This report describes and explains the services for the elderly and persons with disabilities market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global services for the elderly and persons with disabilities market reached a value of nearly $421.3 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.53% since 2018. The market is expected to grow from $421.3 billion in 2023 to $591.2 billion in 2028 at a rate of 7.01%. The market is then expected to grow at a CAGR of 7.57% from 2028 and reach $851.4 billion in 2033.
Growth in the historic period resulted from the rising healthcare expenditure, growth in disposable incomes, rising demand for home care services and regulatory support for elder care services. Factors that negatively affected growth in the historic period include insufficient training to carers, selected insurance coverage and increase in elderly abuse.
Going forward, the growing prevalence of chronic diseases, increasing aging populations, increasing prevalence of accidents causing disability, government initiatives for elder care, rising awareness of elderly care services and growing investments in specialized training for caregivers will drive the market. Factors that could hinder the growth of the services for the elderly and persons with disabilities market in the future include skilled workforce shortages and insufficient public health insurance coverage.
The services for the elderly and persons with disabilities market is segmented by service type into institutional care, adult day-care and home care. The institutional care market was the largest segment of the services for the elderly and persons with disabilities market segmented by service type, accounting for 52.36% or $220.6 billion of the total in 2023. Going forward, the home care segment is expected to be the fastest growing segment in the services for the elderly and persons with disabilities market segmented by service type, at a CAGR of 8.15% during 2023-2028.
The services for the elderly and persons with disabilities market is segmented by service provider into public expenditure, private expenditure and out-of-pocket spending. The public expenditure market was the largest segment of the services for the elderly and persons with disabilities market segmented by service provider, accounting for 50.23% or $211.6 billion of the total in 2023. Going forward, the out-of-pocket spending segment is expected to be the fastest growing segment in the services for the elderly and persons with disabilities market segmented by service provider, at a CAGR of 8.61% during 2023-2028.
The services for the elderly and persons with disabilities market is segmented by end-user into elderly and disabled adults. The elderly market was the largest segment of the services for the elderly and persons with disabilities market segmented by end-user, accounting for 75.78% or $319.2 billion of the total in 2023. Going forward, the disabled adults segment is expected to be the fastest growing segment in the services for the elderly and persons with disabilities market segmented by end-user, at a CAGR of 7.18% during 2023-2028.
Western Europe was the largest region in the services for the elderly and persons with disabilities market, accounting for 38.36% or $161.2 billion of the total in 2023. It was followed by Asia-Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the services for the elderly and persons with disabilities market will be Eastern Europe and Asia-Pacific, where growth will be at CAGRs of 10.13% and 10.03% respectively. These will be followed by Africa and the Middle East, where the markets are expected to grow at CAGRs of 10.00% and 9.19% respectively.
The global services for the elderly and persons with disabilities market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 3.16% of the total market in 2023. Kindred Souls Healthcare was the largest competitor with a 1.70% share of the market, followed by Brookdale Senior Living Inc. with 0.68%, LHC Group Inc. with 0.44%, BAYADA Home Health Care with 0.15%, CK Franchising Inc. with 0.07%, Synergy Home Care with 0.029%, Home Instead Inc. with 0.027%, 24 Hour Home Care with 0.0189%, Right at Home Inc. with 0.0185% and SE Health with 0.009%.
The top opportunities in the services for the elderly and persons with disabilities market segmented by service type will arise in the institutional care segment, which will gain $77.6 billion of global annual sales by 2028. The top opportunities in the services for the elderly and persons with disabilities market segmented by service provider will arise in the public expenditure segment, which will gain $71 billion of global annual sales by 2028. The top opportunities in the services for the elderly and persons with disabilities market segmented by end user will arise in the elderly segment, which will gain $127.6 billion of global annual sales by 2028. The services for the elderly and persons with disabilities market size will gain the most in China at $24.9 billion.
Market-trend-based strategies for services for the elderly and persons with disabilities market include focus on adopting innovative fall detection solutions to eliminate the need for wearable devices, developing new specialized transportation for enhanced senior mobility and developing advanced elderly care channels that combine telemedicine and personalized plans.
Player-adopted strategies in the services for the elderly and persons with disabilities market include focus on expanding operational capabilities through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the services for the elderly and persons with disabilities companies to focus on innovative fall detection solutions, focus on specialized transportation solutions, focus on advanced elderly care channels, focus on home care services segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2C promotions, focus on digital platforms and educational content and focus on the disabled adults segment.
The global services for the elderly and persons with disabilities market reached a value of nearly $421.3 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.53% since 2018. The market is expected to grow from $421.3 billion in 2023 to $591.2 billion in 2028 at a rate of 7.01%. The market is then expected to grow at a CAGR of 7.57% from 2028 and reach $851.4 billion in 2033.
Growth in the historic period resulted from the rising healthcare expenditure, growth in disposable incomes, rising demand for home care services and regulatory support for elder care services. Factors that negatively affected growth in the historic period include insufficient training to carers, selected insurance coverage and increase in elderly abuse.
Going forward, the growing prevalence of chronic diseases, increasing aging populations, increasing prevalence of accidents causing disability, government initiatives for elder care, rising awareness of elderly care services and growing investments in specialized training for caregivers will drive the market. Factors that could hinder the growth of the services for the elderly and persons with disabilities market in the future include skilled workforce shortages and insufficient public health insurance coverage.
The services for the elderly and persons with disabilities market is segmented by service type into institutional care, adult day-care and home care. The institutional care market was the largest segment of the services for the elderly and persons with disabilities market segmented by service type, accounting for 52.36% or $220.6 billion of the total in 2023. Going forward, the home care segment is expected to be the fastest growing segment in the services for the elderly and persons with disabilities market segmented by service type, at a CAGR of 8.15% during 2023-2028.
The services for the elderly and persons with disabilities market is segmented by service provider into public expenditure, private expenditure and out-of-pocket spending. The public expenditure market was the largest segment of the services for the elderly and persons with disabilities market segmented by service provider, accounting for 50.23% or $211.6 billion of the total in 2023. Going forward, the out-of-pocket spending segment is expected to be the fastest growing segment in the services for the elderly and persons with disabilities market segmented by service provider, at a CAGR of 8.61% during 2023-2028.
The services for the elderly and persons with disabilities market is segmented by end-user into elderly and disabled adults. The elderly market was the largest segment of the services for the elderly and persons with disabilities market segmented by end-user, accounting for 75.78% or $319.2 billion of the total in 2023. Going forward, the disabled adults segment is expected to be the fastest growing segment in the services for the elderly and persons with disabilities market segmented by end-user, at a CAGR of 7.18% during 2023-2028.
Western Europe was the largest region in the services for the elderly and persons with disabilities market, accounting for 38.36% or $161.2 billion of the total in 2023. It was followed by Asia-Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the services for the elderly and persons with disabilities market will be Eastern Europe and Asia-Pacific, where growth will be at CAGRs of 10.13% and 10.03% respectively. These will be followed by Africa and the Middle East, where the markets are expected to grow at CAGRs of 10.00% and 9.19% respectively.
The global services for the elderly and persons with disabilities market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 3.16% of the total market in 2023. Kindred Souls Healthcare was the largest competitor with a 1.70% share of the market, followed by Brookdale Senior Living Inc. with 0.68%, LHC Group Inc. with 0.44%, BAYADA Home Health Care with 0.15%, CK Franchising Inc. with 0.07%, Synergy Home Care with 0.029%, Home Instead Inc. with 0.027%, 24 Hour Home Care with 0.0189%, Right at Home Inc. with 0.0185% and SE Health with 0.009%.
The top opportunities in the services for the elderly and persons with disabilities market segmented by service type will arise in the institutional care segment, which will gain $77.6 billion of global annual sales by 2028. The top opportunities in the services for the elderly and persons with disabilities market segmented by service provider will arise in the public expenditure segment, which will gain $71 billion of global annual sales by 2028. The top opportunities in the services for the elderly and persons with disabilities market segmented by end user will arise in the elderly segment, which will gain $127.6 billion of global annual sales by 2028. The services for the elderly and persons with disabilities market size will gain the most in China at $24.9 billion.
Market-trend-based strategies for services for the elderly and persons with disabilities market include focus on adopting innovative fall detection solutions to eliminate the need for wearable devices, developing new specialized transportation for enhanced senior mobility and developing advanced elderly care channels that combine telemedicine and personalized plans.
Player-adopted strategies in the services for the elderly and persons with disabilities market include focus on expanding operational capabilities through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the services for the elderly and persons with disabilities companies to focus on innovative fall detection solutions, focus on specialized transportation solutions, focus on advanced elderly care channels, focus on home care services segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2C promotions, focus on digital platforms and educational content and focus on the disabled adults segment.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Services For the Elderly and Persons with Disabilities Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Services For the Elderly and Persons With Disabilities Market Segmentation
11 Services For the Elderly and Persons With Disabilities Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Services For the Elderly and Persons With Disabilities Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Services For the Elderly and Persons With Disabilities Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global services for the elderly and persons with disabilities market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- 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 research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for services for the elderly and persons with disabilities? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The services for the elderly and persons with disabilities market global report 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 history and forecasts market growth by geography. It places the market within the context of the wider services for the elderly and persons with disabilities market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by service type, by service provider and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the services for the elderly and persons with disabilities market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by service type, by service provider and by end user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies- Details on the company profiles of other major and innovative companies.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for the services for the elderly and persons with disabilities providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Service Type: Institutional Care; Adult Day-Care; Home Care2) by Service Provider: Public Expenditure; Private Expenditure; Out-of-Pocket Spending
3) by End-User: Elderly; Disabled Adults
Key Companies Mentioned: Kindred Souls Healthcare; Brookdale Senior Living Inc.; LHC Group Inc.; BAYADA Home Health Care; CK Franchising Inc.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
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; services for the services for the elderly and persons with disabilities indicators comparison.
Data Segmentation: 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.
Companies Mentioned
- Kindred Souls Healthcare
- Brookdale Senior Living Inc.
- LHC Group Inc.
- BAYADA Home Health Care
- CK Franchising Inc.
- Synergy Home Care
- Home Instead Inc.
- 24 Hour Home Care
- Right at Home Inc.
- SE Health
- HCAH
- Seniority
- Healthscope
- Ramsay Health Care
- OMRON Healthcare Inc.
- JD Health International Inc.
- Huawei
- Alibaba Health
- Yingtan Hejia Xiangyi Retirement Industry Development Co. Ltd.
- Shouyang County Xiyang Honglaonian Retirement Service Co. Ltd.
- Fushoukang (Shanghai) Medical Elderly Care Service Co. Ltd.
- Avalon Health Care
- Sensio
- Nordic Capital
- PPP Taking Care Limited
- Gamgee
- Koninklijke Philips N.V.
- Robert Bosch GmbH
- BIOTRONIK SE & Co. KG
- Digital Care Systems
- Choice Care
- Care Without Compromise Ltd.
- Home Instead Senior Care
- SuperCarers
- Caritas
- Diakonie
- German Red Cross and the Paritätische
- GreatAupair
- Careplus
- AssiDom
- Oxehealth
- 77 Elektronika Kft.
- Medapp S.A.
- Nestmedic S.A.
- Rostelecom
- GE Healthcare
- Medsi Group
- CARP Omenia
- ProMedicus Home Care Services
- ABOS Care Elderly Home IASI SRL
- ICare
- TELUS Health
- AltumView
- Electronic Caregiver, Inc.
- CBC/Radio-Canada
- HandsFree Health
- LogicMark
- Tektone Sound & Signal Mfg
- AT&T Inc.
- Reviewed
- Waud Capital Partners
- Senior Helpers
- CK Franchising, Inc.
- Living Assistance Services
- Senior Care Centers of America
- Sunrise Senior Living
- Salvador
- Orpea Groupe
- Peru
- Home Bound Healthcare
- AddusHomeCare
- Essence SmartCare Ltd
- EchoCare Technologies Pvt. Ltd
- Tamer
- Manzil Health UAE
- Pioneer Medical Services LLC.
- Aamer Home Healthcare Center
- Iveda Solutions
- MediBuddy
- Greymate Care
- Bluegate homecare
- Interim HealthCare of Lubbock
- TX
- AnsMed Home Care Limited
- Phoenix Home Care Agenc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 315 |
| Published | November 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 421.3 Billion |
| Forecasted Market Value ( USD | $ 851.4 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 85 |
