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.
The India Geriatric Care Services Market 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:
1. 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.
2. 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.
3. 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.
4. 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.
5. Ashiana Housing Ltd.
Ashiana Housing Ltd. is an Indian real estate development company founded in 1986 and headquartered in New Delhi, India. The company specializes in senior living communities and currently operates in India.
6. Heritage Eldercare Services Pvt. Ltd.
Heritage Eldercare Services Pvt. Ltd. is an Indian elder care services provider founded in 2014 and headquartered in Bangalore, India. The company offers a range of services, including home care, assisted living, and nursing care, and currently operates in India.
7. ASLI (Association of Senior Living India)
ASLI (Association of Senior Living India) is an Indian association for senior living providers founded in 2012 and headquartered in Mumbai, India. The association represents the interests of senior living providers in India and currently has members across the country. In November 2021, ASLI organized the Senior Living Week, a virtual event aimed at promoting senior living in India and discussing the challenges and opportunities in the sector.
8. Nema Care
Nema Care is an Indian elder care services provider founded in 2015 and headquartered in Hyderabad, India. The company offers a range of services, including home care, assisted living, and palliative care, and currently operates in India.
9. Age Ventures India
Age Ventures India is an Indian elder care services provider and accelerator founded in 2017 and headquartered in Bangalore, India. The company provides support to elder care startups in India and currently operates in the country.
10. Piramal Swasthya
Piramal Swasthya is an Indian healthcare organization founded in 2013 and headquartered in Mumbai, India. The organization works towards improving healthcare in India and currently operates in several states in the country.
11. Jeevan Suraksha
Jeevan Suraksha is an Indian elder care services provider founded in 2018 and headquartered in Chennai, India. The company offers a range of services, including home care, assisted living, and nursing care, and currently operates in India.
12. Kriti Elder Care
Kriti Elder Care is an Indian elder care services provider founded in 2014 and headquartered in New Delhi, India. The company offers a range of services, including home care, assisted living, and nursing care, and currently operates in India.
*Definition- India geriatric care services refer to a range of services and support provided to elderly individuals to help them maintain their quality of life, including home care, assisted living, nursing care, and palliative care.
