Press release
Elder Care Products Market projected to expand at a healthy 5.4% CAGR and Revenue is set to reach US$ 38.61 Bn by the end of 2032
Revenue from the global elder care products market reached US$ 25.27 Bn at the end of 2021. With the market projected to expand at a healthy 5.4% CAGR, global industry valuation is set to reach US$ 38.61 Bn by the end of 2032.
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One of the major trends in the elder care products market is the shift towards home-based care. Many elderly people prefer to receive care in their own homes, rather than in hospitals or nursing homes. This has led to the development of a wide range of home-based elder care products, including medical devices, home safety products, and personal care products. These products are designed to improve the quality of life of elderly people and allow them to maintain their independence and dignity.
Another trend in the market is the increasing use of technology to improve elder care. Advances in technology, such as telemedicine, wearable devices, and remote monitoring systems, have made it easier for healthcare providers to deliver care to elderly people, even when they are not physically present. This technology can also improve communication between healthcare providers, patients, and their families, which can help to improve the overall quality of care.
Companies
Unicharm
Invacare Corporation
Thermo Fisher Scientific Inc.
Cardinal Health
Abbott Laboratories
3M company
B Braun Melsungen AG
GlaxoSmithKline Limited.
Bayer AG
Procter & Gamble
Stryker Corp
Koninklijke Philips N.V.
GE Healthcare (General Electric)
Mölnlycke Health Care AB
The Golden Concepts
Amway Enterprises
Smiths Group PLC
Honeywell International Inc.
McKesson Corporation
Kimberly-Clark Corporation
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Despite the promising outlook, the elder care products market is not without its challenges. One of the major obstacles is the high cost of elder care products and services. Many elderly people have limited financial resources, which can make it difficult for them to access the care they need. In addition, there is a shortage of skilled healthcare workers who specialize in elder care, which can make it difficult to provide high-quality care to all those who need it.
Overall, the elder care products market is poised for significant growth in the coming years, driven by a combination of demographic trends, changing attitudes towards aging, and advances in technology. As manufacturers and healthcare providers continue to develop new and innovative products and services for elderly people, the market is likely to expand even further, offering new and exciting opportunities for growth and innovation.
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Key Segments Covered in Elder Care Products Industry Research
Elder Care Products Market by Product Type:
Incontinence Products
Consumables
Assistive devices
Nutritional Supplements
Elder Care Products Market by Type of Care:
Home Care
Chronic Illness Care
Elder Care Products Market by End User:
Hospitals
Nursing Care Facilities
Home Health Care
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