Tuesday, November 12, 2019

Global Elderly Care Service Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025

Demand for elderly care service has grown immensely over the past few years, owing to the increasing demand for residential care facilities, escalation in the world's geriatric population and the occurrence of age-related disorders. Moreover, the lack of skilled labor is leading to the adoption of care bots and upsurge in the number of mobile applications centered on tele-awareness will mark as a trend in this industry. The main focus of elderly care services is to provide care services to the aging population. These services include homemaker service, housekeeping, occupational therapy, physical therapy, and nursing services among others. The popularity of these services is escalating among adults due to time constraints with their children and growing awareness among individuals. These services are bifurcated into institutional care, community care, day-care or home care. Additionally, seniors anticipate a high standard of living in their old age. This will raise the adoption of Elderly/senior care services and will result in the rising entry of players in this domain and will change the eldercare market scenario. In 2018, the Global Elderly Care Service Market was dominated by Institutional care and is anticipated to generate a market size of US$ 1,197.5 billion by 2025. Home-Based care is anticipated to be the fastest-growing service type during the forecast period.

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Healthcare is the fundamental necessity of every individual however; the soaring cost of healthcare makes it unaffordable for several people. The route to financial aid and funding is extraordinarily complex. Aging leads to declining health due to impairment and thus leads to huge expenditure on health-related issues. The financing or spending can be of three types namely, private expenditure, public expenditure, and out-of-pocket expenditure. Governments around the globe are increasing their expenditure on elderly care by providing this section of society with amenities and rising their years of happy and comfortable living. The global elder care service market is projected to gain market revenue of US$ 1,744.6 billion by 2025, growing at a CAGR of 8.31% during the forecast period 2019-2025. Elder people with chronic and long-term conditions such as neurological diseases that majorly include dementia, Alzheimer’s and Parkinson's disease; Chronic Obstructive Pulmonary Disease (COPD); multiple sclerosis; heart failure, are rising all over the globe. A focus on improving and maintaining the functional and physical health of seniors through therapeutic interventions within a community setting meeting others are thought to enhance the well-being and quality of life.

For in-depth understanding of the market and overall adoption of elderly care service, detailed analysis has been done for major region/country including North America (the U.S and rest of North America), Europe (Germany, Spain, the U.K., France, Italy and Rest of Europe), Asia-Pacific (Japan, India, China, Australia and rest of Asia-Pacific), and Rest of World. Due to the rising awareness towards elderly care services and high government expenditure on senior care Europe dominates the Elderly Care market globally, with market size of US$ 372.7 billion in 2018. Further, the rise in the geriatric population in North America, as well as Asia-Pacific are estimated to fuel the Elderly Care market in both the regions in the upcoming years.

For analysis of the overall adoption and penetration of elderly care service around the globe please visit: - Elderly Care Service Market

Some of the major players profiled in the global Elderly Care study include Amedisys, Inc., Benesse Holdings Inc., St Luke's Eldercare Ltd., Bayada home health Care., Brookdale Senior Living Inc., Nichii Gakkan Co. Ltd, Econ Healthcare Group, Kindred Healthcare, Inc., Epoch Elder Care and ApnaCare Private Limited. These players are entering into several mergers & acquisitions and partnerships for the expansion of their reach and increasing their hold on the market and to also provide an older population with better services.

Global Elderly Care Market
Market Segmentation


 Market Insights, by Service Type
Institutional care
Adult daycare
Home-based care

Market Insights, by Funding Source
Public expenditure
Private expenditure
Out-of-Pocket Spending

Market Insights, by Service provider
Public
Private

Market Insights, by Region
North America Elderly Care market
United States
Rest of North America

Europe Elderly Care market
Germany
Spain
The U.K.
France
Italy

Asia Pacific Elderly Care market
Japan
India
China
Australia

Rest of the World Elderly Care market
Company Profiles
Benesse Holdings Inc.
Amedisys, Inc.
St Luke's Eldercare Ltd.
Brookdale Senior Living Inc.
Bayada home health Care
Econ Healthcare Group
Epoch Elder Care
Kindred Healthcare, Inc.
Nichii Gakkan Co. Ltd
ApnaCare Private Limited

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UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Elderly Care Service Market can be customized to the country level or any other market segment.

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posted by Himanshu Patni @ November 12, 2019   2 Comments

2 Comments:

At April 22, 2022 at 11:45 AM , Blogger George said...

Go through our official Assisted Living Wixom website where you can find all useful information about the services. We understand your concern and hence our team are trained in such a manner that they can take care of every mom in best possible manner.

 
At April 27, 2022 at 7:41 PM , Blogger George said...

Senior care giving services are very demanding these days There are many professional services providers available in the market who are making such services easy for common people. There are trained Memory Care Commerce Township and skilled professionals available who will make things easy and take care of your mom. After certain age every individual need assistance, be it taking medicines or for normal day to day care.

 

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