Elderly Care Services Market Growth Analysis with Investment Opportunities For 2024-2033

The Business Research Company's Elderly Care Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 16, 2024 /EINPresswire.com/ -- The elderly care services market has shown strong growth recently, increasing from $967.57 billion in 2023 to $1,044.86 billion in 2024, reflecting a CAGR of 8%. The rise can be attributed to the growing prevalence of chronic diseases, an aging population, government initiatives, shifts in family structures, and increased awareness of care services.

What Is The Estimated Market Size Of The Global Elderly Care Services Market And Its Annual Growth Rate?

The elderly care services market is forecasted to grow significantly, reaching $1,428.11 billion by 2028, with a CAGR of 8.1%. This growth is driven by the aging population, increased healthcare infrastructure investment, expansion of home care, and heightened awareness. Key trends include innovations in integrated care models, medical devices, telemedicine, and technological advancements.

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Growth Driver of The Elderly Care Services Market

The rising prevalence of chronic conditions among seniors, such as diabetes, heart disease, and chronic respiratory issues, is expected to fuel the elderly care services market. These conditions are increasing due to lifestyle factors like poor diet, smoking, and inactivity, along with aging and genetic predispositions. Elderly care services provide tailored support to address these health challenges.

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Which Market Players Are Driving The Elderly Care Services Market Growth?

Major companies operating in the elderly care services market are Korian Group, Nichiigakkan Co. Ltd, BrightStar Care, ComForCare, RIEI Co. Ltd., Benesse Style Care Co. Ltd, NTUC Health Co-Operative Ltd, NMC ProVita International Medical Centre, Home Instead Inc, Econ Healthcare Group, Caring Senior Service, Living Assistance Services Inc., Orange Valley Healthcare, Cascade Living Group, Rosewood Care Group Inc., St Luke’s Elder Care Ltd, FirstLight Home Care, ApnaCare India Pvt, Epoch Elder Care, United Medicare Centre, SASCO Integrated Eldercare Centre, Samvedna Senior Care, Carewell-Service Co. Ltd., Always Best Care

What Are The Emerging Trends Shaping The Elderly Care Services Market Size?

Leading companies in the elderly care services market are creating smart, cloud-based platforms for elderly care to improve remote monitoring and personalized care. These smart elderly care cloud-based platforms utilize cloud technology to deliver management, monitoring, and support services for older adults, thereby enhancing their care and quality of life.

How Is The Global Elderly Care Services Market Segmented?

1) By Service Type: Homecare, Institutional Care, Adult Day Care, Other Services
2) By Service Provider: Public, Private
3) By Application: Diabetes, Alzheimer's, Respiratory Diseases, Neurological Disorders, Heart Diseases, Cancer, Other Applications

Geographical Insights: North America Leading The Elderly Care Services Market

North America was the largest region in the elderly care services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the elderly care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Elderly Care Services Market Definition

Elderly care services include a wide range of professional and personal support tailored to meet the needs of older adults, offering help with daily activities, medical care, and emotional support. These services aim to enhance seniors' quality of life by ensuring their safety and well-being while promoting independence and dignity.

Elderly Care Services Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global elderly care services market report covering trends, opportunities, strategies, and more

The Elderly Care Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on market size, drivers and trends, market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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Oliver Guirdham
The Business Research Company
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