Press release
Services For the Elderly And Persons with Disabilities Global Market 2024 - Industry Analysis, Future Trends, Segmentation And Key Players
Services For the Elderly And Persons with Disabilities Global Market
The Business Research Company presents an extensive market research report on the Services For the Elderly And Persons with Disabilities Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The services for the elderly and persons with disabilities market size has grown strongly in recent years. It will grow from $471.29 billion in 2023 to $504.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to resulted from decreasing household size, economic growth in emerging markets, increased aging population, technology development and mobile apps, government funding for elder care, increasing prevalence of diseases, and health insurance reforms.
The services for the elderly and persons with disabilities market size is expected to see strong growth in the next few years. It will grow to $654.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing healthcare access, preferring community stay, rapid growth in the aging population, changes in lifestyles and increasing household incomes. Major trends in the forecast period include companies should consider implementing telehealth technologies to improve the quality of care offered to patients, implement electronic technologies to keep track of home health care services and reduce fraud cases, adopt big data technologies and collaborating with analytics companies to gain critical insights on seniors' health, develop customized services to provide individualized care to senior residents with complicated health issues, consider adopting electronic health records to safely store and streamline contact with residents and have timely access to the medical history of the residents, focus on adopting artificial intelligence to provide software solutions that make tasks easier and simpler, adopt robots to smooth the transition of care facilities to elderly patients, consider investing in technologies to efficiently track patient data and provide quality services to senior citizens, should consider using online funding platforms to raise funds for their welfare activities, offer integrated care services to expand their offerings and attract a greater number of customers and focus on providing services virtually and adapting to the dynamic environment caused by the covid-19 pandemic..
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Key Market Players:
Major companies operating in the services for the elderly and persons with disabilities market report are CK Franchising Inc, 24 Hour Home Care, Home Instead Inc, SE Health, Right at Home Inc., Living Assistance Services, Synergy Home Care, Happier At Home, Senior Helping Seniors, Home Care Assistance, Yingtan Hejia Xiangyi Retirement Industry Development Co. Ltd.,, Shouyang County Xiyang Honglaonian Retirement Service Co. Ltd.,, Avalon Health Care,, Careplus, Choice Care, Care Without Compromise Ltd., SuperCarers, Caritas, Diakonie, German Red Cross and the Paritätische, AssiDom, Oxehealth, Orpea Groupe, CARP Omenia, ProMedicus Home Care Services, ABOS Care Elderly Home IASI SRL , Fushoukang (Shanghai) Medical Elderly Care Service Co. Ltd.,, BAYADA Home Health Care, Home Instead Senior Care, GreatAupair, ICare , Brookdale Senior Living Inc., Senior Care Centers of America, Sunrise Senior Living, Home Bound Healthcare , AddusHomeCare, Interim HealthCare of Lubbock, Phoenix Home Care Agenc, Manzil Health, Pioneer Medical Services LLC. , Aamer Home Healthcare Center, Greymate Care, Bluegate homecare,, AnsMed Home Care Limited
Market Drivers:
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, in November 2022, according to the Public Policy Institute of California a US-based non-profit institute, The average number of people per household experienced a significant decrease at the beginning of the pandemic, reaching 2.85 in 2021. It continued to decline, dropping by a further 1.4% to 2.81 in 2022. Also, the surge in the aging population is generating higher demand for services for elderly people, thereby propelling the revenues of the market. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. The number of persons who are 80 years of age or older will increase by 426 million between 2020 and 2050 compared to the current population. The need for care for the aging population creates a demand for services for the elderly and disabled, which, in turn, drives the growth of services for the elderly and persons with disabilities market.
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https://www.thebusinessresearchcompany.com/report/services-for-the-elderly-and-persons-with-disabilities-global-market-report
The services for the elderly and persons with disabilities market covered in this report is segmented -
1) By Type of Service: Institutional Care, Adult Day Care, Home Care
2) By Service Provider: Public Expenditure, Private Expenditure, Out of Pocket Spending
3) By End User: Elderly, Disabled Adults
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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