Emerging Trends to Drive Individual And Family Services Market Growth at 6.3% CAGR Through 2029

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Individual And Family Services Market Size Growth Forecast: What to Expect by 2025?
The market size for individual and family services has seen significant growth in the past few years. It is expected to expand from a size of $880.08 billion in 2024 to $934.59 billion in 2025, showing a compound annual growth rate (CAGR) of 6.2%. Factors such as the need for risk management, compliance with regulatory obligations, population expansion, and major unexpected events have contributed to the growth witnessed in the historical period.

How Will the Individual And Family Services Market Size Evolve and Grow by 2029?
The market size for individual and family services is predicted to witness substantial expansion in the coming years, reaching $1193.98 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. This growth for the predicted period is due to various influencing factors such as emerging risks, digital revolution, alterations in demographics, a sustainability and ESG focus, and aspects of globalization and trade. Prominent trends during this forecasted tenure include the adoption of usage-based insurance (UBI), innovations in insurtech, the emergence of parametric insurance, cyber insurance, and the rise of peer-to-peer (P2P) insurance.

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What Drivers Are Propelling the Growth of Individual And Family Services Market Forward?
The escalating instances of mistreatment and negligence towards children and the elderly are predicted to propel the individual and family services market. These two groups are amongst the most susceptible to facing abuse and negligence from relatives, acquaintances, institutions, and more. Data from the World Health Organization in 2022 reveals that 1 in 6 individuals aged 60 years and above experienced some kind of abuse. The abuse rates towards the elderly are especially high in places such as nursing homes and other long-term care facilities. Furthermore, the 29th Child Maltreatment Report by the Children's Bureau at HHS' Administration for Children and Families (ACF) indicates that out of 3,534,000 million children, 60.8% faced neglect, 10.7% underwent physical abuse, and 7.0% were sexually abused. Over 15% of children have suffered from two or more forms of maltreatment. The afflicted children and elderly tend to bear not just physical injuries but also emotional and psychological issues, like impaired social-emotional skills or anxiety. Children and the elderly who face abuse carry an elevated risk of substance misuse, brought about by emotional instability. This rising count heightens the requirement for individual and family services that offer non-residential social assistance services to enhance living conditions.

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What Are the Key Trends Driving Individual And Family Services Market Growth?
Providers in the individual and family services sector are increasingly turning to digital channels to host events or fundraisers, spread awareness, and deliver services. Global pandemics have imposed restrictions that have necessitated the shift towards online platforms for service provision. An example of this trend was seen in January 2023 when CareFirst BlueCross BlueShield, a medical insurance firm based in the US, introduced Virtual Connect. This digital-first delivery model provides a wide range of services such as preventive and urgent care, mental and behavioral health services, care coordination, and insurance navigation among others. The program aims to offer continuous, integrated care to commercial members of CareFirst.

What Are the Key Segments in the Individual And Family Services Market?
The individual and family servicesmarket covered in this report is segmented -

1) By Type: Child And Youth Services, Services For the Elderly And Persons with Disabilities, Other Individual And Family Services
2) By Mode: Online, Offline
3) By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-help

Subsegments:
1) By Child and Youth Services: Adoption Services, Foster Care Services, Child Welfare Services, Youth Counseling and Support Services, Juvenile Delinquency Services
2) By Services for the Elderly and Persons with Disabilities: Home Healthcare Services, Assisted Living Services, Disability Support and Rehabilitation Services, Adult Day Care Services, Elderly Welfare Services
3) By Other Individual and Family Services: Marriage and Family Counseling, Financial Counseling and Support Services, Vocational Rehabilitation Services, Domestic Violence Support Services, Substance Abuse Counseling and Treatment Services

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Who Are the Key Players Shaping the Individual And Family Services Market's Competitive Landscape?
Major companies operating in the individual and family services market include CARE International, Childrens Aid and Family Services Inc., Eastwick Family Services, Executive Healthcare Services (EHS), Feeding America, Goldfields Individual and Family Support Association (GIFSA), Kairos Family Services, North East Independent Living Services, StepStone Family & Youth Services, United Nations Childrens Fund (UNICEF), SMART Child & Family Services, Young Men's Christian Association, Boys & Girls Clubs of America, Big Brothers Big Sisters of America, Girl Scouts of the USA, American Red Cross, The Salvation Army, The Emergency Food and Shelter Program, National Alliance to End Homlessness, The National Coalition for the Homeless, Covenant House, The Bowery Mission, The Midnight Mission, The Rescue Mission, The Union Rescue Mission, The City Mission, The Samaritan Inn, The Mustard Seed, The Road Home, The House of Charity, The Open Door Mission, The Denver Rescue Mission, The Nashville Rescue Mission, The Atlanta Mission, The Seattle's Union Gospel Mission, The Portland Rescue Mission, The San Francisco City Impact, The Los Angeles Mission, The Good Shepherd Center, The St. Vincent de Paul Society

What Geographic Markets Are Powering Growth in the Individual And Family Services Market?
Western Europe was the largest region in the individual and family services market in 2024. Asia-Pacific was the second-largest region in the individual and family services market. The regions covered in the individual and family services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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