Elderly Care Market is estimated to be US$ 2231.95 billion by 2030 with a CAGR of 8.90% during the forecast period

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Published Date: April 2023

Elderly Care Market accounted for US$ 954.23 billion in 2020 and is estimated to be US$ 2231.95 billion by 2030 and is anticipated to register a CAGR of 8.90%. Geriatric care management combines medical and psychological care with other essential services such as housing, home care, nutrition, assistance with activities of daily living, socializing programs, and financial and legal planning (e.g. banking, trusts). Following a thorough assessment, a care plan tailored to unique circumstances is created, which is then monitored and changed as needed. The primary product segments of the geriatric care services market include home care, adult day care, and institutional care services. Home health care and nonmedical home care are two types of home care services.

The report " Global Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), By Service (Institutional Care, Homecare, Adult Day Care), By Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

In June 2021, The Ministry of Social Justice and Empowerment established the Senior Care Ageing Growth Engine (SAGE) project. The scheme was introduced by Thaawarchand Gehlot, Ramdas Athawale, and Rattan Lal Kataria, ministers of social justice and empowerment, as well as R. Subrahmanyam, Secretary of the Department of Social Justice.

Analyst View:

Recent research indicates that a rise in illnesses such as diabetes, stroke, high blood pressure, and other lifestyle variables has resulted in an increase in the incidence of Alzheimer's disease, pushing the demand for skilled nursing care services. Furthermore, comorbidities like diabetes, renal insufficiency, arthritis, and metabolic abnormalities are widespread among the elderly, making them more vulnerable to infection. Furthermore, the market for geriatric care services is being driven by a combination of increased comorbid illnesses and a decrease in immune system activity in the elderly population. In addition, recent technology advancements in geriatric care services would help the market grow in the future.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), By Service (Institutional Care, Homecare, Adult Day Care), By Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”

Key Market Insights from the report:

Global Elderly Care Market accounted for US$ 954.23 billion in 2020 and is estimated to be US$ 2231.95 billion by 2030 and is anticipated to register a CAGR of 8.90%. The Global Elderly Care Market is segmented based on Product type, Service, Application and region.

Based on Product Type, Global Elderly Care Market is segmented into Pharmaceuticals, Housing and Assistive Devices.
Based on Service, Global Elderly Care Market is segmented into Institutional Care, Homecare, Adult Day Care.
Based on Application, Global Elderly Care Market is segmented into Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory and Others.
By Region, the Global Elderly Care Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Elderly Care Market:

The key players operating in the elderly care market are Benesse Style Care Co., Ltd., ECON Healthcare Group, Epoch Elder Care, St Luke's ElderCare Ltd., Latin America Home Health Care, Samvedna Senior Care, ApnaCare Latin America Private Limited, Nichiigakkan Co. Ltd., Golden Years Hospital Orange Valley Healthcare, Orange Valley Healthcare, NTUC Health Co-Operative Ltd. and GoldenCare Group Private Limited.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period