India To House Up To 17 Percent of World’s Elderly Population By 2050; Details

India To Home Up To 17 % of World’s Aged Inhabitants By 2050; Particulars

The overall estimated goal for senior residing amenities in 2024 is round 1 million, projected to extend to 2.5 million within the subsequent 10 years.



Printed: April 17, 2024 9:54 PM IST


By IANS

India To House Up To 17 Percent of World's Elderly Population By 2050; Details

New Delhi: By 2050, India is projected to accommodate as much as 340 million senior residents, constituting roughly 17 % of the world’s aged inhabitants, a brand new report confirmed on Wednesday. With an rising variety of seniors in search of specialised care and life-style choices, the demand for senior residing amenities has surged considerably within the nation lately, in line with a report by actual property consulting agency CBRE South Asia.

“In India, the phase is witnessing substantial progress, pushed by beneficial demographics, rising continual situations, and rising consciousness,” the findings confirmed.

Presently, the senior care panorama is quickly evolving, with 18,000 items unfold all through the nation. The southern area distinctly leads by contributing about 62 per cent to the general provide in organised senior residing and care segments.

The overall estimated goal for senior residing amenities in 2024 is round 1 million, projected to extend to 2.5 million within the subsequent 10 years.

“India’s senior inhabitants is anticipated to expertise a outstanding 254 per cent progress, making it the fastest-growing demographic phase globally,” stated Anshuman Journal, Chairman and CEO, India, South-East Asia, Center East & Africa, CBRE.

India has skilled a big surge within the variety of senior residing initiatives over the previous decade, reflecting the rising acceptance and demand on this sector, he added.

The longer term growth of senior care items by main gamers is concentrated within the cities of Chennai, Bengaluru, Hyderabad, Coimbatore, Pune and Delhi-NCR.

For enhanced geriatric care in India, a number of coverage initiatives, equivalent to Nationwide Programme for Healthcare of Aged (NPHCE), Nationwide Well being Coverage and community-based programmes are undertaken by the federal government.

“Business leaders emphasise the booming potential of the senior care sector in India, recognising the necessity for structured care programmes, focused insurance policies, and specialised medical companies to satisfy the evolving preferences of the ageing inhabitants,” stated Rami Kaushal, Managing Director, Consulting and Valuation Providers, India Center East and Africa, CBRE.



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