Arindam Bhattacharyya, an advertising executive based in Jakarta, faced a common dilemma in 2024 when his parents, visiting from Kolkata, experienced a health crisis. While he managed their immediate medical needs, the question of how to care for them long-term from afar became pressing.
This scenario reflects a broader demographic shift in India. Globally, the number of individuals aged 60 and above is projected to double to 2.1 billion by 2050. India is expected to mirror this trend, with one in every five Indians anticipated to be over 60 by the same year, representing approximately 21% of the total population, according to the United Nations Population Fund (UNFPA).
Traditionally, the expectation in India was that families would provide care for their elders. However, factors such as the decline of joint families and the increasing mobility of younger generations have complicated this model. Experts note a widening gap due to limited social infrastructure to support the elderly.
This evolving landscape has created an opportunity for businesses. India's senior care industry is estimated to be worth around $7 billion, with significant growth potential expected for healthcare companies, according to government think-tank NITI Aayog. Numerous start-ups are emerging to address various aspects of eldercare, including senior living facilities, home care services, and technology-enabled solutions. While these companies aim to support older adults in living more independently, their primary clients are often the adult children of the seniors they serve.
Bhattacharyya, for instance, now utilizes two start-ups to monitor his parents' health, coordinate care, and arrange emergency medical support. "These services are a big help but I still monitor everything closely [from Jakarta]," he stated.
Organized senior living is one area seeing increased demand, driven by higher incomes and shifting family structures. Companies like Manasum Senior Living, Primus Senior Living, Ananta Living, and Vedaanta Senior Living are developing specialized housing and care projects. Despite growing interest from traditional real estate developers, demand significantly outpaces supply. Real estate firm Colliers International Group estimates the current demand for senior living units in India at around 2 to 2.2 million, with only approximately 25,000 units currently available.
Anantharam Varayur, co-founder of Manasum Senior Living, observed that many older individuals in India lived more restricted lives compared to their counterparts in the U.S. Initially, his company faced a