NEW DELHI: India is ready to accommodate as much as 17 laptop of the worldwide aged inhabitants by 2050. The forecast comes within the report titled ‘Golden alternatives from the silver financial system – analyzing the way forward for senior care in India’ by actual property agency CBRE South Asia Pvt Ltd.
The report additionally highlights India’s fast demographic transition, foreseeing substantial development within the senior care sector propelled by demographic shifts, rising life expectancy, and evolving preferences among the many aged for high quality dwelling requirements.
“India’s senior inhabitants is predicted to expertise a exceptional 254% development, making it the fastest-growing demographic phase globally. By 2050, India is projected to accommodate as much as 340 million seniors, constituting roughly 17% of the world’s aged inhabitants” stated Anshuman Journal, Chairman & CEO, CBRE, India.
He additional added “India has skilled a big surge within the variety of senior dwelling initiatives over the previous decade, reflecting the rising acceptance and demand on this sector”
In keeping with the report India’s senior inhabitants rising sooner than the general demographic and the builders are more and more recognizing the potential of the senior dwelling phase.
The report additional highlights a surge in specialised care and way of life choices for seniors, leading to a big uptick in demand for senior dwelling services throughout the nation.
At present, there are 18,000 items of senior dwelling services unfold all through India, with the southern area main the cost by contributing 62% to the general provide in organized senior dwelling and care segments. This development is fueled by elements comparable to increased affordability ranges and the prevalence of nuclear household buildings, significantly evident within the proportion of aged dwelling alone in comparison with northern states.
The report states that main gamers within the senior care phase are concentrating their efforts in southern tier-I and II cities like Chennai, Coimbatore, and Bangalore. Nevertheless, different areas such because the north and central zones additionally maintain important potential, accounting for 25% and 13% of the market share of senior dwelling and care items, respectively.
The report initiatives the whole goal for senior dwelling services to achieve round 1 million in 2024, poised to extend to 2.5 million over the following decade.
India’s present penetration charge for senior dwelling stands at lower than 1%, signaling substantial room for development in comparison with extra mature markets just like the UK and the US, the place penetration charges exceed 6%. The report emphasizes India’s nascent stage within the senior dwelling market, presenting huge alternatives for enlargement and innovation.
The report additional added, as acceptance ranges rise and affordability improves, the senior dwelling phase is poised for sustained development and innovation, providing numerous choices tailor-made to the evolving wants of older adults aged 60 and above. With structured care applications, focused insurance policies, and specialised medical providers, India’s senior care sector is well-positioned to satisfy the calls for of an getting old inhabitants within the years to come back.
The report additionally highlights India’s fast demographic transition, foreseeing substantial development within the senior care sector propelled by demographic shifts, rising life expectancy, and evolving preferences among the many aged for high quality dwelling requirements.
“India’s senior inhabitants is predicted to expertise a exceptional 254% development, making it the fastest-growing demographic phase globally. By 2050, India is projected to accommodate as much as 340 million seniors, constituting roughly 17% of the world’s aged inhabitants” stated Anshuman Journal, Chairman & CEO, CBRE, India.
He additional added “India has skilled a big surge within the variety of senior dwelling initiatives over the previous decade, reflecting the rising acceptance and demand on this sector”
In keeping with the report India’s senior inhabitants rising sooner than the general demographic and the builders are more and more recognizing the potential of the senior dwelling phase.
The report additional highlights a surge in specialised care and way of life choices for seniors, leading to a big uptick in demand for senior dwelling services throughout the nation.
At present, there are 18,000 items of senior dwelling services unfold all through India, with the southern area main the cost by contributing 62% to the general provide in organized senior dwelling and care segments. This development is fueled by elements comparable to increased affordability ranges and the prevalence of nuclear household buildings, significantly evident within the proportion of aged dwelling alone in comparison with northern states.
The report states that main gamers within the senior care phase are concentrating their efforts in southern tier-I and II cities like Chennai, Coimbatore, and Bangalore. Nevertheless, different areas such because the north and central zones additionally maintain important potential, accounting for 25% and 13% of the market share of senior dwelling and care items, respectively.
The report initiatives the whole goal for senior dwelling services to achieve round 1 million in 2024, poised to extend to 2.5 million over the following decade.
India’s present penetration charge for senior dwelling stands at lower than 1%, signaling substantial room for development in comparison with extra mature markets just like the UK and the US, the place penetration charges exceed 6%. The report emphasizes India’s nascent stage within the senior dwelling market, presenting huge alternatives for enlargement and innovation.
The report additional added, as acceptance ranges rise and affordability improves, the senior dwelling phase is poised for sustained development and innovation, providing numerous choices tailor-made to the evolving wants of older adults aged 60 and above. With structured care applications, focused insurance policies, and specialised medical providers, India’s senior care sector is well-positioned to satisfy the calls for of an getting old inhabitants within the years to come back.
