Opportunities in Elderly Care in India

India has the second largest geriatric population in the world. According to UN population fund report, the number of people aged over 60 years will reach 300 million by 2050. The middle class is expanding and is better able to pay for preventative and primary care.

Chronic disease prevalence is increasing rapidly amidst sedentary lifestyles, diet changes, and rising obesity levels. Many interventions have extended from hospital settings to home owing to advances in communication and Medical technology.

Key Drivers for Home Care Market in India

Need for Elderly Care

• Home healthcare is one of the main strategies to care for elderly population (aged above 60), which is a fast-growing demographic segment of India having about 90 million seniors. The Indian home healthcare market is projected to grow at a rate of 20% annually and is estimated to be valued at USD 15 to USD 16 billion by 2020.
• There is a pressing need for elderly care in India due to the following factors:
a) increased average life expectancy
b) shifting disease burden for patients requiring prolonged support
c) lack of trained manpower
d) limited flexible insurance options
e) changing family patterns
f) limited government funding
g) fewer geriatric care training centers and
h) limited number of healthcare facilities with focus on elderly care.
• Growing elderly population has several health, social and economic implications for both the individual and the country.

Emerging Trends in Home Care (Past over Present)

For more information, please contact:
Ambika Oberoi Sawhney
Senior Market Adviser
Innovation Norway, New Delhi
T.: +91 11 49099202

Photo: Rawpixel, Unsplash.com

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