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Prominent Services For the Elderly And Persons with Disabilities Market Trend for 2025: Innovative Case Management Raises Awareness Promotes Independence And Connects Communities
services for the elderly and persons with disabilities Market Size
The shrinking size of households and a swiftly aging populace is expected to contribute to the expansion of the market for services for the elderly and persons with disabilities. The reduction in household size is due to fewer individuals residing as a family. For example, data from the Public Policy Institute of California, a non-profit US-based institution, showed a significant decrease in the average number of individuals per household at the onset of the pandemic, dropping to 2.85 in 2021. The decline continued, with a further contraction of 1.4% to 2.81 in 2022. In addition, the growing number of elderly people is creating an increased need for services catered towards them, thereby stimulating market revenue. A report released by the World Health Organization (WHO), a Switzerland-based global public health agency, in October 2022 indicated that by 2030, one out of every six people around the world will be 60 or older. By 2050, this translates to a global population of 2.1 billion individuals aged 60 or above. The number of individuals aged 80 or older will see an increase of 426 million between 2020 and 2050 in comparison to the current population. This burgeoning elderly population necessitates care and services for the elderly and disabled, thereby propelling the growth of the market for services for the elderly and persons with disabilities.
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What growth opportunities are expected to drive the services for the elderly and persons with disabilities market's CAGR through 2034?
The market for services aimed at the elderly and those with disabilities has seen significant expansion in recent years. Where it stood at a market size of $454.5 billion in 2024, it is anticipated to further rise to $489.31 billion in 2025. This suggests a compound annual growth rate (CAGR) of 7.7%. Several factors have accounted for this growth during the historical period, including reductions in household size, the growing economies of emerging markets, an escalating aging population, the advancement of technology and the advent of mobile apps, governmental financial support for elder care, a rise in disease prevalence, and reforms in health insurance.
There is a prediction for significant expansion in the market for services catering to the elderly and individuals with disabilities over the coming years. The anticipated growth is set to reach $645.71 billion in 2029, with a compound annual growth rate (CAGR) of 7.2%. The augmented growth during the forecast period is primarily due to wider healthcare access, favoritism towards communal living, accelerated growth in the aged population, alterations in life patterns, and raising household revenues. Some key trends during this period will incorporate the use of digital technology to monitor home healthcare services, the creation of tailor-made services to cater to elderly residents with complex health conditions, the adoption of artificial intelligence and robots to ease the shift of care facilities for senior patients, investments in technology to streamline patient data tracking, extending quality service provisions to the elderly, providing integrated care services to diversify and attract a larger customer base, and swiftly adapting to the new norms brought about by virtual services amid the COVID-19 pandemic.
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What are the most significant trends transforming the services for the elderly and persons with disabilities market today?
Leading businesses in the market for services for individuals with disabilities and the elderly are channeling their focus towards pioneering methods such as compassionate case management awareness. This initiative is aimed at elevating consciousness, nurturing independence and linking a broader spectrum of people with complex requirements and disabilities to necessary support services in diverse communities. The essence of compassionate case management awareness lies in acknowledging and nurturing the significance of empathy, understanding and support in managing cases to improve the quality of patient care and consequently, their outcomes. Service Coordination, Inc., a nonprofit organization based in the US, in October 2024, unveiled a new public service announcement (PSA) called "Improving Communities Through Care and Compassion." The primary intention of this PSA is to ensure people are aware of the organization's dedication to offering personalized case management services for people dealing with disabilities and intricate medical requirements, with a strong emphasis on choice and independence. By broadcasting this PSA on leading networks in all 50 states, the initiative remarkably bolsters community outreach, ensuring more people have access to necessary resources and support services, which can significantly enhance their quality of living.
Which growth-oriented segments of the services for the elderly and persons with disabilities market are leading the industry's development?
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
Subsegments:
1) By Institutional Care: Nursing Homes, Assisted Living Facilities, Rehabilitation Centers
2) By Adult Day Care: Social And Recreational Programs, Medical Supervision And Assistance, Meal Services And Transportation
3) By Home Care: Personal Care Services, Companionship Services, Skilled Nursing Services
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What regions are leading the charge in the services for the elderly and persons with disabilities market?
Western Europe was the largest region in the services for the elderly and persons with disabilities market in 2024. Asia-Pacific was the second-largest region in the global services for the elderly and persons with disabilities market share. The regions covered in the services for the elderly and persons with disabilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the services for the elderly and persons with disabilities market?
Major companies operating in the services for the elderly and persons with disabilities market include 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, 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 Agency, Manzil Health, Pioneer Medical Services LLC., Aamer Home Healthcare Center, Greymate Care, Bluegate homecare, AnsMed Home Care Limited
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What Is Covered In The Services For the Elderly And Persons with Disabilities Global Market Report?
• Market Size Forecast: Examine the services for the elderly and persons with disabilities market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the services for the elderly and persons with disabilities market for a structured understanding.
• Key Players Overview: Analyze major players in the services for the elderly and persons with disabilities market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the services for the elderly and persons with disabilities market.
• Segment Contributions: Evaluate how different segments drive overall growth in the services for the elderly and persons with disabilities market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the services for the elderly and persons with disabilities market.
• Industry Challenges: Identify potential risks and obstacles affecting the services for the elderly and persons with disabilities market.
• Competitive Landscape: Review strategic developments in the services for the elderly and persons with disabilities market, including expansions, agreements, and new product launches.
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