About Elder Care
Eldercare, on the other hand, frequently becomes a concern when a loved one begins to struggle with activities of daily life, both comfortably and economically. Eldercare is a type of specialized care that is meant to satisfy the needs and requirements of elderly individuals at various phases of their lives. As a result, the phrase "elder care" is quite wide, encompassing anything from assisted living and nursing care to adult daycare, home care, and even hospice. Even while old age is not in and of itself a reason to consider elder care, it is generally the numerous illnesses and physical issues that come with old age that spark a discussion about eldercare.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Elder Care is increasing due to various problems of Old People with each passing day. The Companies in this industry are facing many challenges. Many worldwide and regional service providers participate in the sector and compete directly with industry leaders. Companies are differentiating their products from the competition by employing innovative technology and advanced manufacturing techniques. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Elder Care market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Interim HealthCare Inc (United States), Revera (Canada), Sunrise Senior Living (United States), National Mentor Holdings, Inc (United States), Orpea (France), Korian (France), Four Seasons Healthcare (United States), Brookdale Senior Living (United States), Attendo (Sweden) and Clover Health (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Home Instead Senior Care (United States), FirstLight Fiber (United States and Nurse Next Door (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Elder Care market by Type (Independent Living, Assisted Living, Memory Care, Respite Care and Others) and Region.
On the basis of geography, the market of Elder Care has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Patient Care, the sub-segment i.e. Primary Care will boost the Elder Care market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services, the sub-segment i.e. Home-Based Care will boost the Elder Care market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Income Source, the sub-segment i.e. Public Expenditure will boost the Elder Care market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development of Service Robots in Elder Care Services and Rise of Sandwich Generation
Market Growth Drivers:
Physical Problems, Cognitive Problems, and Emotional Problems among Senior Citizens and Increased Demand for Elder Care Services for Disabled Senior Citizens
Challenges:
Lack of Infrastructure in Developing Nations is a Key Barrier
Restraints:
Elder Care Market was Hampered by Covid19
Opportunities:
High Hospital Costs, Advanced Health Care Technology and Study Insurance Policies and Growing Prevalence of Elder Care across the Globe
Market Leaders and their expansionary development strategies
In July 2019 The Mentor Network a Subsidiary of National Mentor Holding Released a Statement Announcing the Acquisition of Just Family, Inc. This acquisition gives The MENTOR Network access to the Kentucky ADH market, expanding its ADH geographic presence to a fifth state. Just Family, Inc.'s continuum of service allows seniors to preserve their freedom and dignity while avoiding institutional care, which is consistent with the purpose.
In October 2023, announced the launch of Tata AIG Elder Care, a health insurance policy for senior citizens that has provide medical cover benefits, day-care procedures, home nursing service, physiotherapy, preventive health and wellness features.
Key Target Audience
Venture and Capitalist, New Entrants/Investors, Analysts and Strategic Business Partners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.