The overall elder care services market is estimated to be valued at US$ 927.1 billion in 2017 and is slated to reach a market value nearly US$1767.3 billion in the year end 2025. This billion dollar market is projected to grow progressively at a CAGR of 8.4% during the assessment period.
The overall market is segmented into service type, financing source and region.
Forecast by service type
Based on service type, the market is sub-segmented into institutional care, home-based care and community-based care. The institutional care segment is projected to account for nearly 75% of revenue share of the market in 2025 and remain lucrative throughout the forecast period. However, by 2025, the community-based care remains the second leading sector to account for nearly 18% revenue share of the market.
Forecast by financing source
In terms of financing source, the overall market is sub-segmented into out-of-pocket spending, public expenditure and private source. The public expenditure majorly finances the overall elder care services market, exhibiting a CAGR of 7.9% during the assessment period. The out-of-pocket spending will remain the second most lucrative market by recording a CAGR of 9.4% growth during 2017–2025
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Forecast by region
The global market is studied across the five prominent regions
• Middle East & Africa
• North America
• Asia Pacific
• Latin America
The European market remains the leading market for the elder care services accounting for 37% revenue share of the market in 2017. North America is estimated as the second leading market accounting for around 30% of revenue share in the beginning of the forecast period. Although, the APAC market is projected to witness a CAGR of 11.0% as the emergent market throughout the projection period.
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The key companies in the overall elder care services market include,
• Econ Healthcare Group
• St Luke’s ElderCare Ltd
• Samvedna Senior Care
• Benesse Style Care Co. Ltd
• Epoch Elder Care
• Latin America Home Health Care
• ApnaCare Latin America Private Limited
• NTUC Health Co-Operative Ltd
• Nichiigakkan Co. Ltd
• Orange Valley Healthcare
• Golden Years Hospital
• SASCO Integrated Eldercare Centre
• GoldenCare Group Private Limited
• Carewell-Service Co., Ltd, RIEI Co. Ltd
• Pacific Healthcare Nursing Home
• Cascade Healthcare
• Millennia Personal Care Services
• United Medicare Pvt Ltd.
• Rosewood Care Group Inc.