2020 Global Services For the Elderly And Persons with Disabilities Market Outlook Highlights Major Opportunities by 2030
The global services for the elderly and persons with disabilities market is expected to grow from $369.4 billion in 2019 to $390 billion in 2020 at a compound annual growth rate (CAGR) of 5.6%. The growth has slowed down mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $520.9 billion in 2023 at a CAGR of 10.12%.
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The services for the elderly and persons with disabilities market consists of the revenues from elder and disabled people services by entities that provide social assistance services to improve the quality of life for the elderly, persons diagnosed with intellectual and developmental disabilities, or persons with physical disabilities.
The decreasing household size coupled with a rapidly aging population is anticipated to aid in the growth of the services for the elderly and persons with disabilities market. The decline in household size is attributed to the reduced number of people living as a family. For instance, according to the census bureau estimates, the average household size in the United States was 2.52 people in 2019, down a quarter from the baby boom-era average of 3.36. One-person households account for 28.4% of the US total in 2019, up from 13.1% in 1960. Also, the surge in the aging population is generating higher demand for services for elderly people, thereby propelling the revenues of the market. According to the United Nations Department of Economic and Social Affairs’ report published on World Population Ageing 2019, there were 703 million persons aged 65 years and above in 2019 and this number is likely to double to 1.5 billion people by 2050.
Services For the Elderly And Persons with Disabilities Market Segmentation: -
By Service Type
By Service Provider
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Few Points From Table Of Content
1. Executive Summary
2. Services For the Elderly And Persons with Disabilities Market Characteristics
3. Services For the Elderly And Persons with Disabilities Market Size And Growth
4. Services For the Elderly And Persons with Disabilities Market Segmentation
5. Services For the Elderly And Persons with Disabilities Market Regional And Country Analysis
25. Services For the Elderly And Persons with Disabilities Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Services For the Elderly And Persons with Disabilities Market
27. Services For the Elderly And Persons with Disabilities Market Trends And Strategies
28. Services For the Elderly And Persons with Disabilities Market Future Outlook and Potential Analysis
The report covers the trends and market dynamics of the Services For the Elderly And Persons with Disabilities Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Services For the Elderly And Persons with Disabilities Market are CK Franchising Inc., Right at Home Inc., Home Instead Inc., Living Assistance Services, Brookdale Senior Living Inc., Senior Care Centers of America, BAYADA Home Health Care.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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