Key facts
- By 2050, one in five Indians will be over 60, representing about 21% of the population.
- The senior care industry in India is valued at $7 billion and is expected to grow rapidly.
- Demand for senior living units is estimated at 2-2.2 million, with only about 25,000 units currently available.
- 78% of India's elderly population lacks a pension, impacting their ability to access care services.
As India's population ages, with one in five expected to be over 60 by 2050, a growing number of start-ups are emerging to provide care for the elderly. This trend is driven by factors such as younger generations moving away for work and the shrinking of traditional joint families. The senior care market in India is valued at an estimated $7 billion and is projected for rapid growth, encompassing senior living facilities, home care services, and technology-enabled solutions. Companies are developing projects for senior housing, while others offer home-based care and AI-powered monitoring systems to assist older adults and their families. However, affordability remains a significant challenge, as many services are out of reach for a large segment of the elderly population who lack pensions.