About Elder Care Services
Elder care is a special care service designed to meet the fulfillment of the special needs and requirements that are unique to senior citizens. Elder care services become necessary when old people start facing troubles with daily life activities like bathing, cleaning, cooking, taking medicines, etc. These services are designed to meet the varied needs and requirements of senior citizens.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that Singaporean Players will contribute the maximum growth to Global Elder Care Services 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.
Benesse Style Care Co., Ltd (Japan), Econ Healthcare Group (Singapore), Epoch Elder Care (India), St Luke's ElderCare Ltd (Singapore), Samvedna Senior Care (India), Orange Valley Healthcare (Singapore), NTUC Health Co-Operative Ltd (Singapore) and GoldenCare Group Private Limited (Singapore) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are United Medicare Pvt. Ltd (United States), SNCF (France) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Elder Care Services market by Type (Home-Based Care, Community-Based Care and Institutional Care), Application (Community, Gerocomium and Others) and Region.
On the basis of geography, the market of Elder Care Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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).
Influencing Trend:
Increased Penetration of the Internet
Market Growth Drivers:
Increased Number of Geriatric Population Worldwide, Rise in the Number of Nuclear Families and High Expenditure of Hospitalization
Challenges:
Security Concerns Related to Elderly People
Restraints:
Lack of Awareness in Developing Countries about Elder Care Services
Opportunities:
Growth in the Service Industry Worldwide and Increasing Incidences of Chronic Diseases
Market Leaders and their expansionary development strategies
In August 2021, Age Care Labs, the platform anchored by Lumis to build, buy and invest into businesses in senior care, announced the completion of its acquisition of Epoch Elder Care, a provider of expert dementia care and assisted living homes for elders.
In October 2023, announced the launch of Tata AIG Elder Care, a health insurance policy for senior citizens that will provide medical cover benefits, day-care procedures, home nursing service, physiotherapy, preventive health and wellness features.
Key Target Audience
Elder Care Services Providers, Emerging Companies, Research Professionals and End-users
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.