Product Code: PMRREP3427
Persistence Market Research presents an exhaustive analysis of the global elder care services market, providing insights into key dynamics, growth drivers, challenges, and emerging trends. This comprehensive report offers exclusive data and statistics, forecasting the market's trajectory from 2024 to 2031.
This growth trajectory is attributed to several key factors including demographic shifts, technological advancements, and evolving healthcare needs of aging populations worldwide.
Report Scope
- Elder Care Services Market Size (2024): US$ 1.52 Bn
- Projected Market Value (2031): US$ 2.56 Bn
- Global Market Growth Rate (2024-2031): 7.6%
Market Introduction and Definition:
The elder care services market encompasses a wide range of services dedicated to addressing the health, social, and personal care needs of elderly individuals. These services include assisted living, nursing care, home healthcare, adult day care, and specialized dementia care, among others. As the global population ages, fueled by longer life expectancies and declining birth rates, the demand for elder care services is escalating. This market caters to the diverse needs of elderly individuals and their families, offering solutions that prioritize safety, comfort, and quality of life.
Market Growth Drivers:
Several factors are driving the growth of the elder care services market. Firstly, demographic trends such as the aging baby boomer population and increasing life expectancy are contributing to rising demand for elder care services. Additionally, changing family structures and urbanization are leading to a decline in traditional familial caregiving arrangements, further boosting the need for professional elder care services. Moreover, advancements in healthcare technologies, such as telemedicine and wearable devices, are enabling more personalized and efficient care delivery, enhancing the attractiveness of elder care services.
Market Restraints:
Despite the promising growth prospects, the elder care services market faces certain challenges. One of the primary concerns is the cost associated with high-quality elder care services, which can be prohibitive for many individuals and families. Additionally, there is a shortage of skilled healthcare professionals specialized in geriatric care, leading to workforce shortages and quality-of-care issues in some regions. Furthermore, regulatory complexities and reimbursement challenges pose barriers to market entry and expansion for elder care service providers.
Opportunities:
Despite the challenges, the elder care services market presents significant opportunities for innovation and growth. There is a growing trend towards consumer-centric care models, including home-based care and community-based services, which offer cost-effective and personalized alternatives to traditional institutional care settings. Moreover, the integration of digital health solutions and artificial intelligence in elder care services holds promise for improving care coordination, monitoring, and outcomes. Additionally, partnerships between healthcare providers, technology companies, and insurers can drive the development of holistic elder care ecosystems that enhance access, affordability, and quality of care.
Key Questions Answered in the Report:
- Which regions are expected to witness the highest growth in the elder care services market?
- What are the key factors influencing the adoption of elder care services globally?
- How are technological advancements reshaping the landscape of elder care service delivery?
- Who are the leading players driving innovation and market expansion in the elder care services sector?
- What are the emerging trends and future prospects in the global elder care services market?
Competitive Intelligence and Business Strategy:
Leading players in the elder care services market focus on strategic initiatives such as mergers and acquisitions, partnerships, and geographic expansion to strengthen their market presence. Companies invest in technology integration and staff training to enhance service quality and efficiency, gaining a competitive edge in the market.
Key Companies Profiled:
- Eldercare Services
- Korian Group
- Provita International Medical Center, LLC
- Home Instead, Inc.
- Living Assistance Services, LLC
- Bennesse Style Care Co. Ltd.
- Econ Healthcare Group
- Epoch Elder Care
- St. Luke's ElderCare Ltd
Elder Care Services Market Research Segmentation:
Key Segments Covered in Elder Care Services Industry Survey
Elder Care Services Market by Service:
- Home-based Care
- Community-based Care
- Institutional Care
Elder Care Services Market by Financing Source:
- Public Expenditure
- Private Source
- Out-of-Pocket Spending
Elder Care Services Market by Region:
- North America
- Europe
- East Asia
- South Asia & Oceania
- Latin America
- Middle East & Africa
Table of Contents
1. Executive Summary
- 1.1. Market Outlook
- 1.2. Analysis and Recommendations
2. Market Overview
- 2.1. Market Coverage / Taxonomy
- 2.2. Market Definition / Scope / Limitations
3. Market Dynamics
- 3.1. Macro-Economic Factors
- 3.1.1. Drivers
- 3.1.2. Restraints
- 3.1.3. Trends
- 3.1.4. Comparison of Elderly Population with GDP per Capita, 2024
4. Global Elder Care Services Market (in Value or Size in US$ Mn) Analysis 2014-2021 and Forecast, 2024-2031
- 4.1. Historical Market Value (US$ Mn) Analysis, 2014-2021
- 4.2. Current and Future Market Value (US$ Mn) Projections, 2024-2031
- 4.2.1. Y-o-Y Growth Trend Analysis
- 4.2.2. Absolute $ Opportunity Analysis
- 4.2.3. Market Value Comparison
5. Global Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031, By Service
- 5.1. Introduction / Key Findings
- 5.2. Historical Market Size (US$ Mn) Analysis, By Service, 2014-2021
- 5.3. Current and Future Market Size (US$ Mn) Analysis, By Service, 2024-2031
- 5.3.1. Home-based Care
- 5.3.2. Community-based care
- 5.3.3. Institutional Care
- 5.4. Market Attractiveness Analysis, By Service
6. Global Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031, By Financing Source
- 6.1. Introduction / Key Findings
- 6.2. Historical Market Size (US$ Mn) Analysis, By Financing Source, 2014-2021
- 6.3. Current and Future Market Size (US$ Mn) Analysis, By Financing Source, 2024-2031
- 6.3.1. Public Expenditure
- 6.3.2. Private Source
- 6.3.3. Out-of-Pocket Spending
- 6.4. Market Attractiveness Analysis, By Financing Source
7. Global Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031, by Region
- 7.1. Introduction / Key Findings
- 7.2. Historical Market Size (US$ Mn) Analysis, By Region, 2014-2021
- 7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2024-2031
- 7.3.1. North America
- 7.3.2. Latin America
- 7.3.3. Europe
- 7.3.4. Asia Pacific
- 7.3.5. Middle East & Africa
- 7.4. Market Attractiveness Analysis, By Region
8. North America Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031
- 8.1. Introduction
- 8.2. Historical Market Size (US$ Mn) Trend Analysis, By Market Taxonomy, 2014-2021
- 8.3. Market Size (US$ Mn) Trend Analysis and Forecast By Market Taxonomy, 2024-2031
- 8.3.1. By Country
- 8.3.1.1. U.S.
- 8.3.1.2. Canada
- 8.3.2. By Service
- 8.3.3. By Financing Source
- 8.4. Market Attractiveness Analysis
- 8.4.1. By Country
- 8.4.2. By Service
- 8.4.3. By Financing Source
9. Latin America Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031
- 9.1. Introduction
- 9.2. Historical Market Size (US$ Mn) Trend Analysis, By Market Taxonomy, 2014-2021
- 9.3. Current and Future Market Size (US$ Mn) Trend and Analysis and Forecast By Market Taxonomy, 2024-2031
- 9.3.1. By Country
- 9.3.1.1. Brazil
- 9.3.1.2. Mexico
- 9.3.1.3. Argentina
- 9.3.1.4. Rest of Latin America
- 9.3.2. By Service
- 9.3.3. By Financing Source
- 9.4. Market Attractiveness Analysis
- 9.4.1. By Country
- 9.4.2. By Service
- 9.4.3. By Financing Source
10. Europe Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031
- 10.1. Introduction
- 10.2. Historical Market Size (US$ Mn) Trend Analysis, By Market Taxonomy, 2014-2021
- 10.3. Current and Future Market Size (US$ Mn) Trend and Analysis and Forecast By Market Taxonomy, 2024-2031
- 10.3.1. By Country
- 10.3.1.1. Germany
- 10.3.1.2. Italy
- 10.3.1.3. France
- 10.3.1.4. U.K.
- 10.3.1.5. Spain
- 10.3.1.6. BENELUX
- 10.3.1.7. Russia
- 10.3.1.8. Rest of Europe
- 10.3.2. By Service
- 10.3.3. By Financing Source
- 10.4. Market Attractiveness Analysis
- 10.4.1. By Country
- 10.4.2. By Service
- 10.4.3. By Financing Source
11. Asia Pacific Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031
- 11.1. Introduction
- 11.2. Historical Market Size (US$ Mn) Trend Analysis, By Market Taxonomy, 2014-2021
- 11.3. Current and Future Market Size (US$ Mn) Trend Analysis and Forecast By Market Taxonomy, 2024-2031
- 11.3.1. By Country
- 11.3.1.1. India
- 11.3.1.2. Thailand
- 11.3.1.3. Indonesia
- 11.3.1.4. Malaysia
- 11.3.1.5. Rest of South Asia
- 11.3.2. By Service
- 11.3.3. By Financing Source
- 11.4. Market Attractiveness Analysis
- 11.4.1. By Country
- 11.4.2. By Service
- 11.4.3. By Financing Source
12. Middle East and Africa Elder Care Services Market Analysis 2014-2021 and Forecast 2024-2031
- 12.1. Introduction
- 12.2. Historical Market Size (US$ Mn) Trend Analysis, By Market Taxonomy, 2014-2021
- 12.3. Current and Future Market Size (US$ Mn) Trend and Analysis and Forecast By Market Taxonomy, 2024-2031
- 12.3.1. By Country
- 12.3.1.1. GCC Countries
- 12.3.1.2. Turkey
- 12.3.1.3. Northern Africa
- 12.3.1.4. South Africa
- 12.3.1.5. Rest of Middle East and Africa
- 12.3.2. By Service
- 12.3.3. By Financing Source
- 12.4. Market Attractiveness Analysis
- 12.4.1. By Country
- 12.4.2. By Service
- 12.4.3. By Financing Source
13. Competition Analysis
- 13.1. Competition Dashboard
- 13.2. Competition Deep Dive
- 13.2.1. Eldercare Services.
- 13.2.1.1. Overview
- 13.2.1.2. Product Portfolio
- 13.2.1.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.1.4. Sales Footprint
- 13.2.1.5. Strategy Overview
- 13.2.1.5.1. Marketing Strategy
- 13.2.1.5.2. Service Strategy
- 13.2.1.5.3. Channel Strategy
- 13.2.2. Korian Group
- 13.2.2.1. Overview
- 13.2.2.2. Product Portfolio
- 13.2.2.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.2.4. Sales Footprint
- 13.2.2.5. Strategy Overview
- 13.2.2.5.1. Marketing Strategy
- 13.2.2.5.2. Service Strategy
- 13.2.2.5.3. Channel Strategy
- 13.2.3. ProVita International Medical Center, LLC
- 13.2.3.1. Overview
- 13.2.3.2. Product Portfolio
- 13.2.3.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.3.4. Sales Footprint
- 13.2.3.5. Strategy Overview
- 13.2.3.5.1. Marketing Strategy
- 13.2.3.5.2. Service Strategy
- 13.2.3.5.3. Channel Strategy
- 13.2.4. Home Instead, Inc
- 13.2.4.1. Overview
- 13.2.4.2. Product Portfolio
- 13.2.4.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.4.4. Sales Footprint
- 13.2.4.5. Strategy Overview
- 13.2.4.5.1. Marketing Strategy
- 13.2.4.5.2. Service Strategy
- 13.2.4.5.3. Channel Strategy
- 13.2.5. Living Assistance Services, Inc.
- 13.2.5.1. Overview
- 13.2.5.2. Product Portfolio
- 13.2.5.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.5.4. Sales Footprint
- 13.2.5.5. Strategy Overview
- 13.2.5.5.1. Marketing Strategy
- 13.2.5.5.2. Service Strategy
- 13.2.5.5.3. Channel Strategy
- 13.2.6. Benesse Style Care Co., Ltd
- 13.2.6.1. Overview
- 13.2.6.2. Product Portfolio
- 13.2.6.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.6.4. Sales Footprint
- 13.2.6.5. Strategy Overview
- 13.2.6.5.1. Marketing Strategy
- 13.2.6.5.2. Service Strategy
- 13.2.6.5.3. Channel Strategy
- 13.2.7. Econ Healthcare Group
- 13.2.7.1. Overview
- 13.2.7.2. Product Portfolio
- 13.2.7.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.7.4. Sales Footprint
- 13.2.7.5. Strategy Overview
- 13.2.7.5.1. Marketing Strategy
- 13.2.7.5.2. Service Strategy
- 13.2.7.5.3. Channel Strategy
- 13.2.8. Epoch Elder Care
- 13.2.8.1. Overview
- 13.2.8.2. Product Portfolio
- 13.2.8.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.8.4. Sales Footprint
- 13.2.8.5. Strategy Overview
- 13.2.8.5.1. Marketing Strategy
- 13.2.8.5.2. Service Strategy
- 13.2.8.5.3. Channel Strategy
- 13.2.9. St Luke's ElderCare Ltd
- 13.2.9.1. Overview
- 13.2.9.2. Product Portfolio
- 13.2.9.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.9.4. Sales Footprint
- 13.2.9.5. Strategy Overview
- 13.2.9.5.1. Marketing Strategy
- 13.2.9.5.2. Service Strategy
- 13.2.9.5.3. Channel Strategy
- 13.2.10. India Home Health Care
- 13.2.10.1. Overview
- 13.2.10.2. Product Portfolio
- 13.2.10.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.10.4. Sales Footprint
- 13.2.10.5. Strategy Overview
- 13.2.10.5.1. Marketing Strategy
- 13.2.10.5.2. Service Strategy
- 13.2.10.5.3. Channel Strategy
- 13.2.11. Samvedna Senior Care
- 13.2.11.1. Overview
- 13.2.11.2. Product Portfolio
- 13.2.11.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.11.4. Sales Footprint
- 13.2.11.5. Strategy Overview
- 13.2.11.5.1. Marketing Strategy
- 13.2.11.5.2. Service Strategy
- 13.2.11.5.3. Channel Strategy
- 13.2.12. ApnaCare India Private Limited
- 13.2.12.1. Overview
- 13.2.12.2. Product Portfolio
- 13.2.12.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.12.4. Sales Footprint
- 13.2.12.5. Strategy Overview
- 13.2.12.5.1. Marketing Strategy
- 13.2.12.5.2. Service Strategy
- 13.2.12.5.3. Channel Strategy
- 13.2.13. Nichiigakkan Co. Ltd
- 13.2.13.1. Overview
- 13.2.13.2. Product Portfolio
- 13.2.13.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.13.4. Sales Footprint
- 13.2.13.5. Strategy Overview
- 13.2.13.5.1. Marketing Strategy
- 13.2.13.5.2. Service Strategy
- 13.2.13.5.3. Channel Strategy
- 13.2.14. Golden Years Hospital
- 13.2.14.1. Overview
- 13.2.14.2. Product Portfolio
- 13.2.14.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.14.4. Sales Footprint
- 13.2.14.5. Strategy Overview
- 13.2.14.5.1. Marketing Strategy
- 13.2.14.5.2. Service Strategy
- 13.2.14.5.3. Channel Strategy
- 13.2.15. Orange Valley Healthcare
- 13.2.15.1. Overview
- 13.2.15.2. Product Portfolio
- 13.2.15.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.15.4. Sales Footprint
- 13.2.15.5. Strategy Overview
- 13.2.15.5.1. Marketing Strategy
- 13.2.15.5.2. Service Strategy
- 13.2.15.5.3. Channel Strategy
- 13.2.16. NTUC Health Co-Operative Ltd
- 13.2.16.1. Overview
- 13.2.16.2. Product Portfolio
- 13.2.16.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.16.4. Sales Footprint
- 13.2.16.5. Strategy Overview
- 13.2.16.5.1. Marketing Strategy
- 13.2.16.5.2. Service Strategy
- 13.2.16.5.3. Channel Strategy
- 13.2.17. GoldenCare Group Private Limited
- 13.2.17.1. Overview
- 13.2.17.2. Product Portfolio
- 13.2.17.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.17.4. Sales Footprint
- 13.2.17.5. Strategy Overview
- 13.2.17.5.1. Marketing Strategy
- 13.2.17.5.2. Service Strategy
- 13.2.17.5.3. Channel Strategy
- 13.2.18. Carewell-Service Co., Ltd.
- 13.2.18.1. Overview
- 13.2.18.2. Product Portfolio
- 13.2.18.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.18.4. Sales Footprint
- 13.2.18.5. Strategy Overview
- 13.2.18.5.1. Marketing Strategy
- 13.2.18.5.2. Service Strategy
- 13.2.18.5.3. Channel Strategy
- 13.2.19. RIEI Co. Ltd.
- 13.2.19.1. Overview
- 13.2.19.2. Product Portfolio
- 13.2.19.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.19.4. Sales Footprint
- 13.2.19.5. Strategy Overview
- 13.2.19.5.1. Marketing Strategy
- 13.2.19.5.2. Service Strategy
- 13.2.19.5.3. Channel Strategy
- 13.2.20. SASCO Integrated Eldercare Centre
- 13.2.20.1. Overview
- 13.2.20.2. Product Portfolio
- 13.2.20.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.20.4. Sales Footprint
- 13.2.20.5. Strategy Overview
- 13.2.20.5.1. Marketing Strategy
- 13.2.20.5.2. Service Strategy
- 13.2.20.5.3. Channel Strategy
- 13.2.21. Cascade Healthcare
- 13.2.21.1. Overview
- 13.2.21.2. Product Portfolio
- 13.2.21.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.21.4. Sales Footprint
- 13.2.21.5. Strategy Overview
- 13.2.21.5.1. Marketing Strategy
- 13.2.21.5.2. Service Strategy
- 13.2.21.5.3. Channel Strategy
- 13.2.22. Millennia Personal Care Services
- 13.2.22.1. Overview
- 13.2.22.2. Product Portfolio
- 13.2.22.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.22.4. Sales Footprint
- 13.2.22.5. Strategy Overview
- 13.2.22.5.1. Marketing Strategy
- 13.2.22.5.2. Service Strategy
- 13.2.22.5.3. Channel Strategy
- 13.2.23. Rosewood Care Group Inc.
- 13.2.23.1. Overview
- 13.2.23.2. Product Portfolio
- 13.2.23.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.23.4. Sales Footprint
- 13.2.23.5. Strategy Overview
- 13.2.23.5.1. Marketing Strategy
- 13.2.23.5.2. Service Strategy
- 13.2.23.5.3. Channel Strategy
- 13.2.24. Pacific Healthcare Nursing Home
- 13.2.24.1. Overview
- 13.2.24.2. Product Portfolio
- 13.2.24.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.24.4. Sales Footprint
- 13.2.24.5. Strategy Overview
- 13.2.24.5.1. Marketing Strategy
- 13.2.24.5.2. Service Strategy
- 13.2.24.5.3. Channel Strategy
- 13.2.25. United Medicare Pte Ltd
- 13.2.25.1. Overview
- 13.2.25.2. Product Portfolio
- 13.2.25.3. Profitability by Market Segments (Service/Financial Source /Region)
- 13.2.25.4. Sales Footprint
- 13.2.25.5. Strategy Overview
- 13.2.25.5.1. Marketing Strategy
- 13.2.25.5.2. Service Strategy
- 13.2.25.5.3. Channel Strategy
14. Assumptions and Acronyms Used
15. Research Methodology