India’s silver tsunami: Is the nation geared to care for its ageing population?

India is on the cusp of a profound demographic transformation. By 2050, a quarter of its population is projected to be senior citizens. This immense shift, highlighted by the United Nations General Assembly designating 2021-2030 as the Decade of Healthy Ageing, underscores the urgent need to enhance the quality of life for older adults, moving beyond basic amenities to offering superior, tailored lifestyle options.

However, India's elder care market faces significant challenges that must be addressed to truly cater to this burgeoning "silver generation":

Challenges in the elder care market in India

Severe shortage of geriatric specialists

A critical bottleneck in India's elder care system is the alarming dearth of geriatricians. As of 2024, there are only approximately 300-350 geriatricians in the entire country. To meet the recommended standard of one geriatrician per 700 elderly individuals, India would need over 59,000 geriatricians by 2050, a target that appears exceedingly difficult to achieve given current trends. This shortage severely impacts the diagnosis and management of age-related health problems.

High burden of chronic diseases and co-morbidities

The Longitudinal Ageing Study in India (LASI, 2020) reveals a widespread prevalence of chronic diseases among older adults. Hypertension affects 32%, diabetes 14% and arthritis 18%. This means that co-morbidities are common, presenting complex and evolving healthcare needs that the existing system is not adequately equipped to handle.

Financial vulnerability and lack of employment opportunities

A large portion of India's elderly population feels financially insecure. Currently, only about one-third of seniors are employed, with government sources indicating that 70% are dependent on family or pensions for their daily maintenance. This highlights an urgent need for more work opportunities that leverage their expertise and experience, especially as the dependency ratio is projected to rise sharply.

Digital exclusion

Despite India's push for digitisation, a large segment of its elderly population risks being left behind. A majority of seniors reside in rural areas or Tier 2 and 3 towns, often with limited or no access to essential technologies. In 2024, nearly 85.8% of the elderly were found to be digitally illiterate. This "digital exclusion" creates significant barriers to accessing information, services and staying connected in an increasingly digital world.

Insufficient senior living infrastructure

While the demand for senior living spaces is growing rapidly, the current supply drastically falls short. According to a Savills India report, India's senior living sector alone will require investments of about ₹41,000-72,000 crore between 2025 and 2030, highlighting a significant gap between demand and available facilities.

Lack of comprehensive policy and regulation

While the policy landscape has evolved, much more is needed to provide comprehensive senior care. The sector still requires appropriate regulations and standards, supportive policy frameworks, favorable tax structures, access to subsidised financing and effective government mechanisms to pave the way for a truly age-friendly India.

Emerging trends and opportunities

Despite the hurdles, the emergence of the silver generation has given rise to a nascent yet promising industry, brimming with innovative trends and opportunities. This wave is expanding beyond Tier 1 cities into Tier 2 cities, signaling a crucial shift in mindset towards senior welfare.

Growing senior living and housing sector

This segment is experiencing significant growth as changing family dynamics lead more seniors to opt for independent living with integrated healthcare and social engagement opportunities. Companies are actively developing projects offering independent living, assisted living and specialised memory care, increasingly shaped by global best practices.

Expanding healthcare services

The healthcare segment is vital and witnessing growth, particularly in:

• Geriatric care services: Specialised medical care for the elderly, focusing on age-related health problems.

• Home healthcare: A rapidly expanding segment delivering nursing care, doctor visits, physiotherapy and rehabilitation directly to seniors' homes, providing comfort and convenience.

Potential of "elder tech" Industry

The Elder Tech industry holds immense potential to improve the lives of the aged. This includes:

• Remote monitoring systems: Wearable devices and in-home sensors tracking vital signs and detecting falls, alerting caregivers to emergencies.

• Telemedicine and teleconsultation platforms: Enabling virtual consultations, especially beneficial for seniors in remote areas or with mobility issues.

• Smart home devices: Automated lighting, heating and security systems enhancing safety and independence.

• Communication technology: User-friendly smartphones, tablets and voice-activated assistants facilitating connectivity.

Evolving policy landscape and government initiatives

The policy landscape has evolved over the last two decades, with the Ministry of Social Justice and Empowerment (MoSJE) leading efforts. Initiatives like the National Policy on Older Persons and the Atal Vayo Abhyudaya Yojana signify a growing government focus on senior welfare.

The National Programme for the Health Care for the Elderly (NPHCE) aims to provide accessible, affordable and high-quality long-term care through various health facilities and includes a significant Longitudinal Ageing Study in India (LASI) for data collection.

Recognition of senior care as a distinct sector

There's a growing recognition of senior care as a distinct sector, essential for driving comprehensive support. This shift in perspective is crucial for developing targeted interventions and fostering an age-friendly ecosystem.

To achieve truly comprehensive senior care, a paradigm shift is essential. The goal is to create a seamless continuum of care that supports holistic wellness and effectively addresses priority areas, necessitating a collaborative effort from all stakeholders.India's aging population, projected to be a quarter senior citizens by 2050, urgently requires improved quality of life.