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Key Influencer in the Home Care Services Market 2025: Growing Aging Population To Propel Expansion In Home Care Services Market Driver
Home Care Services Market Overview
In the last few years, the market size for home care services has witnessed a significant expansion. With an expected rise from $20.6 billion in 2024 to $22.49 billion in 2025, the compound annual growth rate (CAGR) is projected to be 9.2%. The historic period's growth is due to factors such as an aging population, an increasing preference for home-based care, a rise in chronic diseases, growing awareness and acceptance of these services, along with increasing urbanization.
Anticipated to witness robust growth in the coming years, the home care services market is set to soar to $31.86 billion by 2029, boasting a compound annual growth rate (CAGR) of 9.1%. The escalation projected within this period can be credited to several factors including an increasing elderly populace, surging demand for telehealth utilities, elevating disposable income, growing needs for cleanliness and hygiene, and an expansion in construction operations. The projection period is likely to see significant trends such as advances in technology fusion, smart household healthcare offerings, product evolution, investment in digital solutions, and novel developments in cleaning services.
What Factors Are Propelling the Expansion of the Home Care Services Market?
Expectations are high for the growth of the home care services market due to the ascending number of older individuals in the population. This demographic shift is primarily attributed to a higher life expectancy and a decrease in birth rates. Home care services serve as essential support to the older population, by raising their life quality, keeping them integrated with their communities, and reducing the necessity for fundamental care institutions. This allows for aging in place. The personalized nature of these services enables them to cater to each elderly individual according to their unique needs and lifestyle preferences, putting a strong emphasis on their specific health situation and lifestyle. For example, the United Nations, a US-based intergovernmental organization, projected a more than twofold increase in the number of individuals aged 65 and older by 2023, projected to grow from 761 million in 2021 to 1.6 billion by 2050. This significant increase in the elderly population is anticipated to power the growth of the home care services market.
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Which Businesses Are at the Forefront of Home Care Services Market Development?
Major companies operating in the home care services market are Hospital Corporation of America (HCA) Healthcare Inc., Right at Home Inc., Brookdale Senior Living Inc., Brightstar Group Holdings Inc., Interim HealthCare Inc., LHC Group Inc., AccentCare Inc., Bayada Home Health Care, Comfort Keepers, ComForCare, Senior Helpers, Amada Senior Care, FirstLight Home Care, Always Best Care Senior Services, Amedisys Inc., Synergy HomeCare Franchising LLC., Griswold Home Care, Family Resource Home Care (FRHC), Maxim Healthcare Services Inc., TheKey, Honor Technology Inc, Visiting Angels Living Assistance Limited
What Are the Latest Innovations in the Home Care Services Market?
Leading businesses in the home care services market are prioritizing the provision of inventive services like In-home hygiene, aiming to improve the overall wellness and life quality of their clientele. This refers to personal grooming and cleanliness maintenance assistance given within a person's residence, enhancing cleanliness and overall health. These services are especially advantageous for individuals needing help due to ageing, disabilities, health issues, or post-operation recovery. For instance, in April 2024, Major Maids House Cleaning Company, a US-based firm delivering home care services, has introduced creative hygiene solutions in Tampa. This move amplifies the firm's dedication to offering premium, secure, and efficient cleaning services, particularly in an era of heightened consciousness about hygiene and sanitation. The services they offer encompasses general house cleaning, deep cleaning, move-in/move-out cleaning, and home organization.
How Is the Home Care Services Market Segmented?
The home care servicesmarket covered in this report is segmented -
1) By Service: Maid Services, Carpet And Upholstery, Other Home Care Services
2) By Duration: Daily, Weekly, Monthly, Quarterly, Annually
3) By Application: Residential, Commercial
Subsegments:
1) By Maid Services: Regular Cleaning, Deep Cleaning, Specialized Cleaning, Senior And Assisted Living Support
2) By Carpet And Upholstery: Carpet Cleaning, Upholstery Cleaning, Stain Removal, Steam Cleaning
3) By Other Home Care Services: Pest Control, Lawn Care And Gardening, Window Cleaning, Home Maintenance and Repair, Pool Cleaning And Maintenance
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Where Is the Home Care Services Market Growth Most Prominent?
Asia-Pacific was the largest region in the home care services market in 2024. The regions covered in the home care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Home Care Services Global Market Report?
- Market Size Analysis: Analyze the Home Care Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Home Care Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Home Care Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Home Care Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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