The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Individual And Family Services Global Market Report 2024, the individual and family services market is expected to show significant growth in the forecast period.

The individual and family services market has undergone robust growth, from $918.62 billion in 2023 to an anticipated $976.57 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 6.3%. A deeper look into the forecast period reveals an even stronger trajectory, with the market projected to reach $1235.86 billion in 2028, propelled by factors such as mental health awareness, an aging population, and the evolution of digital counseling and telehealth.

Role Of Individual And Family Services In Combating Abuse And Neglect: Abuse and Neglect as Drivers: The market’s growth is significantly driven by the increasing incidents of abuse and neglect, particularly towards children and the elderly. Vulnerable populations are at risk from family, friends, institutions, and others. Shockingly, the World Health Organization reported that 1 in 6 people aged 60 and older experienced some form of abuse in 2022.

Alarming Statistics: Analysis from the Child Maltreatment Report highlighted the severity of the issue, with 60.8% of child victims facing neglect, 10.7% enduring physical abuse, and 7.0% subjected to sexual abuse. More than 15% suffered from two or more types of maltreatment. The consequences of abuse and neglect manifest in physical injuries, emotional and psychological problems, increasing the need for non-residential social assistance services.

Market Response: Major companies, including CARE International and UNICEF, operate in the individual and family services market, addressing the urgent need for intervention and support for those affected by abuse and neglect.

View More On The Individual And Family Services Market Report 2024 – https://www.thebusinessresearchcompany.com/report/individual-and-family-services-global-market-report

Companies Increasing Focus On Flexibility To Gain Competitive Edge: Introduction of Flexibility Programs: To gain a competitive edge, major companies in the individual and family services market are focusing on flexibility programs. Notably, Amazon’s FamilyFlex program, launched in December 2021, provides hourly employees with flexibility, expansive benefits, and access to care options, financial resources, and referral services for childcare, elder care, and mental health.

Family Resource Home Care Expands Its Footprint: Strategic Acquisition: In August 2023, Family Resource Home Care made a significant move by acquiring Companion Care Inc., a personal care provider for seniors and individuals with disabilities. The undisclosed acquisition is poised to broaden Family Resource Home Care’s reach and services in the competitive homecare market.

Market Segmentation: Types of Services: The individual and family services market is segmented into Child and Youth Services, Services for the Elderly and Persons with Disabilities, and Other Individual and Family Services.

Modes of Service Delivery: Segmentation based on service delivery modes includes Online and Offline options.

Applications: Diverse applications cater to various needs, such as the Food Stamp Program, Disaster Relief Services, Adoption Services, and Self-help initiatives.

Western Europe Takes the Lead: Regional Dominance: In 2023, Western Europe emerged as the largest region in the individual and family services market. The region’s leadership position reflects its commitment to addressing the diverse needs of individuals and families through comprehensive services.

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The Individual And Family Services Global Market Report 2024  provides an in-depth analysis on the individual and family services market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the individual and family services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Community And Individual Services Global Market Report 2023
Services For The Elderly And Persons With Disabilities Global Market Report 2023
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