Services market for the elderly and the disabled
Elderly and Disabled Services Market – by type of service (institutional care, adult day care, home care), by end user (disabled adults, elderly), by service provider (public expenditure, private expenditure, excluding pocket expenditure) and by region, opportunities and strategies – Global forecasts to 2030
The global elderly and disabled services market reached a value of nearly $ 335,878.8 million in 2020, after growing at a compound annual growth rate (CAGR) of 4.4% since 2015. The market is expected to grow from $ 335,878.8 million in 2020 to $ 558,758.4 million in 2025 at a rate of 10.7%. The market is then expected to grow at a CAGR of 8.5% from 2025 to reach $ 842,039.8 million in 2030.
The main drivers of the elderly and disabled services market are:
The rapid growth of the geriatric population is expected to drive the demand for elderly care services during the forecast period. The elderly population is prone to many physical disorders which increase the demand for patient handling equipment. The proportion of people over 65 is expected to increase globally and with it age-related neurological disorders are also expected to increase. For example, the percentage of the elderly population is expected to drop from 28% in 2019 to 38% in 2050 in Japan. Hence, the increase in the geriatric population would lead to an increase in the demand for patient handling equipment, thereby boosting the patient handling equipment market during the forecast period.
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Segmentation of the services market for the elderly and disabled: –
By type of service –
a) Institutional care
b) Daycare for adults
c) Home care
By end user –
a) Adults with disabilities
By service provider –
a) Public expenditure
b) Private expenditure
c) Direct expenses
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By geography – The elderly and disabled services market is segmented into
2. Western Europe
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Some of the major key players involved in the elderly and disabled services market are
1. Franchise CK inc.
2. Home Place Inc.
3. SF Health
4. 24 hour home care
5. Assisted living services
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