PUBLISHER: Grand View Research | PRODUCT CODE: 1301149
PUBLISHER: Grand View Research | PRODUCT CODE: 1301149
The global adult day care market size is expected to reach USD 24.8 billion by 2030, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.10% from 2023 to 2030. The market's growth can be attributed to the rapidly growing geriatric population globally, majorly in the Asia Pacific region. This demographic transition has increased the demand for Home and Community-based Care (HCBC) globally and specifically in the region. According to the Asian Development Bank (ADB), the population aged 65 years and above is expected to increase by 2.5-fold from 2020 to 2050.
Furthermore, Adult Day Care (ADC) providers offer innovative and specialized services for patients with special needs, including Alzheimer's patients and Autism patients. Hence, government organizations are partnering with these institutions to improve the health services for these patients. For instance, in March 2023, the California Department of Aging (CDA), U.S., and ADC centers in the state partnered with the researchers at UC Davis's Betty Irene Moore School of Nursing to improve the health of dementia patients.
The COVID-19 pandemic negatively impacted the market as many ADC providers suspended their operations in response to the outbreak. The primary reason was to curb the spread of the pandemic among this population cohort, as these populations were at high risk of developing serious conditions. The Ministry of Health Japan reported the suspension of operations by around 909 ADC service providers in Japan in April 2020. However, these centers have slowly resumed operations to reduce the burden on home service providers and cater to the growing demand from dementia patients. According to the article published in the Springer Journal in February 2023, 81 dementia day care centers in Italy responded to surveys of 470 centers, and among them, around 53 centers resumed their operations in April 2021.