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.
