Why? Productivity continues to increase, regardless of population increasing. It's like saying we can do more with less everywhere, except when it comes to taking care of people and the elderly.
self driving cars may be limited but they will be a great solution for the elderly
Specifically, if there are socialized "assisted living" facilities, or even in-the-community caregiver visitation, then the amount of caregiving work-hours per day per elderly person is X. If the only possible arrangement is getting a live-in personal care-giver, then that figures is 2X or 3X (or some factor, I don't have the figures); and most people probably just don't get care.