Elderly Care Services Global Market Report 2024

Description

Elderly care services include a variety of professional and personal support aimed at addressing the needs of older adults. These services cover assistance with daily activities, medical care, and emotional support, with the goal of enhancing seniors' quality of life, ensuring their well-being and safety, and promoting their independence and dignity.

The main types of elderly care services are homecare, institutional care, adult day care, and others. Homecare services are provided in the elderly individual's own home, allowing them to stay in a familiar environment while receiving necessary support to maintain their independence and quality of life. Service providers can be public or private, and the care addresses conditions such as diabetes, Alzheimer's, respiratory diseases, neurological disorders, heart diseases, cancer, and others.

The elderly care services market research report is one of a series of new reports from the business research company that provides elderly care services market statistics, including elderly care services industry global market size, regional shares, competitors with an elderly care services market share, detailed elderly care services market segments, market trends and opportunities, and any further data you may need to thrive in the elderly care services industry. This elderly 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 elderly care services market size has grown strongly in recent years. It will grow from $967.57 billion in 2023 to $1,044.86 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth during the historic period can be attributed to the prevalence of chronic diseases, an aging population, government initiatives, changes in family structure, and increasing awareness.

The elderly care services market size is expected to see strong growth in the next few years. It will grow to $1,428.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The projected growth during the forecast period can be attributed to the ongoing growth of the aging population, increased investment in healthcare infrastructure, the expansion of home care services, heightened awareness, and economic factors. Key trends expected to influence this period include integrated care models, healthcare innovations, advanced medical devices, technological advancements, and the expansion of telemedicine.

The growing prevalence of chronic conditions among seniors is anticipated to drive the expansion of the elderly care services market. Chronic conditions, such as diabetes, heart disease, and chronic respiratory illnesses, are long-term health issues that require continuous management. The rise in these conditions among seniors can be attributed to lifestyle factors such as poor diet, inactivity, smoking, and excessive alcohol consumption, as well as aging and genetic predispositions to diseases such as cardiovascular issues and cancer. Elderly care services offer specialized support to manage these complex health needs and improve overall well-being. For example, a report from the Alzheimer's Association in May 2024 noted that the number of Americans aged 65 and older diagnosed with Alzheimer's dementia increased from 6.5 million in 2022 to an estimated 6.9 million in 2024. Consequently, the growing prevalence of chronic conditions among seniors is expected to drive the elderly care services market.

Leading companies in the elderly care services market are creating smart cloud-based platforms to enhance remote monitoring and deliver personalized care. These platforms use cloud technology to provide remote monitoring, management, and support for elderly individuals, aiming to improve their care and quality of life. For instance, in September 2022, UBTECH Robotics, a China-based leader in intelligent humanoid robotics and AI, introduced the UBTECH Smart Elderly Care Cloud-based Platform. This system, designed for seniors, integrates AI technology and offers services such as service management, daily care management, security and health monitoring, memory-loss prevention, emotional support, and rehabilitation. The goal is to create a reliable and secure platform that enhances the well-being and quality of life for the elderly.

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 aims to improve the professional caregiver and client experience and transform care for older adults. Home Instead Inc. is a US-based provider of personalized in-home care services for seniors, focusing on enhancing their quality of life through compassionate and professional care.

Major companies operating in the elderly care services market are Korian Group, Nichiigakkan Co. Ltd, BrightStar Care, ComForCare, 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 elderly care services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the elderly care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

The elderly care services market includes revenues earned by entities such as therapy services, residential care, skilled nursing care, and health monitoring. 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.

Elderly 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 elderly 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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Where is the largest and fastest growing market for elderly 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 elderly 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 Service Type: Homecare; Institutional Care; Adult Day Care; Other Services
2) By Service Provider: Public; Private
3) By Application: Diabetes; Alzheimer's; Respiratory Diseases; Neurological Disorders; Heart Diseases; Cancer; Other Applications
Companies Mentioned: Korian Group; Nichiigakkan Co. Ltd; BrightStar Care; ComForCare; 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: r19886

1. Executive Summary

2. Elderly Care Services Market Characteristics

3. Elderly Care Services Market Trends And Strategies

4. Elderly 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 Elderly Care Services Market Size and Growth

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

6. Elderly Care Services Market Segmentation

6.1. Global Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Homecare
Institutional Care
Adult Day Care
Other Services
6.2. Global Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Public
Private
6.3. Global Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Diabetes
Alzheimer's
Respiratory Diseases
Neurological Disorders
Heart Diseases
Cancer
Other Applications

7. Elderly Care Services Market Regional And Country Analysis

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

8. Asia-Pacific Elderly Care Services Market

8.1. Asia-Pacific Elderly 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 Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Elderly Care Services Market

9.1. China Elderly Care Services Market Overview
9.2. China Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Elderly Care Services Market

10.1. India Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Elderly Care Services Market

11.1. Japan Elderly Care Services Market Overview
11.2. Japan Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Elderly Care Services Market

12.1. Australia Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Elderly Care Services Market

13.1. Indonesia Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Elderly Care Services Market

14.1. South Korea Elderly Care Services Market Overview
14.2. South Korea Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Elderly Care Services Market

15.1. Western Europe Elderly Care Services Market Overview
15.2. Western Europe Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Elderly Care Services Market

16.1. UK Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Elderly Care Services Market

17.1. Germany Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Elderly Care Services Market

18.1. France Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Elderly Care Services Market

19.1. Italy Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Elderly Care Services Market

20.1. Spain Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Elderly Care Services Market

21.1. Eastern Europe Elderly Care Services Market Overview
21.2. Eastern Europe Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Elderly Care Services Market

22.1. Russia Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Elderly Care Services Market

23.1. North America Elderly Care Services Market Overview
23.2. North America Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Elderly Care Services Market

24.1. USA Elderly Care Services Market Overview
24.2. USA Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Elderly Care Services Market

25.1. Canada Elderly Care Services Market Overview
25.2. Canada Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Elderly Care Services Market

26.1. South America Elderly Care Services Market Overview
26.2. South America Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Elderly Care Services Market

27.1. Brazil Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Elderly Care Services Market

28.1. Middle East Elderly Care Services Market Overview
28.2. Middle East Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Elderly Care Services Market

29.1. Africa Elderly Care Services Market Overview
29.2. Africa Elderly Care Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Elderly Care Services Market, Segmentation By Service Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Elderly Care Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Elderly Care Services Market Competitive Landscape And Company Profiles

30.1. Elderly Care Services Market Competitive Landscape
30.2. Elderly 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
  - 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. Elderly 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 Elderly Care Services Market Competitive Benchmarking

33. Global Elderly Care Services Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Elderly Care Services Market

35. Elderly Care Services Market Future Outlook and Potential Analysis

35.1 Elderly Care Services Market In 2028 - Countries Offering Most New Opportunities
35.2 Elderly Care Services Market In 2028 - Segments Offering Most New Opportunities
35.3 Elderly 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