Research report presented by UnivDatos, Emphasis on Service Type (Institutional care, Adult day care, Home-based care), Funding Source (Public expenditure, Private expenditure, Out-of-Pocket Spending), Service provider (Public, Private) and Geographical analysis (key regions and countries).
As per the research report, The Global Elderly Care Services Market is anticipated to grow at a market worth of US$ 1,744.6 billion by 2025, expanding at a CAGR of 8.31% during the forecast period 2019-2025. The need for residential care services, among other things, is due to the rising ageing population and associated age-related diseases. Furthermore, due to a scarcity of qualified labour, an increase in the number of applications dependent on Tele-awareness and the adoption of carebots would be a new upcoming development in this sector. Elder Care specialises in senior care programmes such as housekeeping, homemaker services, physical therapy, occupational therapy, and nursing care, among others. Institutional treatment, day-care, group care, and home care are also options for providing these programmesElder Care specialises in senior care programmes such as housekeeping, homemaker services, physical therapy, occupational therapy, and nursing care, among others. Institutional treatment, day-care, group care, and home care are also options for providing these programmes. During the forecast timeframe, home-based treatment is predicted to be the fastest-growing service class.
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Aging is a worldwide occurrence. Around the globe, the ageing population is rapidly growing. In addition, from 72.4 years in 2014 to 73.5 years in 2019, life expectancy has risen. This would bring the overall number of people over the age of 65 to over 605 million, accounting for 11% of the global population. Furthermore, average life expectancy is projected to rise to 85 years in 2040, up from 75-80 years now, resulting in a significant increase in the number of individuals aged 80 and up, as well as their share in the total population. The ultimate driving force for a rising business sector is an ageing population, which, according to estimates, is growing over time. In the coming years, senior care and home care provider companies will have ample potential. Long-term illnesses affecting the elderly, such as Parkinson's disease, Alzheimer's disease, and dementia; multiple sclerosis; chronic obstructive pulmonary disease (COPD); and heart failure, are on the rise all over the world. The aim of rehabilitation interventions in a group environment to sustain and enhance the physical and functional fitness of older adults is thought to improve well-being and quality of life. Healthcare is a fundamental need for everyone; nevertheless, the high cost of healthcare makes it impossible to pay. The process of obtaining grants and financial assistance is very complicated. When people age, their welfare deteriorates as a result of impairment, and they spend a lot of money on it. There are three categories of taxation or financing: state investment, private expenditure, and out-of-pocket expenditure. Furthermore, the government is growing spending on elderly welfare in order to provide facilities to this segment of society and extend their years of happy and healthy life.
For Regional/country-wise analysis of the overall demography and impact of aging population browse through https://univdatos.com/report/elderly-care-service-market-current-scenario-and-forecast-2019-2025
Based on the service form Institutional nursing, Adult day care, and home-based care are the three types of aged care services available globally. Because of the fast penetration of these services, the Institutional Care sector is expected to expand rapidly and to lead the market by 2025. The demand for elderly care services is divided into three categories depending on funding sources: federal, private, and out-of-pocket. The biggest share went to government spending, which is projected to continue during the projection period of 2019-2025. A research is undertaken for large aged demographic regions/countries to do a deep-dive review of total acceptance and penetration of the elderly care sector. North America (US), Europe (France, Germany, Spain, Italy, UK), Asia-Pacific (Japan, China, Australia, India), and the Rest of the World are the major regions/countries studied. Europe already has a 37.2 percent share of the market in 2018. The main driving force is the high incidence of age-related illnesses and the growing elderly population, as well as widespread public knowledge.
Some of the major players in the Global Elderly Care Service sector are Benesse Holdings Inc., Amedisys Inc., St Luke's Eldercare Ltd., Brookdale Senior Living Inc., Econ Healthcare Group Inc., Bayada Home Health Care, Epoch Elder Care, Kindred Healthcare LLC, Nichii Gakkan Co. Ltd., and ApnaCare Private Limited. These players are coming up with new approaches and creative items for elderly home care in response to the ageing population trend. They're also forming strategic partnerships to broaden their presence and client base. These players have engaged in a number of mergers and acquisitions as well as alliances in order to provide customers with high-tech and creative products. Some of these companies are now widening their operations by opening new elder care homes and community centres, as well as increasing their R&D spending.
Global Elderly Care Market Segmentation
Market Insights, by Service Type
Market Insights, by Funding Source
Market Insights, by Service provider
Market Insights, by Region
North America Elderly Care Service Market
Rest of North America
Europe Elderly Care Service Market
Rest of Europe
Asia-Pacific Elderly Care Service Market
Rest of APAC
Rest of the World Elderly Care Service Market
Top Company Profiles
Benesse Holdings 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
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Elderly Care Market can be customized to the country level or any other market segment.