Care Services Global Market Report 2024

Description

Care services encompass a range of support provided to individuals who require assistance due to age, illness, disability, or other personal circumstances. These services are delivered by trained professionals, caregivers, or family members and can be offered in various settings such as homes, hospitals, and care facilities. The primary objective is to improve the quality of life and well-being of those receiving care. Services can be customized to meet individual needs and may range from temporary to long-term care.

The primary components of care services include software and services. Software refers to programs and applications designed to perform specific functions on computers or devices. Delivery methods vary between on-premise and cloud-based solutions. Key applications include disease management, case management, utilization management, and others, and are utilized by different end-users such as nursing care facilities, home healthcare services, and other organizations.

The care services market research report is one of a series of new reports from The Business Research Company that provides care services market statistics, including care services industry global market size, regional shares, competitors with an care services market share, detailed care services market segments, market trends, and opportunities, and any further data you may need to thrive in the care services industry. This care services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The care services market size has grown strongly in recent years. It will grow from $447.09 billion in 2023 to $472.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historic period can be attributed to several factors such as the aging population, overall population growth, higher income levels, increased government funding, and urbanization.

The care services market size is expected to see strong growth in the next few years. It will grow to $594.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be attributed to several factors such as the rising incidence of chronic diseases, a greater emphasis on preventive care, expanding insurance coverage, ongoing health crises such as pandemics, and a growing preference for home-based and personalized care services. Key trends expected during this period include increased use of technology, advancements in data analytics and health informatics, the proliferation of digital therapeutics and apps, health equity initiatives, and enhanced patient engagement and education.

The growing prevalence of chronic health conditions is expected to drive the expansion of the care services market. Chronic conditions are on the rise due to aging populations and lifestyle factors such as poor diet, lack of physical activity, and increased stress, leading to higher incidences of diseases such as diabetes, heart disease, and obesity. Care services for these conditions involve ongoing medical support, treatment management, and lifestyle assistance to enhance patient quality of life and manage symptoms. For example, the National Center for Biotechnology Information (NCBI) projected in January 2023 that the number of individuals aged 50 and older with at least one chronic illness would rise by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Additionally, the World Health Organization (WHO) reported in September 2022 that chronic diseases were responsible for 74% of all global deaths, totaling 41 million annually. These conditions include cardiovascular diseases (17.9 million deaths), cancer (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million). Consequently, the increase in chronic health conditions is propelling the growth of the care services market.

Leading companies in the care services market are focusing on developing innovative solutions, such as real-time monitoring, to maintain a competitive edge. Real-time monitoring involves continuously tracking and analyzing data as it is generated, enabling immediate insights and responses to changing conditions. For instance, in September 2023, Apollo Hospitals Enterprise Ltd., an India-based healthcare company, introduced comprehensive connected care services. This program provides clinical teams and nursing staff with a holistic, real-time view of patients across various care touchpoints, from emergency to home care. It significantly enhances patient safety and experience, saving one hour of nursing time per shift, reducing intensive care unit readmissions by 30%, detecting 8-10 early critical alerts per 100 beds, and nearly eliminating code blue calls.

In August 2021, Honor Technology Inc., a US-based company specializing in home care technology solutions, acquired Home Instead Inc. for an undisclosed amount. This acquisition combines the largest and most personalized home care network with a leading technology and operations platform, aiming to improve the caregiver and client experience and revolutionize care for older adults. Home Instead Inc. is a US-based provider of personalized in-home care services for seniors.

Major companies operating in the care services market are Korian Group, Nichiigakkan Co. Ltd, BrightStar Care, ComForCare Home Care, RIEI Co. Ltd., Benesse Style Care Co. Ltd, NTUC Health Co-Operative Ltd, NMC ProVita International Medical Centre, Home Instead Inc, Econ Healthcare Group, Caring Senior Service, Living Assistance Services Inc., Orange Valley Healthcare, Cascade Living Group, Rosewood Care Group Inc., St Luke's Elder Care Ltd, FirstLight Home Care, ApnaCare India Pvt, Epoch Elder Care, United Medicare Centre, SASCO Integrated Eldercare Centre, Samvedna Senior Care, Carewell-Service Co. Ltd., Always Best Care

North America was the largest region in the care services market in 2023. The regions covered in the care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the care services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The care services market includes revenues earned by entities by providing services such as long-term care, palliative and hospice care, respite care, and telemedicine. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Care Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on care services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for care services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The care services market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Components: Software; Services
2) By Delivery Mode: On Premise; Cloud Based
3) By Application: Disease Management; Case Management; Utilization Management; Other Applications
4) By End-User: Nursing Care Facilities; Home Healthcare Services; Other End Users
Companies Mentioned: Korian Group; Nichiigakkan Co. Ltd; BrightStar Care; ComForCare Home Care; RIEI Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19829

1. Executive Summary

2. Care Services Market Characteristics

3. Care Services Market Trends And Strategies

4. Care Services Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Care Services Market Size and Growth

5.1. Global Care Services Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Care Services Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Care Services Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Care Services Market Segmentation

6.1. Global Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Services
6.2. Global Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On Premise
Cloud Based
6.3. Global Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Disease Management
Case Management
Utilization Management
Other Applications
6.4. Global Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Nursing Care Facilities
Home Healthcare Services
Other End Users

7. Care Services Market Regional And Country Analysis

7.1. Global Care Services Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Care Services Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Care Services Market

8.1. Asia-Pacific Care Services Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Care Services Market

9.1. China Care Services Market Overview
9.2. China Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Care Services Market

10.1. India Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Care Services Market

11.1. Japan Care Services Market Overview
11.2. Japan Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Care Services Market

12.1. Australia Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Care Services Market

13.1. Indonesia Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Care Services Market

14.1. South Korea Care Services Market Overview
14.2. South Korea Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Care Services Market

15.1. Western Europe Care Services Market Overview
15.2. Western Europe Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Care Services Market

16.1. UK Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Care Services Market

17.1. Germany Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Care Services Market

18.1. France Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Care Services Market

19.1. Italy Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Care Services Market

20.1. Spain Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Care Services Market

21.1. Eastern Europe Care Services Market Overview
21.2. Eastern Europe Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Care Services Market

22.1. Russia Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Care Services Market

23.1. North America Care Services Market Overview
23.2. North America Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Care Services Market

24.1. USA Care Services Market Overview
24.2. USA Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Care Services Market

25.1. Canada Care Services Market Overview
25.2. Canada Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Care Services Market

26.1. South America Care Services Market Overview
26.2. South America Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Care Services Market

27.1. Brazil Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Care Services Market

28.1. Middle East Care Services Market Overview
28.2. Middle East Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Care Services Market

29.1. Africa Care Services Market Overview
29.2. Africa Care Services Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Care Services Market, Segmentation By Delivery Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Care Services Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Care Services Market Competitive Landscape And Company Profiles

30.1. Care Services Market Competitive Landscape
30.2. Care Services Market Company Profiles
- 30.2.1. Korian Group
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Nichiigakkan Co. Ltd
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. BrightStar Care
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. ComForCare Home Care
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. RIEI Co. Ltd.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Care Services Market Other Major And Innovative Companies

31.1. Benesse Style Care Co. Ltd
31.2. NTUC Health Co-Operative Ltd
31.3. NMC ProVita International Medical Centre
31.4. Home Instead Inc
31.5. Econ Healthcare Group
31.6. Caring Senior Service
31.7. Living Assistance Services Inc.
31.8. Orange Valley Healthcare
31.9. Cascade Living Group
31.10. Rosewood Care Group Inc.
31.11. St Luke's Elder Care Ltd
31.12. FirstLight Home Care
31.13. ApnaCare India Pvt
31.14. Epoch Elder Care
31.15. United Medicare Centre

32. Global Care Services Market Competitive Benchmarking

33. Global Care Services Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Care Services Market

35. Care Services Market Future Outlook and Potential Analysis

35.1 Care Services Market In 2028 - Countries Offering Most New Opportunities
35.2 Care Services Market In 2028 - Segments Offering Most New Opportunities
35.3 Care Services Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer