Elderly Care Market is Growing With the CAGR of 7.0% in 2020-2027 | The market leader Koninklijke Philips N.V accounts an estimated market share of approximately 25.0% to 27.0% in the Asia-Pacific region
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Global Elderly Care Market has shown an exceptional penetration in countries such U.S., China and Germany as these countries have high geriatric population associated with number of diseases such as diabetes, cardiovascular disease, infectious disease and others. Elderly care helps aged population with care and provides better services to them and hence, its demand is increasing due to which the market is growing. Some factors such high cost requirement for the elderly care in developing countries and low penetration of its services among people is hampering growth of the market.
Elderly Care Market Scenario
According to Data Bridge Market Research the market for elderly care in North America region has the highest market share followed by Europe and Asia-Pacific. The market leader Koninklijke Philips N.V accounts an estimated market share of approximately 25.0% to 27.0% in the Asia-Pacific region. The company has involved in taking strategic decision in order to increase their business as well as strengthening their position in market. For instance, In November, Philips India Ltd has expanded its healthcare home services sector which is involved in providing extensive services and high-quality health care facilities at home.
Trends impacting the market
Now the question is which are the other regions that Koninklijke Philips N.V., Right At Home LLC., Bayada home health care are targeting? Data Bridge Market Research has forecasted a large growth in Asia-Pacific and the market leaders targeting China and Japan to be their next revenue pockets for 2020.
Elderly Care Market is becoming more competitive every year with companies such as Koninklijke Philips N.V. and Bayada Home Health Care are the market leaders for elderly care. The Data bridge market research new reports highlight the major growth factors and opportunities in the elderly care market.
Elderly Care Market Development in 2019
In January 2019, Koninklijke Philips N.V. has launched an app-based hub that can be used in companies related to senior caretaking products. Incorporation of these products by the company would eventually lead to an enhancement of their senior care products into a single digital platofrm for family caretakers. This product launch has increased the company's portfolio and also enhanced the customer base.
Scope of the Elderly care Market
Elderly care market is segmented on the basis of countries into U.S., Canada, Mexico, Brazil, Rest of South America, Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Turkey, Israel, Switzerland, Rest of Europe, China, Japan, India, Australia, Singapore Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific (APAC), South Africa and rest of middle East and Africa (MEA).
All country based analysis of elderly care market is further analyzed based on maximum granularity into further segmentation. On the basis of product type, the market is segmented into pharmaceuticals and housing and assistive devices. On the basis of service, the market is segmented into homecare, institutional care and adult day care. On the basis of application, the market is segmented into heart diseases, respiratory, diabetes, osteoporosis, cancer, neurological, kidney diseases, arthritis and others.
The elderly care services and assistive devices are used to provide proper care to senior citizen associated with various diseases including chronic diseases, heart disease, diabetes, mental disorders such as dementia and others.
Global Elderly Care Market
Key Pointers Covered in the Global Elderly Care Market Industry Trends and Forecast to 2027
Regulatory framework and changes
Market Shares in different regions
Recent developments for market competitors
Recent market value for different regions
Sales data for market Competitors
Market Key vendors and disruptors study
Market Supply chain competiveness
Value chain analysis
Key Market Competitors Covered in the Report
Right at Home, LLC
Koninklijke Philips N.V
BAYADA Home Health Care
Econ Healthcare Group
Home Instead, Inc
St Luke's Eldercare Ltd
Rosewood Care Group
Interim HealthCare Inc
United Medicare Pte Ltd
Exceptional Living Centers
Living Assistance Services, Inc
LHC Group, Inc
Encompass Health Corporation
FC Compassus LLC
Research Methodology: Elderly Care Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Hospitals, Laboratories, Academic Institutions, Ambulatory Centers, Nursing Homes among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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