India’s Senior Care Sector Poised Boom By 2030: ASLI Conclave To Spotlight Growth Opportunities
With India's over-60 population set to grow more than two-fold to 347 million by 2050, the country's elderly care market is experiencing a rapid growth, presenting a $50 billion opportunity by 2030, according to PwC–ASLI estimates.
Convenience-oriented lifestyles on the part of consumers, from wellness lifestyles to comprehensive financial planning, are propelling demand for new models of senior care and living. Powering the trend, retirement-oriented mutual funds saw a 226% five-year growth, while private sector NPS have increased from ₹84,814 crore to ₹2.78 lakh crore in AUM.
The sector itself already has good investor demand, with nearly 20 deals in the last 18 months and ticket sizes above ₹100 crore. Senior living capacity, currently covering only 2-3% of the senior citizen base, is seen growing 5x until 2030. Experts, however, warn that this may even then be short of covering growing demand.
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India's geriatric care sector stands at a pivotal turning point," said Karan Singh Sodi, JLL Senior Managing Director. "Penetration is at a paltry 1.4% as compared to over 6% in the developed economies. It is an onetime chance for strategic investors.".
ASLI’s flagship conclave on September 17 in Mumbai, with PwC India as Knowledge Partner and JLL India as Research Partner, will convene policymakers, investors, and providers to explore scalable, compassionate solutions for senior care.
Rajit Mehta, ASLI Chairman and MD & CEO of Antara Senior Care, highlighted the social impact: "This is greater than a money opportunity—it's an opportunity to create a future. For this growth to be enabled, professionals call for a progressive regulatory environment, including infrastructure status to elderly living, financial products like Reverse Mortgage Loans, and reduced GST rates.
As PwC's Rana Mehta explained, "India needs to change the narrative from dependence on silver economy to an evergreen economy where longevity fuels innovation and value creation for multiple generations."
