Elderly may account for 25% of India’s pharma mkt in 2-3 decades

‘The ‘silver generation’ will account for at least one-fourth of the pharma and healthcare market in the next two-three decades, according to market research firm Pharmarack.

- SOHINI DAS

India is entering a decisive demographic transition that will redefine demand across healthcare, finance, insurance, housing, and consumer services over the next several decades. Though the 60-plus group makes up only about 10 percent of India’s population, it already contributes close to 17 per cent of the pharma market because almost every senior citizen is on long-term therapies like antihypertensives.

“As the proportion of the 60-plus population increases, their contribution to the Indian pharma market will rise sharply. I estimate the silver generation will account for at least one-fourth, and possibly one-third, of the market in the next two to three decades,” says Sheetal Sapale, vice-president, commercial, Pharmarack.