The global India geriatric care services market is estimated to be valued at US$ 27.6 Bn in 2022 and is expected to exhibit a CAGR of 7.0% over the forecast period 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Geriatric care services in India provide holistic care for senior citizens including domiciliary and palliative care, daycare, inpatient and nursing care. These services help improve quality of life for the elderly and enable them to live independently for longer. With growing burden of chronic diseases, geriatric care services are increasingly being used to properly manage health of the aging population. Market key trends: One of the key trends in the India geriatric care services market is rising demand for domiciliary and palliative care. With changing family structures and preference for aging-in-place, more elderly people are opting for care services at home. Palliative care is also gaining prominence due to growing burden of chronic illnesses like cancer among seniors. Market players are focusing on enhancing home healthcare offerings through newer service models and technologies like telehealth to cater to changing consumer needs. However, lack of proper regulation and infrastructure remains a challenge for widespread adoption of community-based care services in the country. Segment Analysis The India geriatric care services market is segmented into home-based care, community-based care, and institutional care. Institutional care dominates the market with over 60% share and is expected to maintain its dominance over the forecast period. Institutional care offers 24/7 services to senior citizens and allows them to mingle with others of similar age groups. This makes it a preferred option for geriatric care in India. Key Takeaways Market size The global India Geriatric Care Services Market Growth is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing loneliness and lack of caregivers among senior citizens. Regional analysis North India dominates the India geriatric care services market with over 40% share. This is attributed to the growing elderly population and increasing preference for joint families in North Indian states. South India is expected to witness the fastest growth over the forecast period. Key players Key players operating in the India geriatric care services market are 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. These players are focusing on expanding their service offerings and presence across different cities in India. Read More, https://www.insightprobing.com/india-geriatric-care-services-market-trends-size-and-share-analysis/
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