Europe Elderly Care Market By Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory and Others), Country (Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Rest of Europe)Market Trends and Forecast to 2027
Market Analysis and Insights: Europe Elderly Care Market
Elderly care market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.8% in the forecast period of 2020 to 2027 and expected to reach USD 503,050.83 million by 2027. Rising patient pool for chronic illness in ageing population is one of the major factors for the market growth.
With increasing government initiatives and increasing government funding towards the long term care of elderly patients and growing the growth rate of aging population across Europe, pressurize public finance towards funding.
- in 2018, according to the European commission, the growing number of geriatric population fuels to healthy lifestyle of adults and lower rate of birth increases the number of 80+ population which was observed from 4.9% to 13% from 2016 to 2017. These growth rates in geriatric population have raised the public expenditure for long term care (LTC) from 1.6% to 2.7% of GDP from 2016 to 2070.
This elderly care market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Elderly Care Market Scope and Market Size
Europe elderly care market is segmented on the basis of product type, service and application. The growth among these segments helps you to analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the market is segmented into pharmaceuticals and housing and assistive devices. In 2020, housing and assistive devices is expected to dominate the growth of the elderly care market, due to the requirement of assistive devices in homecare of elderly patients and growing geriatric population; those are not capable of self-assistance, this factor fuels the growth of the market in the forecast period of 2020 to 2027.
- On the basis of service, the market is segmented into homecare, institutional care and adult day care. In 2020, homecare segment is expected to dominate Elderly Care Market as homecare is designed in a way which enables comfort to aged patients and population and rising geriatric population in the European countries, leading the growth of the market in forecast period of 2020 to 2027.
- On the basis of application, the market is segmented into heart diseases, respiratory, diabetes, osteoporosis, cancer, neurological, kidney diseases, arthritis and others. In 2020, heart diseases segment is expected to dominate the growth of the market due to the growing incidences of hyper tension, blood pressure, cardiovascular diseases amongst elderly patients, leading the growth of the market in the coming year.
Elderly Care Market Country Level Analysis
Europe elderly care market is analysed and market size information is provided by country, by product type, service and application as referenced above.
The countries covered in elderly care market report are Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium and Rest of Europe.
Germany dominates the Europe elderly care market due to growing number of geriatric population associated with the diseases among elderly population and the better medical facilities and healthcare services is provided in the region to the older people.
For instance, according to international osteoporosis foundation, in 2015 total estimated number of population of aged 50+ with osteoporosis in Germany was 5.3 million. This growing number of ageing population and awareness conducted by the government authorities boosts the long term and short term services for elderly care.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strong Investment in Research and Development Activities and New Technology Penetration
Europe elderly care market also provides you with detailed market analysis for every country growth in medical device industry with elderly care sales, components sales, impact of technological development in elderly care services and changes in regulatory scenarios with their support for elderly care market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Elderly Care Market Share Analysis
Europe elderly care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Europe elderly care market.
The major players covered in the report are Koninklijke Philips N.V., BAYADA Home Health Care, BS Care Limited, Home Instead Franchising Limited, Medtronics, ORPEA GROUPE, Right At Home LLC., Senior Group, Stiegelmeyer GmbH & Co. KG among other players in Europe. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In June 2019, BAYADA (U.S.) has recognized by Forbes as best employer due to their unique work culture and new grads in employee management. The honour received for employees has motivated organization and the society to ensure better quality services around their presence
- In January 2019, Philips announced to launch app-based hub under senior caretaking services. The new platform incorporated by the company will enhance the elderly care products range into single digital system for care takers especially designed for family.
Partnership, expansion and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for elderly care through expanded model range.
Customization Available : Europe Elderly Care Market
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