Global Elderly Care Market Overview
The medical care of older or elderly people is referred to as geriatric care. The scope of care has expanded to address not only medical but also psychological and social requirements of the elderly. Geriatric care now incorporates a holistic approach to coping with ageing and its affects more than ever before. 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 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%.
Global Elderly Care Market Dynamics
Significant increase in the ageing population will drive the growth of the Market
Globally, a significant increase in the ageing population has increased the demand for competent nursing care services. One of the primary factors driving the growth of the global skilled nursing care services market is the rising number of patients suffering from Alzheimer's disease, as well as the high incidence of dementia, a prevalent form of Alzheimer's disease. For instance, According to the World Health Organization, over 47.5 million individuals worldwide suffer from dementia, with 7.7 million new cases diagnosed each year (WHO). Furthermore, 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.
On the contrary, the market has been restrained by high costs of skilled nursing care services, as well as poor acceptability of these 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 boost the market's growth in the next years.
Global Elderly Care Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The Global Elderly Care Market is segmented based on product type, service, application and region.
On the basis of Product Type, the Global Elderly Care Market is segmented into Pharmaceuticals, Housing and Assistive Devices. Based on Service, the target market is segmented into Institutional Care, Homecare, and Adult Day Care. Based on Application, the target market is segmented into Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory and Others.
Regional Insights:
Source: Prophecy Market Insights
On region the Global Elderly Care Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, North America is expected to account for the majority of the global elderly care market. This is due to the well-established health-care infrastructure and related elder-care operations. Families prefer to give their ageing relatives and others the best possible care. In the coming years, this is projected to boost the market in North America. However, the European market is expected to expand rapidly in the near future. This can be due to a high level of public knowledge about the importance of providing maximum comfort to the elderly. In Asia Pacific, elder care has improved, owing to government initiatives to provide maximal health care and stability through a variety of schemes.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
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Market Segmentation |
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 |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Elderly Care Market report based on Product Type, Service, Application and region.
Global Elderly Care Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Elderly Care Market Key Players
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
Global Elderly Care Market Company Profile
- Benesse Style Care Co., Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ECON Healthcare Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Epoch Elder Care
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- St Luke's ElderCare Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Latin America Home Health Care
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Samvedna Senior Care
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ApnaCare Latin America Private Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nichiigakkan Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Elderly Care Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Elderly Care Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Service
- Market Snippet, By Application
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Elderly Care Market, By Product Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Pharmaceuticals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Housing and Assistive Devices
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Elderly Care Market, By Service, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Institutional Care
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Homecare
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Adult Day Care
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Elderly Care Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Heart Diseases
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Cancer
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Kidney Disease
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Diabetes
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Arthritis
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Osteoporosis
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Neurological
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Respiratory
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Elderly Care Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Benesse Style Care Co., Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ECON Healthcare Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Epoch Elder Care
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- St Luke's ElderCare Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Latin America Home Health Care
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Samvedna Senior Care
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ApnaCare Latin America Private Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nichiigakkan Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Global Elderly Care Market is segmented based on product type, service, end-user and region.
Significant increase in the ageing population is major factor driving the market.
During the forecast period, North America is expected to dominate the 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.