MELBOURNE, Australia, Aug. 10, 2022 /PRNewswire/ -- Data Bridge Market Research announces the release of the report on "Global Elderly Care Market". This report contains thorough description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with porter's five force analysis. Elderly Care is the most promising market research report which has been framed in the way you foresee. As today's businesses insist the market research analysis before taking any verdict about the products, opting such market research report is essential for the businesses. This Elderly Care market research report deals with an array of important market related aspects which can be listed as follows; market size estimations, company and market best practices, entry level strategies, market dynamics, positioning, segmentations, competitive landscaping and benchmarking, opportunity analysis, economic forecasting, industry-specific technology solutions, roadmap analysis, and in-depth benchmarking of vendor offerings.
The global elderly care market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.0% in the forecast period of 2022 to 2029 and is expected to reach USD 2,357,746.52 million by 2029.
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Market Insights:-
Elderly care is referred to as senior care, which includes meeting all the requirements of senior citizens at different stages. It includes products and services that make the daily activities of aged people simple and easy. The need for elderly care increases with the growing age as aged people require physical as well as emotional assistance to lead a productive, healthy, and independent life. Eldercare services include assisted living, adult day care, long-term care, short-term care, hospice, and home care.
In developed nations, elderly care services are in high demand, and with growing medical science technology, the developing nations are also opting for these services. Elderly care services are divided into medical and non-medical services. After surgeries or any injuries, the services offered to the elders are mainly medical, while emotional problems or neurodegenerative disease includes both medical and non-medical services.
New Opportunities
- Increasing Market Trend towards Elderly Care Services
The increasing elderly population is expected to act as a driving force for elderly care services. Change in the economy and social environment has increased the demand for care business. A growing number of the elderly population puts pressure on the young generation to take care of elderly family members along with work. This as a result, creates the need for elderly care services. It is divided into short-term services and long-term services. Short-term services help in performing the daily basic activities, while long-term services focus on the residential facilities. Long-term service requires medical assistance and daycare.
Some of the major players operating in the Elderly Care Market are:
- Right at Home, LLC
- Koninklijke Philips N.V.
- BAYADA Home Health Care
- Econ Healthcare Group
- Home Instead, Inc.
- ORPEA GROUPE
- St Luke's Eldercare Ltd.
- Rosewood Care Group
- Medtronic
- Interim HealthCare Inc
- United Medicare Pte Ltd.
- Trinity Health
- Exceptional Living Centers
- Amedisys
- Living Assistance Services, Inc.
- ElderCareCanada
- LHC Group, Inc.
- Encompass Health Corporation
- Extendicar
- Prolifico
- FC Compassus LLC
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Recent Development
In June 2021, according to TechCrunch, Webrock Ventures and Helathforce partnered to launch telehealth products in South Africa. The new venture has not been given a name yet, and the main focus is to offer on-demand and scheduled consultations to patients with nurses, mental health professionals, and practitioners. The venture has closed a USD 3 million pre-Series A round
In April 2021, according to TechCrunch, Quro Medical, a health tech startup in South Africa that offers home services to manage ill patients in their homes to provide them the utmost comfort as well as to reduce the risk of infection, had closed a USD 1.1 million round investment. The round was led by Enza Capital and Mohau Equity Partners. The company aims to provide acute patient care at home to improve the patient experience
What to Expect from the Report, a 7-Pointer Guide
- The Elderly Care report dives into the holistic Strategy and Innovation for this market ecosystem
- The Elderly Care report keenly isolates and upholds notable prominent market drivers and barriers
- The Elderly Care report sets clarity in identifying technological standardization as well as the regulatory
- framework, besides significantly assessing various implementation models besides evaluation of numerous use cases
- The Elderly Care report is also a rich repository of crucial information across the industry, highlighting details on novel investments as well as stakeholders and relevant contributors and market participants.
- A through market analytical survey and forecast references through the forecast tenure, encapsulating details on historical developments, concurrent events as well as future growth probability
Elderly Care Market Dynamics
Drivers
- Growing Awareness Regarding Elderly Care
The rising awareness regarding home care services, adult care services, and others among people globally will increase the demand for the market. With the rapid upsurge in the aged population, the need for elderly care is increasing, and the growing demand for elderly care services and products will fuel the market's growth.
- Increasing Cases of Chronic Disease
The rising number of chronic diseases such as diabetes, cardiovascular diseases, obesity, cancer, osteoporosis, and dental diseases has increased. These diseases can be prevented with proper treatment, diet, and nutrition, along with proper suggestions from doctors. But in recent times, the treatment can also be taken by sitting at home with the help of home healthcare services in which one does not need to visit hospitals.
Restraints/Challenges
- Lack of Trained and Experienced Workers
The shortage of trained professionals, especially in developing countries, may hamper the growth of the market.
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Key Industry Segmentation:
Product Type
- Pharmaceuticals
- Housing and assistive devices
Service
- Institutional Care
- Homecare
- Adult Day Care
Application
- Heart Diseases
- Cancer
- Kidney Diseases
- Diabetes
- Arthritis
- Osteoporosis
- Neurological
- Respiratory
- Others
Regional Insights:-
The countries covered in the global elderly care market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, rest of South America, South Africa and rest of the Middle East and Africa.
North America is expected to dominate the global elderly care market during the forecast period owing to the rapid increase in the aged population that ultimately increases the demand for elderly care products and services.
The investment made in the study would provide you access to information such as:
- Elderly Care Market [Global - Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, and Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends - Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter's Five Forces, etc.
- Market Size)
- Market Size by application/industry verticals
- Market Projections/Forecast
Table of Contents:
- Elderly Care Market Overview
- Economic Impact on Industry
- Competition by Manufacturers
- Production, Revenue (Value) by Region
- Supply (Production), Consumption, Export, Import by Regions
- Production, Revenue (Value), Price Trend by Type
- Market by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Market Forecast
- Appendix
Download Complete Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-elderly-care-market&PNW/10Aug2022
Browse More Reports By DBMR:
- Brazil Elderly Care Market, By Product Type (Pharmaceuticals, Housing, Assistive Devices), Service (Homecare, Institutional Care, Adult Day Care), Application (Heart Diseases, Respiratory, Diabetes, Osteoporosis, Cancer, Neurological, Kidney Diseases, Arthritis, Others) Industry Trends and Forecast to 2029. https://www.databridgemarketresearch.com/reports/brazil-elderly-care-market
- North America Elderly Care Market, By Product Type (Pharmaceuticals and Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Neurological, Osteoporosis, Respiratory, Others) - Industry Trends and Forecast to 2029. https://www.databridgemarketresearch.com/reports/north-america-elderly-care-market
- Europe Elderly Care Market, By Product Type (Pharmaceuticals, and Housing and Assistive Devices), Service (Institutional Care, Homecare, and Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, and Others) - Industry Trends and Forecast to 2029. https://www.databridgemarketresearch.com/reports/europe-elderly-care-market
- Asia-Pacific Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others)- Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/asia-pacific-elderly-care-market
- Middle East and Africa Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others) - Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/middle-east-and-africa-elderly-care-market
- Malaysia Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others) - Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/malaysia-elderly-care-market
- Nepal Elderly Care Market, By Product Type (Pharmaceuticals and Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Neurological, Osteoporosis, Respiratory, Others) Industry Trends and Forecast to 2027 https://www.databridgemarketresearch.com/reports/nepal-elderly-care-market
- Sri Lanka Elderly Care Market, By Product Type (Pharmaceuticals, Housing and Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others) - Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/srilanka-elderly-care-market
- North America Elderly Monitors Market, By Product (Safety Monitoring Devices, Pads, Communication Aids, Activity Monitors, Location Monitors, Caregiver Call Systems, and Others), Modality (Portable and Fixed), Monitoring Type (Weight Monitoring, Telemedicine, Temperature Monitoring, Patient Engagement, Digital Diabetes Management, and Others), Acuity Scale (High Acuity Scale, Medium Acuity Scale, and Low Acuity Scale), End User (Hospitals, Nursing Homes, Home Care Organizations, Homecare Setting, Elderly Care Facilities, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others) https://www.databridgemarketresearch.com/reports/north-america-elderly-monitors-market
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