Geriatrics is a branch of social science or medicine that is concerned with improving the health of elderly people. This helps in enhancing health aging and also prevents the spread of disease which are accompanied with aging. Geriatric care can include medical and personal care services, elderly people can be provided with healthcare facilities at home, nursing homes, psychiatric institutions or hospitals. Various services are provide to elderly population like physical therapy, IV therapy, occupational therapy and dialysis. Non-medical geriatric care services include services like social care, driving, fall prevention, driving and others.
The India geriatric care services market is anticipated to be valued at US$ 25.7 Billion in 2021, and is estimated to exhibit a CAGR of 7.0 % over the forecast period.
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Impact of COVID-19:
COVID-19 outbreak was first reported on December 31, 2019, in China and later declared as a pandemic in March, 2020. Strict lockdowns were imposed in several countries cross the world to stop the transmission of COVID-19 and this resulted in economic loss and caused financial impact on businesses in all sectors especially the healthcare sector. The pandemic impacted the supply chains in the healthcare sector owing to strict lockdowns being imposed in several regions. COVID-19 directly affected demand and the production by causing disruptions in the distribution channels. Thus impacting financial markets and various industries.
Many elderly people faced challenges regarding their daily chores during the pandemic as they were not staying in with their families or containment zones or hotspots of COVID-19. A geriatric center would look after all of the needs of the elderly people. Proper medical services, were offered to them, and essential staff was residing with the people and no visitors were allowed to enter the care centers so as to prevent transmission of COVID-19. Thus, COVID-19 helped in boosting the growth of geriatric care services market in India, due to the launch of new programs for the elderly population and various benefits provided by such care centers. For instance, IntechOpen journal published an article in January 2021, mentioning about the program launched by the Public Health Foundation of India for training healthcare professionals working in the Geriatric health care sector, and this initiative also aimed to showcase the vision of Indian government in health care delivery system.
Rise in geriatric population of India is estimated to fuel the growth of the India geriatric care services market during the forecast period. For instance, NCP (National Commission on Population) constituted a technical Group for carrying out population projections for the time period of 2011-2026 with a mandatory condition of reviewing the methodologies of population projections that have been adopted in the past and this committee will also be responsible for making fresh projections till the year 2036. The Technical Group stated that, on Population Projections for India and States 2011-2036, population of elderly in India in 2021 was around 138 million, consisting of 71million females and 67 million males. Furthermore, the Technical Group also mentioned that an increase in elderly population by 34 million was witnessed in 2021, in the Population Census 2011. The geriatric population is anticipated to rise by 56 million in 2031.
Moreover, rise in the number of services offered by geriatric care centers like doctor consultation, 24×7 service, and diagnostic services are expected to propel the growth of the India geriatric care services market during the forecast period. New initiatives like AntaraSeniorCare, Healthcare at Home and Nisarga Care offer a wide range of services at home, hence saving a cost for both customers and the providers. Owing to increase in competition, service providers are offering various services such as daycare services along with skilled nursing facilities for reaching out to the selected population.
Scarcity of geriatric care centers in rural areas is estimated to hinder the growth of the India geriatric care services market during the forecast period. For instance, International Journal of Public Health Research, published a public health review in 2019, mentioning that elderly population in rural areas is at a greater risk, owing to the absence of proper health services especially focusing on geriatric care. Financial stability, lower socioeconomic status, insight of health problems and morbidity profile amongst the rural elderly population differs from urban elderly population significantly.
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Major players active in the india geriatric care services market include Kriti Elder Care, Heritage Eldercare Services Pvt. Ltd., Elder Care, Jeevan Suraksha, AntaraSeniorCare, ASLI (Association of Senior Living India), Piramal Swasthya, Nisarg Care, Age Ventures India, Tata Trust, Nema Care and Ashiana Housing Ltd.
Reasons to buy this India Geriatric Care Services Market Report
◘ Save time carrying out entry-level research by identifying the size, growth, and leading players in the emerging India Geriatric Care Services Market
◘ Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the emerging India Geriatric Care Services Market
◘ Leading company profiles reveal details of key India Geriatric Care Services Market players emerging five operations and financial performance
◘ Add weight to presentations and pitches by understanding the future growth prospects of the emerging India Geriatric Care Services Market with five year historical forecasts
◘ Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of India Geriatric Care Services Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of India Geriatric Care Services Market are also given.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 India Geriatric Care Services Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: India Geriatric Care Services Industry Impact
Chapter 2 Global India Geriatric Care Services Competition by Types, Applications, and Top Regions and Countries
2.1 Global India Geriatric Care Services (Volume and Value) by Type
2.3 Global India Geriatric Care Services (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global India Geriatric Care Services Sales, Consumption, Export, Import by Regions
Chapter 5 North America India Geriatric Care Services Market Analysis
Chapter 6 East Asia India Geriatric Care Services Market Analysis
Chapter 7 Europe India Geriatric Care Services Market Analysis
Chapter 8 South Asia India Geriatric Care Services Market Analysis
Chapter 9 Southeast Asia India Geriatric Care Services Market Analysis
Chapter 10 Middle East India Geriatric Care Services Market Analysis
Chapter 11 Africa India Geriatric Care Services Market Analysis
Chapter 12 Oceania India Geriatric Care Services Market Analysis
Chapter 13 South America India Geriatric Care Services Market Analysis
Chapter 14 Company Profiles and Key Figures in India Geriatric Care Services Business
Chapter 15 Global India Geriatric Care Services Market Forecast (2022-2028)
Chapter 16 Conclusions
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