and Garh Mukteshwar, Uttar Pradesh; and 2) raise awareness of COVID-19 symptoms, prevention, and treatment among aged widows living in Vrindavan along with healthy food and medical care.

Key features of the study:

• This report provides an in-depth analysis of India geriatric care services market, provides market size (US$ Billion), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
• It profiles leading players in the India geriatric care services market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
• Key companies covered as a part of this study include 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
• Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
• The India geriatric care services market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision making through various strategy matrices used in analyzing the India geriatric care services market

Detailed Segmentation:

• India Geriatric Care Services Market, By Services:
  • In-Home Care
  • Hourly Adult Care
  • Hospice Care
  • Palliative Care
  • Assisted Living
  • Nursing Home
• India Geriatric Care Services Market, By Service Provider:
  • Public
  • Private
• India Geriatric Care Services Market, By Disease Indication:
  • Dementia
  • Parkinson’s Disease
  • Cancer
  • Stroke
  • Osteoarthritis
  • Others
• Company Profiles
  •  Emoha Elder Care *
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Recent Developments/Updates
    • Strategies
  • 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
  • Kriti Elder Care

“*” marked represents similar segmentation in other categories in the respective section.