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Adult Day Care Market Analysis: Industry Size, Share, and Trends in the Comprehensive 2024 Report
Adult Day Care Global Market Report 2024
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According to The Business Research Company's, The adult day care market size has grown strongly in recent years. It will grow from $15.91 billion in 2023 to $16.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in need for transitional care, shift from traditional family structure to nuclear families, increase in the demand for home and community-based care (HCBC), growth in awareness regarding elderly care, and growth in adult care centers.
The adult day care market size is expected to see strong growth in the next few years. It will grow to $21.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising chronic conditions, increasing life expectancy, increasing global geriatric population, demand for effective healthcare services for the elderly, and increasing disorders such as dementia and Alzheimer's in the elderly. Major trends in the forecast period include technological advancements, advancements in mental health solutions, creative teaching to the children, customized care programs, and advancements in adult day care technologies.
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Market Drivers and Trends:
The increasing number of people with Alzheimer's disease is expected to propel the growth of the adult day care market going forward. Alzheimer's disease is a progressive neurological disorder that causes memory loss, cognitive decline, and reach to notion of inability to perform daily activities. Alzheimer's disease is driven by a combination of biological processes, including the accumulation of amyloid plaques and tau tangles, genetic predispositions, inflammatory responses, and other factors that lead to the progressive loss of neurons and cognitive function. Adult day care services assist people with Alzheimer's by providing structured activities, specialized care, and social interaction in a safe environment, which helps manage symptoms, improve quality of life, and support caregivers. For instance, in May 2024, according to the Office for National Statistics Census, a UK-based government agency, in 2023, dementia and Alzheimer's disease were the leading causes of death in England and Wales, accounting for 66,876 deaths (11.5%), up from 65,967 deaths (11.4%) in 2022. Therefore, the increasing number of people with Alzheimer's disease is driving the adult day care market.
Major companies operating in the adult daycare market offer innovative services integrated with memory care therapies to enhance the quality of life for seniors. Innovative services integrated with memory care therapies utilize personalized approaches and therapeutic activities designed to enhance cognitive function, emotional well-being, and social engagement for individuals with memory impairments. For instance, in December 2022, Town Square Sandy Springs, a US-based adult day center, opens an innovative Town Square adult daycare and memory care center. Town Square Sandy Springs is an innovative adult daycare center that offers a nostalgic 1950s-themed environment designed to engage seniors, particularly those with memory impairments. The center provides personalized care plans and therapeutic activities aimed at enhancing cognitive function and emotional well-being. By integrating reminiscence therapy and social interaction, Town Square Sandy Springs creates a supportive community for older adults, promoting their overall health and happiness.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Orpea Group, Home Instead Inc., Trinity Health Corporation, Koninklijke Philips N.V., Encompass Health Corporation, Bayada Home Health Care Inc., Interim HealthCare Inc., Brookdale Senior Living Inc., BrightStar Care, Amedisys Inc., LHC Group Inc., FC Compassus LLC, Extendicare Inc., Exceptional Living Centers, Age U.K., Rosewood Care Group, St Luke's ElderCare Ltd., Living Assistance Services Inc., Caring People Inc., Right at Home LLC, Senior Care Centers of America, Ascension Living Saint Joseph, SH Town Square Franchising Inc., United Medicare Pte Ltd
Adult Day Care Market 2024 Key Insights:
• The adult day care market size is expected to see strong growth in the next few years. It will grow to $21.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Alzheimer's Disease Cases Drive Growth in the Adult Day Care Market
• Innovative Memory Care Solutions Elevate Adult Daycare Services
• North America was the largest region in the adult day care market in 2023
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