Press release
The Elder Care Services Market to see digitized data collection at a CAGR of 7.6%
Market Overview:
Revenue from worldwide elder care services reached US$ 1.23 Bn at the end of 2021. As per detailed analysis, the global elder care services market is anticipated to expand at a CAGR of 7.6% and reach US$ 2.56 Bn by 2031-end.
According to in-depth industry analysis conducted by Persistence Market Research, a majority of elder care services are financed through public expenditure, which accounted for 65.5% of the global senior care market share. Elder care services accounted for less than 1% of the global healthcare services market in 2021.
According to latest projections, institutional care is the most preferred way of accessing elder care services and holds more than 70% share in the market.
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Companies:
Eldercare Services
Korian Group
ProVita International Medical Center, L
Home Instead, Inc
Living Assistance Services, Inc.
Benesse Style Care Co,, Ltd
Econ Healthcare Group
Epoch Elder Care
St Luke's ElderCare Ltd
India Home Health Care
Samvedna Senior Care
ApnaCare India Private Limited
Nichiigakkan Co. Ltd
Drivers and Restraints:
The Elder Care Services market is expected to experience growth in the coming years, driven by the aging population and the increasing need for healthcare services for the elderly. The growing awareness among people about the benefits of elderly care services is also contributing to the market's growth. On the other hand, the high cost of elderly care services and the shortage of skilled healthcare professionals are likely to restrain the market's growth. Moreover, the lack of standardization in elderly care services and the availability of alternate home care services are also factors that may impede the market's growth. Despite the challenges, the market is expected to grow due to the increasing demand for elderly care services in both developed and developing countries.
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Key Segments Covered in Elder Care Services Industry Survey
Elder Care Services Market by Service:
Home-based Care
Community-based Care
Institutional Care
Elder Care Services Market by Financing Source:
Public Expenditure
Private Source
Out-of-Pocket Spending
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About Us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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