PUBLISHER: The Business Research Company | PRODUCT CODE: 1704208
PUBLISHER: The Business Research Company | PRODUCT CODE: 1704208
Elderly care encompasses services designed to support the physical, emotional, and social needs of older adults, including medical management, personal assistance, and companionship to improve their quality of life. This care can be provided in various settings, such as at home with the help of home health aides or in specialized facilities such as nursing homes and assisted living communities, all with the aim of ensuring safety, comfort, and well-being.
The main types of elderly care include independent community living, assisted living, nursing care, in-home care, daycare, hybrid care, and palliative care. Independent community living offers housing options for seniors who are generally healthy and able to manage daily activities independently. This category covers various durations, including short-term and long-term, and addresses a range of conditions such as heart disease, diabetes, arthritis, cancer, kidney disease, osteoporosis, neurological issues, and respiratory problems. The end users of these services include hospitals, elderly nursing homes, home care providers, and other care facilities.
The elderly care market research report is one of a series of new reports from The Business Research Company that provides elderly care market statistics, including elderly care industry global market size, regional shares, competitors with an elderly care market share, detailed elderly care market segments, market trends and opportunities, and any further data you may need to thrive in the elderly care industry. This elderly care market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The elderly care market size has grown strongly in recent years. It will grow from $1782.6 billion in 2024 to $1931.98 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to the rising prevalence of various elderly diseases, an increase in the number of elderly people, increasing awareness of home care services, an increased need for care, and increasing healthcare awareness.
The elderly care market size is expected to see strong growth in the next few years. It will grow to $2636.08 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising healthcare services and facilities, increasing cases of chronic diseases, growing awareness regarding elderly care, an increase in demand for elderly care products, and a growing demand for elderly care services. Major trends in the forecast period include technological advancements, innovation in integrated care models, advanced technologies in medical devices, the development of personalized care plans, the integration of artificial intelligence, and smart home technologies.
The expanding global geriatric population is anticipated to drive the growth of the elderly care market in the future. This rise in the elderly population is attributed to longer life expectancy, advancements in healthcare, and declining birth rates, resulting in a larger share of older adults in the overall population. Elderly care services encompass various supportive measures, such as medical management, personal care, and health monitoring, to effectively handle chronic diseases and improve the quality of life for seniors. For instance, the World Health Organization reported in October 2022 that the global population of individuals aged 60 and older is expected to reach 1.4 billion by 2022, up from 1 billion in 2020. Additionally, it is projected that by 2030, one in six people worldwide will be aged 60 or older. Consequently, the increasing geriatric population is expected to drive the expansion of the elderly care market.
Leading companies in the elderly care market are focusing on developing innovative products, such as healthcare-grade mobile computers, to enhance care quality, streamline workflows, improve communication among healthcare providers, and enable better real-time monitoring and management of elderly patients' health conditions. Healthcare-grade mobile computers are rugged, purpose-built devices designed specifically for use in healthcare settings. For example, in November 2023, Zebra Technologies launched new healthcare-grade mobile computers aimed at improving patient care and operational efficiency in healthcare environments. These devices are designed to help caregivers manage patient data, optimize workflows, and facilitate better communication among healthcare teams. Featuring advanced technologies, such as enhanced data capture and long-lasting battery life, these mobile computers ensure that healthcare professionals have reliable access to critical information when needed. By enabling real-time data access, these devices are intended to improve patient outcomes and overall care quality.
In March 2024, LHC Group, a leading US-based provider of in-home healthcare services, acquired UnitedHealth. This strategic acquisition allows LHC Group to expand its service offerings and extend its reach within the home healthcare market. By integrating UnitedHealth's resources and expertise, LHC Group aims to improve patient outcomes and streamline operations. This move is part of a growing trend of consolidation within the elderly care sector, where companies are striving to provide comprehensive care solutions to an aging population. As such, these mergers are crucial to meeting the increasing demand for high-quality elderly care services. UnitedHealth Group is a US-based diversified healthcare company specializing in healthcare services and health insurance.
Major companies operating in the elderly care market are Stryker Corporation, Boston Scientific Corp., Orpea Groupe S.A, Interim HealthCare Inc., Right at Home LLC, LHC Group Inc., Bayada Home Health Care Inc., Extendicare Inc., Arjo AB, Exceptional Living Centers, Home Instead Inc., RIEI Co. Ltd., Cascade Healthcare Services LLC, NTUC Health Co-Operative Ltd., Econ Healthcare Group, St Luke's ElderCare Ltd., Rosewood Care Group Inc., Orange Elderly Care Homes, United Medicare Pte. Ltd., Samvedna Senior Care Pvt. Ltd., Singapore Amalgamated Services Co-operative Organisation Ltd. (SASCO), Vesta Elder Care Pvt. Ltd.
North America was the largest region in the elderly care market in 2024. The regions covered in the elderly care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the elderly care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The elderly care market includes revenues earned by entities by providing services such as personal care assistance, companionship, therapy services, residential care, respite care, and in-home care services. 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 Global Market Report 2025 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 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.
Where is the largest and fastest growing market for elderly care ? 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 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.