Individuals with intellectual disability may be classified as having developmental delay, developmental disability, or mental handicap. The term "mental retardation" has been substituted with "intellectual disability." The assessment of intellectual disability primarily considers functionality, as individuals may have limitations in various areas. Diagnosis typically involves standardized tests that evaluate adaptive behavior and intelligence. These assessments help in identifying and understanding the intellectual abilities and challenges faced by individuals with intellectual disability.
According to Data Bridge Market Research, the Residential Intellectual and Development Disability Care Market accounted for USD 174 billion in 2022 and is expected to reach USD 298.96 billion by 2030. The market is expected to grow with a CAGR of 7% in the forecast period of 2023 to 2030.
“Increasing elderly population”
According to a United Nations Department of Economic and Social Affairs report, the global population of individuals aged 65 and above increased from 703 million in 2019 to approximately 727 million in 2020. This number is projected to double to reach 1.5 billion by 2050. Furthermore, the population of individuals aged 80 and above is expected to rise from 143 million in 2019 to 426 million by 2050. This growing elderly population creates a demand for elderly and disabled care services, thereby driving the market growth.
What restraints the growth of the residential intellectual and development disability care market?
“Rising incidents of elder abuse”
The prevalence of elder abuse within care centers catering to the elderly and individuals with disabilities is expected to impact the market negatively. As reported by the World Health Organization, the instances of elder abuse are increasing in these facilities, with a significant number of staff members admitting to committing abuse in the previous year. Elder abuse can result in severe physical harm and have long-term psychological effects. Consequently, this factor serves as a deterrent to market growth.
Segmentation: Residential Intellectual and Development Disability Care Market
The residential intellectual and development disability care market is segmented on the basis of mode of operation, number of beds, and end user.
- On the basis of mode of operation, the residential intellectual and development disability Care market has been segmented into state-run facilities, medicaid funded services, private large facilities, privately run small facilities.
- On the basis of number of beds, the residential intellectual and development disability care market has been segmented into 4 to 9, 10 to 19, 20 to 49, 50 to 99, 100 to 199, and 200 and more beds.
- On the basis of end user, the residential intellectual and development disability care market has been segmented into hospitals, intermediate care facilities, group homes, and private home, intellectual, and developmental disability facilities.
Regional Insights: North America Dominates the Residential Intellectual and Development Disability Care Market
North America dominates the residential intellectual and development disability care market due to the region's advanced healthcare infrastructure and favorable reimbursement policies. These factors play a significant role in fostering market expansion.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period due to the growth of the market in this region can be attributed to the establishment of national centers in developing nations that provide these facilities. Additionally, the active participation of major players in the market further contributes to its growth.
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The Prominent Key Players Operating in the Residential Intellectual and Development Disability Care Market Include:
- Texana Center (U.S.)
- SANDESH (India)
- St. Joseph's Center (U.S.)
- Metrocare Services (U.S.)
- PERFORMCARE (U.S.)
- Commonwealth of Pennsylvania (U.S.)
- Alliance Health (U.S.)
- Durham County Community Living Programs, Inc. (U.S.)
- Beacon Health Options (U.S.)
- The Home Care Spot. (U.S.)
- Health Standards Organization (HSO) (Canada)
- Texas Health & Human Services Commission (U.S.)
- The Commonwealth Fund (U.S.)
- Residential Support Services (U.S.)
- Lutheran Family Services Rocky Mountains (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of residential intellectual and development disability care market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Residential Intellectual and Development Disability Care Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
