Healthcare
Comprehensive assessment of elderly care market
08 Apr 2020
Context
- Company Description: A large Indian hospital chain
- Opportunity: The client was suffering from lower sales growth and wanted to explore further revenue potential of core and non-core offerings. We studied the elderly care market in detail to understand its viability for the client.
Our Approach
- We landscaped the entire elderly care market to understand the various startups and business models
- We spoke to several customers to understand their pain points and identify appropriate services in elderly creches
- We estimated revenue potential of elderly creches in the next 5 years and studied the GTM implications for the client
Key Insights / Outcomes
Children cannot take care of parents during the day due to office / business work
Elderly people (especially without spouses) are more prone to depression and other mental ailments
Untrained maids or servants cannot take appropriate care of elderly people at home
Praxis Value Delivered
We estimated that elderly existing real estate setups along with mid-scale centers can facilitate elderly care services with a high market size potential
- We devised an integrated health care delivery model for elders across chronic disease profiles that combines the five forces of delivery, diagnostics, pharma, devices, and wellness into a holistic single care oriented model
- Apart from that, we also estimated the quite sizable home care services for elderly across therapeutic use cases that cannot come to daycare centers
- We mapped the pharmacy services segment for elders who need to take regular medicines
- Finally, we evaluated the lifestyle products segment such as bathroom aids and hobby products which are another attractive investment avenue as per our analysis
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