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Services For the Elderly And Persons with Disabilities Global Market Anticipated to Attain $654.91 Billion By 2028, at 6.7% CAGR | Careplus, Choice Care, SuperCarers, Caritas, Diakonie
Services For the Elderly And Persons with Disabilities Market
As per the report, 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 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%.
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Declining Household Sizes And Aging Populations Drive Growth In Services For The Elderly And Persons With Disabilities Market
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.
Innovations In Assisting The Aging Population
Many companies across the globe are using robots to smoothen the transition of providing care facilities to elderly patients. For instance, Bright Cape, an Eindhoven-based company, has developed SARA, which stands for social and autonomous robotic health assistants. The project is part of the European EIT Digital Innovation Consortium and aims to reduce the workload in healthcare and improve the quality of treatment in general. Japan is installing robots in nursing homes, workplaces, and schools as its population ages and the labor force decline.
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
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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
Contents of the report:
1. Executive Summary
2. Services For the Elderly And Persons with Disabilities Market Report Structure
3. Services For the Elderly And Persons with Disabilities Market Trends And Strategies
4. Services For the Elderly And Persons with Disabilities Market - Macro Economic Scenario
5. Services For the Elderly And Persons with Disabilities Market Size And Growth
…..
27. Services For the Elderly And Persons with Disabilities Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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