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Primary Catalyst Driving Elderly Care Market Evolution in 2025: Growing Geriatric Population Fuels Market Growth Driver
What market dynamics are playing a key role in accelerating the growth of the elderly care market?The growing geriatric population is expected to drive the elderly care market forward. Increased life expectancy, better healthcare, and lower birth rates are contributing to a larger elderly population. Elderly care services help manage chronic diseases and improve life quality for seniors. For example, the global population of people aged 60 and over is projected to increase from 1 billion in 2020 to 1.4 billion by 2022. This demographic shift is fueling the growth of the elderly care market.
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How will the growth rate of the elderly care market shape industry trends by 2034?
The elderly care market is set to grow from $1782.6 billion in 2024 to $1931.98 billion in 2025, at a CAGR of 8.4%. The key drivers are the growing prevalence of elderly diseases, an increasing elderly population, greater awareness of home care services, rising care needs, and the growing awareness of healthcare.
The elderly care market is expected to grow strongly, reaching $2,636.08 billion by 2029 with a CAGR of 8.1%. Factors contributing to growth include the rising availability of healthcare services, increasing chronic diseases, growing awareness of elderly care, demand for elderly care products, and services. Trends include technological advancements, integrated care models, medical device innovations, personalized care plans, AI integration, and smart home technology.
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What trends are poised to drive the future success of the elderly care market?
Companies in the elderly care market are introducing innovative products like healthcare-grade mobile computers to improve patient care, streamline workflows, enhance communication among healthcare providers, and enable better real-time monitoring of elderly patients' health. In November 2023, Zebra Technologies launched new healthcare-grade mobile computers designed to assist caregivers in managing patient data, facilitating smoother workflows, and enabling more effective communication. These devices include advanced technology like long-lasting battery life and improved data capture capabilities, aiming to improve patient outcomes and overall care quality.
Which primary segments of the elderly care market are driving growth and industry transformations?
The elderly care market covered in this report is segmented -
1) By Type: Independent Community Living, Assisted Living, Nursing, In-Home Care, Daycare, Hybrid Care, Palliative Care
2) By Term: Short-Term, Long-Term
3) By Application: Heart Diseases, Diabetes, Arthritis, Cancer, Kidney Diseases, Osteoporosis, Neurological, Respiratory, Other Applications
4) By End-User: Hospitals, Elderly Nursing Homes, Homecare, Other End-Users
Subsegments:
1) By Independent Community Living: Senior Independent Living Communities, Active Adult Communities, Senior Co-Housing, Senior Apartments, 55+ Communities, Retirement Communities With Independent Living Facilities
2) By Assisted Living: Residential Assisted Living Facilities, Assisted Living With Memory Care, Assisted Living With Dementia Care, Assisted Living With Specialized Healthcare Support, Luxury Assisted Living Communities 3) By Nursing: Skilled Nursing Facilities (Snfs), Long-Term Care Nursing Homes, Transitional Care Units, Rehabilitation Centers, Nursing Care For Chronic Illnesses Or Disabilities
4) By In-home Care: Personal Care Assistance, Home Health Aide Services, Home Care For Dementia Or Alzheimer's Patients, Companion Care Services, Hospice And End-Of-Life Care At Home
5) By Daycare: Adult Daycare Centers, Memory Care Day Programs, Social Day Programs, Health And Wellness Day Programs, Specialized Day Programs For Disabled Elderly
6) By Hybrid Care: Combination Of In-home Care And Assisted Living, Telemedicine And Remote Monitoring With In-person Support, Integrative Home Health And Daycare Services, Skilled Nursing With Home Healthcare Services, Residential Care With Telehealth Integration
7) By Palliative Care: Hospice Care Services, Pain Management Services, End-Of-Life Support Services, Comfort And Support Care For Terminal Illnesses, Home-Based Palliative Care
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Which geographical regions are pioneering growth in the elderly care market?
North America was the largest region in the elderly care market in 2024. The regions covered in the elderly care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the elderly care market landscape?
Major companies operating in the elderly care market are Stryker Corporation, Boston Scientific Corp., Orpea Groupe S.A, Interim HealthCare Inc., Right at Home LLC, LHC Group Inc., Bayada Home Health Care Inc., Extendicare Inc., Arjo AB, Exceptional Living Centers, Home Instead Inc., RIEI Co. Ltd., Cascade Healthcare Services LLC, NTUC Health Co-Operative Ltd., Econ Healthcare Group, St Luke's ElderCare Ltd., Rosewood Care Group Inc., Orange Elderly Care Homes, United Medicare Pte. Ltd., Samvedna Senior Care Pvt. Ltd., Singapore Amalgamated Services Co-operative Organisation Ltd. (SASCO), Vesta Elder Care Pvt. Ltd
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What Is Covered In The Elderly Care Global Market Report?
•Market Size Forecast: Examine the elderly care market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the elderly care market for a structured understanding.
•Key Players Overview: Analyze major players in the elderly care market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the elderly care market.
•Segment Contributions: Evaluate how different segments drive overall growth in the elderly care market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the elderly care market.
•Industry Challenges: Identify potential risks and obstacles affecting the elderly care market.
•Competitive Landscape: Review strategic developments in the elderly care market, including expansions, agreements, and new product launches.
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