Comprehensive Analysis of the Services For the Elderly And Persons with Disabilities Market 2025-2034: Growth Rates, Trends, and Future Opportunities
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How has the services for the elderly and persons with disabilities market size evolved in recent years?
In recent times, the market size for services catering to the elderly and individuals with disabilities has seen substantial growth. Projected to elevate from $454.5 billion in 2024 to $489.31 billion in 2025, the sector boasts a compound annual growth rate (CAGR) of 7.7%. The historical growth can be associated with factors such as declining household sizes, burgeoning economies in emerging markets, a rise in the elderly population, advancement in technology and mobile applications, governmental support for elder care, an increasing frequency of diseases, and reforms in health insurance.
What are the predictions for the services for the elderly and persons with disabilities market size in the coming years?
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What key factors are fueling the growth of the services for the elderly and persons with disabilities market?
The dwindling size of households, along with a rapidly oldening demographic, is expected to stimulate the growth of the market for services aimed at the elderly and disabled. This decrease in household size is largely due to the shrinking number of individuals residing as a family unit. For example, in November 2022, the Public Policy Institute of California, a U.S.-based research organization, reported that the average household size had seen a considerable drop since the start of the pandemic, falling to 2.85 in 2021 and further decreasing by 1.4% to reach 2.81 in 2022. Concurrently, the swelling demographic of the aging populace is stoking an increased demand for services for elderly individuals, thereby buoying market revenues. For instance, a World Health Organization (WHO) report released in October 2022 predicted that, by 2030, one in six people globally will be 60 years of age or older. By 2050, the number of individuals worldwide who are aged 60 or older will stand at 2.1 billion. Furthermore, between 2020 and 2050, the number of people aged 80 or older will have risen by 426 million. This escalating need for care facilities for this aging demographic translates into increased demand for services for the elderly and disabled, thereby fuelling the growth of the market for services aimed at the elderly and people with disabilities.
How is the global services for the elderly and persons with disabilities market divided into key segments?
The services for the elderly and persons with disabilities market covered in this report is segmented –
1) By Type of Service: Institutional Care, Adult Day Care, Home Care
2) By Service Provider: Public Expenditure, Private Expenditure, Out of Pocket Spending
3) By End User: Elderly, Disabled Adults
Subsegments:
1) By Institutional Care: Nursing Homes, Assisted Living Facilities, Rehabilitation Centers
2) By Adult Day Care: Social And Recreational Programs, Medical Supervision And Assistance, Meal Services And Transportation
3) By Home Care: Personal Care Services, Companionship Services, Skilled Nursing Services
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Who are the key firms paving the way for growth in the services for the elderly and persons with disabilities market?
Major companies operating in the services for the elderly and persons with disabilities market include CK Franchising Inc, 24 Hour Home Care, Home Instead Inc, SE Health, Right at Home Inc., Living Assistance Services, Synergy Home Care, Happier At Home, Senior Helping Seniors, Home Care Assistance, Yingtan Hejia Xiangyi Retirement Industry Development Co. Ltd., Shouyang County Xiyang Honglaonian Retirement Service Co. Ltd., Avalon Health Care, Careplus, Choice Care, Care Without Compromise Ltd., SuperCarers, Caritas, Diakonie, German Red Cross and the Paritätische, AssiDom, Oxehealth, Orpea Groupe, CARP Omenia, ProMedicus Home Care Services, ABOS Care Elderly Home IASI SRL, Fushoukang (Shanghai) Medical Elderly Care Service Co. Ltd., BAYADA Home Health Care, GreatAupair, ICare, Brookdale Senior Living Inc., Senior Care Centers of America, Sunrise Senior Living, Home Bound Healthcare, AddusHomeCare, Interim HealthCare of Lubbock, Phoenix Home Care Agency, Manzil Health, Pioneer Medical Services LLC., Aamer Home Healthcare Center, Greymate Care, Bluegate homecare, AnsMed Home Care Limited
Which trends are expected to transform the services for the elderly and persons with disabilities market?
Leading businesses in the market for services for the elderly and people with disabilities are emphasizing on innovative approaches like compassionate case management awareness. This method is meant to boost awareness, foster independence, and link more people with disabilities and complicated needs to fundamental support services in various communities. Compassionate case management awareness centers on acknowledging and highlighting the significance of empathy, comprehension, and support in overseeing medical cases, thereby improving patient care and outcomes. For instance, in October 2024, Service Coordination, Inc., a US-based nonprofit entity, introduced a new public service announcement (PSA) named “Improving Communities Through Care and Compassion.” This PSA is intended to amplify awareness about the organization’s devotion to offering personalized case management services to individuals with disabilities and complicated medical conditions, with a focus on choice and independence. By broadcasting on significant networks throughout all 50 states, the campaign considerably expands its community outreach, ensuring a larger number of people are linked to essential resources and support services capable of enhancing their life quality.
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What regions are contributing significantly to the growth of the services for the elderly and persons with disabilities market?
Western Europe was the largest region in the services for the elderly and persons with disabilities market in 2024. Asia-Pacific was the second-largest region in the global services for the elderly and persons with disabilities market share. The regions covered in the services for the elderly and persons with disabilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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