The stigma of old age home needs a change: G.Srinivasan, CEO, Athulya.
According to the study, almost every city has a minimum of 50,000 to 1 lakh people who require healthcare or assisted living care at the moment.
Shahid Akhter Editor,ET Healthworld,spoke to G.Srinivasan,CEO,Athulya Assisted Living Pvt Ltd., to know more about challenges associated with geriatric care and how Athulya's strategy is making a difference.
Geriatric Care:Market trends
The trend is now increasing to handle elderly healthcare related to either their home healthcare, theirphysical healthcare, their mental healthcare, or their personal care afterword. the age group is evolving repidly. Intially, if you see that, the overall policies,process,and even the amount of awareness about geriatrics across the country were very limited.But, in the last five years,we see that the concept has evolved everywhere.Awareness of geriatrics is increasingnow. So,it can be in a product,in healthcare,in personal care,even in real estate care. Eberywhere now,people are talking about geriatrics. We call it senior citizens or elder care,or geriatrics.
The concept is evolving because there is going to be a bigger market share. When you say 13 percent of the overall population,that is going to be very,very big market share where they need all things. They are a must for health care.they're a must for personal care.they're essential for home care and is important.For them it is an option. The percentage of people who are going to use homecare,the percentage of people who are going to use homecare for themselves,assisted living care at the moment or ant kind of care is going to be very, high high.According to the study almost every city has a minimum of 50,000 to 1 lakh people who require homecare or assisted living at present. We have a hundred major cities in India.Imagine the number of minimum markets. That is what we are talking about today. So, even if you take 100 multiplied by 1 lakh.The number of people with awareness and affordability is increasing.The policies are increasing, Paying capasity is increasing. So,the market is going to be 10 times multiplyed by ten in the next five years time. The market is huge when it comes to SENIOR CITIZENS.
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