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Global Services For the Elderly And Persons with Disabilities Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Services For the Elderly And Persons with Disabilities
What Is the Services For the Elderly And Persons with Disabilities Market Size and Projected Growth Rate?
The market size for services catered towards the elderly and disabled individuals has witnessed a robust growth over the past few years. In fact, it's projected to expand from a worth of $454.5 billion in 2024 to an impressive $489.31 billion in 2025, signalling a compound annual growth rate (CAGR) of approximately 7.7%. A multitude of factors have contributed to this increase during the historic period. This includes the shrinking of average household size, burgeoning economic growth in emerging markets, a rise in the aged population, advancements in technology and mobile applications, ramped up government funding for elderly care, a surge in disease prevalence and crucial reforms in health insurance policies.
The market size for services catering to the aged and people with disabilities is projected to witness robust expansion over the next few years, escalating to a value of $645.71 billion in 2029, with a compound annual growth rate (CAGR) of 7.2%. Factors contributing to this projected surge include enhanced healthcare accessibility, a preference for community living, a rapid increase in the elderly populace, shifts in lifestyle, and burgeoning household earnings. Key trends foreseen in the forecast period encompass the utilisation of electronic technologies for managing home health care services, formulating personalised services to attend to the complex health concerns of senior residents, a focus on implementing artificial intelligence, the use of robots to enhance the conversion of care facilities for the elderly, investments in technology to adeptly monitor patient information and deliver premium services to the elderly. Businesses are also seen to expand their services through integrated care to attract a larger client base while also adapting to virtual service provision amid the changing landscape brought about by the COVID-19 pandemic.
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What Are the Major Segments in the Services For the Elderly And Persons with Disabilities Market?
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 Are The Driving Services For the Elderly And Persons with Disabilities Market Evolution?
The services for the elderly and persons with disabilities market is expected to grow, driven by factors such as shrinking household sizes and a swiftly aging population. The decrease in household size is due to fewer people living as a family unit. For example, statistics from the Public Policy Institute of California, a US non-profit organization, showed that the average number of individuals per household markedly decreased at the onset of the pandemic, reaching 2.85 in 2021. This trend continued, with a further reduction of 1.4% to 2.81 in 2022. The services for the elderly and disabled are also experiencing a surge in demand as a result of the increasing elderly population, further contributing to the market's revenue growth. For example, in October 2022, the World Health Organization (WHO), a Swiss-based international public health agency, reported that one in six people worldwide is expected to be 60 or older by 2030. By 2050, this figure is projected to reach 2.1 billion, while those aged 80 or older will increase by 426 million between 2020 and 2050, compared to the current population. This growing need to cater for the aging population translates to a higher demand for services aimed at the elderly and disabled, consequently fueling the growth of the services for the elderly and persons with disabilities market.
Which Firms Dominate The Services For the Elderly And Persons with Disabilities Market Segments?
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
What Are the Major Trends Shaping the Services For the Elderly And Persons with Disabilities Market?
Leading corporations within the market for services for the elderly and people with disabilities are emphasizing innovative techniques such as compassionate case management awareness. This approach aims to enhance awareness, foster autonomy, and link more individuals with disabilities and complicated needs with crucial support services within their communities. Compassionate case management awareness highlights the significance of empathy, comprehension, and assistance in the case management process to improve patient care and outcomes. For instance, in October 2024, Service Coordination, Inc., a nonprofit organization based in the US, initiated a new public service announcement (PSA) called ""Improving Communities Through Care and Compassion."" This PSA seeks to highlight the organization's dedication to delivering personalized case management services for individuals with disabilities and complex medical needs, underscoring the importance of choice and independence. The airing of this PSA on major networks in all 50 states significantly boosts community outreach, connecting more individuals to essential tools and services that can enhance their lifestyle.
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Which Is The Largest Region 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Services For the Elderly And Persons with Disabilities Market?
2. What is the CAGR expected in the Services For the Elderly And Persons with Disabilities Market?
3. What Are the Key Innovations Transforming the Services For the Elderly And Persons with Disabilities Industry?
4. Which Region Is Leading the Services For the Elderly And Persons with Disabilities Market?
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