What is the Future Market Value for Elderly Care Market?

The Market Value for Elderly Care Market is expected USD 2,357,746.52 million by 2029. Read More

What is the Growth Rate of the Elderly Care Market?

The Elderly Care Market is to grow at a CAGR of 6.0% during the forecast period of 2022 to 2029 Read More

Which are the Major Market Drivers for Elderly Care Market?

The Expansion of the Global Elderly Care Market will be fueled by a surging prevalence of chronic diseases and rising number of geriatric population. Additionally, continuously changing lifestyle and surge in telehealth and other digital services will further cushion the market's growth rate during the forecast period. Read More

What are the Major Companies Operating in the Elderly Care Market?

Medtronic (Ireland), Interim HealthCare Inc. (U.S.), Extendicare (Canada) and Exceptional Living Centers (U.S.) are the major companies operating in this market are the Major Companies Operating in the Elderly Care Market. Read More

Which Countries Data is Covered in the Elderly Care Market?

The Countries Covered in the Elderly Care Market Report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. Read More

Elderly Care Market Size, Share, Trends, Opportunity, & Industry Challenges

Global Elderly Care Market, By Product Type (Pharmaceuticals, Housing & Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others).

Global Elderly Care Market Analysis and Insights

Elderly care is referred to as senior care, which includes meeting all the requirements of senior citizens at different stages. It includes products and services that make the daily activities of aged people simple and easy. The need for elderly care increases with the growing age as aged people require physical as well as emotional assistance to lead a productive, healthy, and independent life. Eldercare services include assisted living, adult day care, long-term care, short-term care, hospice, and home care.

Elderly Care Market

In developed nations, elderly care services are in high demand, and with growing medical science technology, the developing nations are also opting for these services. Elderly care services are divided into medical and non-medical services. After surgeries or any injuries, the services offered to the elders are mainly medical, while emotional problems or neurodegenerative disease include both medical and non-medical services.

The global elderly care market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.0% in the forecast period of 2022 to 2029 and is expected to reach USD 2,357,746.52 million by 2029.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Pricing in USD

Segments Covered

By Product Type (Pharmaceuticals, Housing & Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory)

Countries Covered

U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, rest of South America, South Africa and rest of the Middle East and Africa

Market Players Covered

Koninklijke Philips N.V., Amedisys, ECON Healthcare Group, Encompass Health Corporation, EXTENDICARE, LHC Group, Inc., Medtronic, ORPEA GROUPE, Prolifico, ElderCareCanada, Exceptional Living Centers, Right at Home, LLC, BAYADA Home Health Care, United Medicare Pte Ltd, Trinity Health, Rosewood Care Group, ST LUKE'S ELDERCARE LTD, FC Compassus LLC, Home Instead, Inc., Interim HealthCare Inc., Living Assistance Services, among others

Global Elderly Care Market Dynamics

Drivers

Growing Awareness Regarding Elderly Care

The rising awareness regarding home care services, adult care services, and others among people globally will increase the demand for the market. With the rapid upsurge in the aged population, the need for elderly care is increasing, and the growing demand for elderly care services and products will fuel the market's growth.

Increasing Cases of Chronic Disease

The rising number of chronic diseases such as diabetes, cardiovascular diseases, obesity, cancer, osteoporosis, and dental diseases has increased. These diseases can be prevented with proper treatment, diet, and nutrition, along with proper suggestions from doctors. But in recent times, the treatment can also be taken by sitting at home with the help of home healthcare services in which one does not need to visit hospitals.

Elderly Care Market

Opportunities

Increasing Market Trend Towards Elderly Care Services

The increasing elderly population is expected to act as a driving force for elderly care services. Change in the economy and social environment has increased the demand for care business. A growing number of the elderly population puts pressure on the young generation to take care of elderly family members along with work. This as a result, creates the need for elderly care services. It is divided into short-term services and long-term services. Short-term services help in performing the daily basic activities, while long-term services focus on the residential facilities. Long-term service requires medical assistance and daycare.

Restraints/Challenges

Lack of Trained and Experienced Workers

The shortage of trained professionals, especially in developing countries, may hamper the growth of the market.

This global elderly care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global elderly care market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

Post COVID-19 Impact on Global Elderly Care Market

The COVID-19 has affected the market to some extent. Due to lockdown, the admission of the elderly was halted as well as the demand from the health care services also decreased, which has affected the market. Post-Covid, the demand for elderly care is increased due to changes in regulations and preventive measures, and others.

Recent Development

In June 2021, according to TechCrunch, Webrock Ventures and Helathforce partnered to launch telehealth products in South Africa. The new venture has not been given a name yet, and the main focus is to offer on-demand and scheduled consultations to patients with nurses, mental health professionals, and practitioners. The venture has closed a USD 3 million pre-Series A round

In April 2021, according to TechCrunch, Quro Medical, a health tech startup in South Africa that offers home services to manage ill patients in their homes to provide them the utmost comfort as well as to reduce the risk of infection, had closed a USD 1.1 million round investment. The round was led by Enza Capital and Mohau Equity Partners. The company aims to provide acute patient care at home to improve the patient experience

Global Elderly Care Market Scope

The global elderly care market is segmented into product type, service, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product Type

Pharmaceuticals

Housing and assistive devices

Based on product type, the elderly care market is segmented into pharmaceuticals and housing and assistive device.

Service

Institutional Care

Homecare

Adult Day Care

Based on service, the elderly care market is segmented into institutional care, homecare, and adult day care.

Application

Heart Diseases

Cancer

Kidney Diseases

Diabetes

Arthritis

Osteoporosis

Neurological

Respiratory

Others

Elderly Care Market

On the basis of application, the global elderly care market is segmented into heart diseases, cancer, kidney diseases, diabetes, arthritis, osteoporosis, neurological, respiratory, and others.

Global Elderly Care Market Regional Analysis/Insights

The global elderly care market is analyzed, and market size insights and trends are provided by country, product type, service, and application.

The countries covered in the global elderly care market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, rest of South America, South Africa and rest of the Middle East and Africa.

North America is expected to dominate the global elderly care market during the forecast period owing to the rapid increase in the aged population that ultimately increases the demand for elderly care products and services.

Elderly Care Market

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Elderly Care Market Share Analysis

The global elderly care market competitive landscape provides details by the competitors. 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, and application dominance. The above data points provided are only related to the companies' focus on the global elderly care market.

Some of the major players operating in the elderly care market are LHC Group, Inc., Encompass Health Corporation, EXTENDICARE, Amedisys, Koninklijke Philips N.V., Medtronic, ORPEA GROUPE, Exceptional Living Centers, Trinity Health, Right at Home, LLC, FC Compassus LLC, Home Instead, Inc., Interim HealthCare Inc., Living Assistance Services, BAYADA Home Health Care, and others.

Research Methodology

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 the 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 an analyst call in case of further inquiry.

SKU-10596

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Global Elderly Care Market – Industry Trends and Forecast to 2029

Global Elderly Care Market Analysis and Insights

Global Elderly Care Market Dynamics

Post COVID-19 Impact on Global Elderly Care Market

Global Elderly Care Market Scope

Global Elderly Care Market Regional Analysis/Insights

Competitive Landscape and Global Elderly Care Market Share Analysis

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Frequently Asked Questions

What is the Future Market Value for Elderly Care Market?

What is the Growth Rate of the Elderly Care Market?

Which are the Major Market Drivers for Elderly Care Market?

What are the Major Companies Operating in the Elderly Care Market?

Which Countries Data is Covered in the Elderly Care Market?

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