Team Blitz India
NEW DELHI: The Indian senior living market has the potential to grow to around $12 billion by 2030, up from $2 to $3 billion, on the back of an expected rise in median age and an ageing population fuelling an increase in demand for senior housing, according to a report by Colliers.
According to projections, the median age of the country is likely to increase from about 29 to 38 by 2050. Similarly, the proportion of aged people (above 60 years) is likely to increase from about 11 per cent in 2024 to 21 per cent in 2050.
“At the global level, over the next three decades (by 2050), of the 2.1 billion people above 60 years, India would account for a 17 per cent share, indicating a significant demand growth for senior care including housing in the country,” Colliers said in its report.
