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Global Adult Day Care Services Market to be Propelled by Increasing Geriatric Population
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Many of the adult day care centers offer specialized focus on particular disease treatment and provide services related to that disease, such as, cardiovascular diseases, services for physically or mentally disabled persons. In addition to support services, many of the adult day care services have taken the initiative to develop a diagnostic and treatment center for the patients present in their center. Such diagnostic services play a vital role in case of chronically ill patients, such as, patient with Alzheimer’s disease, patient in coma and other similar situations. Due to proper treatment in the adult day care center, hospitalization probability have been decreased in last few years.
The market for adult day care services is expected to grow in a lucrative fashion, in the forecast period 2013 - 2019. This growth is driven by market drivers, such as increasing aging population of the world, rising medical expenditure, growing demand for day-care services due to rising prevalence of chronic diseases, ‘Patient Protection and Care Act’ and growing concern of global population towards the specialized day care services. Increasing geriatric population is one of the most important market growth propellers. According to Center for Diseases Control and Prevention (CDC), as of 2030, the population of Americans aged 65 years or older is expected to rise to 72 million, constituting around 20% of total population of the U.S.
Further, due to increased aging population, it imposes a heavy burden of the healthcare and associated services, which causes depletion of quality in those healthcare medical infrastructures. Henceforth, day care services have found their applications in minimizing the burden on the healthcare services in an efficient manner. In addition, increased chronic disorders associated with aging population also fuels the market growth of day care services. For instance, according to Alzheimer’s Association, as of 2013, 5 million people from the U.S. are suffering from Alzheimer’s disease and the disease is the 6th leading cause of death in the U.S. Hence, such rise in chronic diseases also contributes towards the growth of day care services market in an exponential way.
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Major restraints of the market include high cost associated with the services, limited availability of technically competent persons and nurses and lack of preference and awareness in the certain region of the world. Limited technically compatible people availability is the most important hurdle in the market growth, since these services need technically and socially strong personnel, in order to carry out the activities and services smoothly. Major opportunities in the market include the development of training programs for the persons who wish to enter in this sector, development of high quality services and atmosphere in order to raise the revenue and morale of patient as well as the employees.
Major players operating in this market include National Adult Day Services Association (NADSA), Alzheimer Association Day Care Center among others.
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