Data Bridge Market Research added a recently released new research report on Elderly Care Market by Deployment Type, Component, Organization Size, Vertical, and Forecast providing updates and information related to industry coverage, current market competitive status, and market outlook. This Elderly Care Market report emphasizes key market dynamics of the Elderly Care industry and covers historic data, present market trends, environment, technological innovation, upcoming technologies, and the technical progress in the related industry.
Elderly Care Market research report proves to be a precious source of information with which businesses can achieve a telescopic view of the current market trends, consumer demands and preferences, market situations, opportunities, and market status. To build this Elderly Care report, a detailed market analysis has been performed with inputs from industry experts. All the data, figures, and information is backed up by well-recognized analysis tools which include SWOT analysis and Porter’s Five Forces analysis.
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The global elderly care market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.0% in the forecast period of 2022 to 2029 and is expected to reach USD 2,357,746.52 million by 2029.
Market Synopsis: –
Elderly care is referred to as senior care, which includes meeting all the requirements of senior citizens at different stages. It includes products and services that make the daily activities of aged people simple and easy. The need for elderly care increases with the growing age as aged people require physical as well as emotional assistance to lead a productive, healthy, and independent life. Eldercare services include assisted living, adult day care, long-term care, short-term care, hospice, and home care.
In developed nations, elderly care services are in high demand, and with growing medical science technology, the developing nations are also opting for these services. Elderly care services are divided into medical and non-medical services. After surgeries or any injuries, the services offered to the elders are mainly medical, while emotional problems or neurodegenerative disease include both medical and non-medical services.
REPORT METRIC
DETAILS
Forecast Period
2022 to 2029
Base Year
2021
Historic Years
2020 (Customizable to 2019 – 2014)
Quantitative Units
Revenue in USD Million, Pricing in USD
Segments Covered
By Product Type (Pharmaceuticals, Housing Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory)
Countries Covered
U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, rest of South America, South Africa and rest of the Middle East and Africa
Market Players Covered
Koninklijke Philips N.V., Amedisys, ECON Healthcare Group, Encompass Health Corporation, EXTENDICARE, LHC Group, Inc., Medtronic, ORPEA GROUPE, Prolifico, ElderCareCanada, Exceptional Living Centers, Right at Home, LLC, BAYADA Home Health Care, United Medicare Pte Ltd, Trinity Health, Rosewood Care Group, ST LUKE’S ELDERCARE LTD, FC Compassus LLC, Home Instead, Inc., Interim HealthCare Inc., Living Assistance Services, among others
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Recent Development
In June 2021, according to TechCrunch, Webrock Ventures and Helathforce partnered to launch telehealth products in South Africa. The new venture has not been given a name yet, and the main focus is to offer on-demand and scheduled consultations to patients with nurses, mental health professionals, and practitioners. The venture has closed a USD 3 million pre-Series A round
In April 2021, according to TechCrunch, Quro Medical, a health tech startup in South Africa that offers home services to manage ill patients in their homes to provide them the utmost comfort as well as to reduce the risk of infection, had closed a USD 1.1 million round investment. The round was led by Enza Capital and Mohau Equity Partners. The company aims to provide acute patient care at home to improve the patient experience
Critical Insights Related to the Elderly CareIncluded in the Report:
Exclusive graphics and Illustrative Porter’s Five Forces analysis of some of the leading companies in this market
Value chain analysis of prominent players in the market
Current trends influencing the dynamics of this market across various geographies
Recent mergers, acquisitions, collaborations, and partnerships
Revenue growth of this industry over the forecast period
Marketing strategy study and growth trends
Growth-driven factor analysis
Emerging recess segments and region-wise market
An empirical evaluation of the curve of this market
Ancient, Present, and Probable scope of the market from both prospect value and volume
Elderly Care Key Benefits over Global Competitors:
The report provides a qualitative and quantitative analysis of the Elderly Care Market trends, forecasts, and market size to determine new opportunities.
Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
Top impacting factors major investment pockets are highlighted in the research.
The major countries in each region are analyzed and their revenue contribution is mentioned.
The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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Global Elderly Care Market Dynamics
Drivers
Growing Awareness Regarding Elderly Care
The rising awareness regarding home care services, adult care services, and others among people globally will increase the demand for the market. With the rapid upsurge in the aged population, the need for elderly care is increasing, and the growing demand for elderly care services and products will fuel the market’s growth.
Increasing Cases of Chronic Disease
The rising number of chronic diseases such as diabetes, cardiovascular diseases, obesity, cancer, osteoporosis, and dental diseases has increased. These diseases can be prevented with proper treatment, diet, and nutrition, along with proper suggestions from doctors. But in recent times, the treatment can also be taken by sitting at home with the help of home healthcare services in which one does not need to visit hospitals.
Opportunities
Increasing Market Trend Towards Elderly Care Services
The increasing elderly population is expected to act as a driving force for elderly care services. Change in the economy and social environment has increased the demand for care business. A growing number of the elderly population puts pressure on the young generation to take care of elderly family members along with work. This as a result, creates the need for elderly care services. It is divided into short-term services and long-term services. Short-term services help in performing the daily basic activities, while long-term services focus on the residential facilities. Long-term service requires medical assistance and daycare.
Restraints/Challenges
Lack of Trained and Experienced Workers
The shortage of trained professionals, especially in developing countries, may hamper the growth of the market.
Global Elderly Care Market Scope
The global elderly care market is segmented into product type, service, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product Type
Pharmaceuticals
Housing and assistive devices
Based on product type, the elderly care market is segmented into pharmaceuticals and housing and assistive device.
Service
Institutional Care
Homecare
Adult Day Care
Based on service, the elderly care market is segmented into institutional care, homecare, and adult day care.
Application
Heart Diseases
Cancer
Kidney Diseases
Diabetes
Arthritis
Osteoporosis
Neurological
Respiratory
Others
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