The senior care industry landscape – the trends and challenges

Care Finder^® (Integrated Eldercare Solutions Pvt ltd., ) turns 9 on 18th June 2024. In our journey in the last nine years, we’ve always been amazed at the way the care industry has unfolded. The industry is vast and the opportunities are enormous. One of the few industries that are socially meaningful and at the same time rewarding as a business. It’s been encouraging to see investments flow into the sector like never before. Luminis partners, Morgan Stanley, Signature Group, RPG Ventures, Manipal Investments , ( a few to name) have opened the doors and imagination to many more investors to look at this industry and its players. Organizations like CII, Association of Senior Living (ASLI), DIA (NGO) and others have been making significant contributions to this space.

From Healthcare & hospitals, products, services, real estate, finance, AI & IT, health care staffing, facilities management, NGOs .. the senior care landscape is exciting and inviting. Collaborations and consolidations ( eg., Healthcare at Home, Kites CPC ) are redefining the industry. The social forums, senior groups, pensioners associations and social groups are all keen to understand this industry, its impact on their business and how it can help them. The marketing gurus have predicted that if businesses fail to recognize the emergence and growth of this sector, it is at the peril of them losing out on business. This is evident from the increased outreach to this segment through advertisements and social media.

Also Read: Navigating Australia’s Ageing Care Workforce: Solutions to Support an Ageing Population and Worker Shortage

The number of startups coming up in this space is a testimony to the diverse needs of this industry. Significant share of deposits in banks are from this segment. Insurance sector is opening up to this segment now. Social issues are addressed and represented. Be it loneliness, or need for conversations, or just a buddy system to help out elders…. The senior care industry is certainly on the growth trajectory. Positively impacting people and their lives.