How much is the elderly care market worth, and how is it expected to expand?
The elderly care market size has grown strongly in recent years. It will grow from $1782.6 billion in 2024 to $1931.98 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to the rising prevalence of various elderly diseases, an increase in the number of elderly people, increasing awareness of home care services, an increased need for care, and increasing healthcare awareness.
The elderly care market size is expected to see strong growth in the next few years. It will grow to $2636.08 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising Healthcare and facilities, increasing cases of chronic diseases, growing awareness regarding elderly care, an increase in demand for elderly care products, and a growing demand for elderly care services. Major trends in the forecast period include technological advancements, innovation in integrated care models, advanced technologies in medical devices, the development of personalized care plans, the integration of artificial intelligence, and smart home technologies.
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How has the elderly care market evolved, and what factors have shaped its growth?
The rise in the geriatric population across the globe is expected to propel the growth of the elderly care market going forward. The rise in the geriatric population is driven by increased life expectancy, advancements in healthcare, and lower birth rates, leading to a larger proportion of older adults in the population. Elderly care services use a range of supportive measures, including medical management, personal care, and health monitoring, to effectively manage chronic diseases and enhance the quality of life for older adults. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the rise in the geriatric population across the globe will drive the growth of the elderly care market.
What are the major segments of the elderly care market?
The elderly care market covered in this report is segmented –
1) By Type: Independent Community Living, Assisted Living, Nursing, In-Home Care, Daycare, Hybrid Care, Palliative Care
2) By Term: Short-Term, Long-Term
3) By Application: Heart Diseases, Diabetes, Arthritis, Cancer, Kidney Diseases, Osteoporosis, Neurological, Respiratory, Other Applications
4) By End-User: Hospitals, Elderly Nursing Homes, Homecare, Other End-Users
Subsegments:
1) By Independent Community Living: Senior Independent Living Communities, Active Adult Communities, Senior Co-Housing, Senior Apartments, 55+ Communities, Retirement Communities With Independent Living Facilities
2) By Assisted Living: Residential Assisted Living Facilities, Assisted Living With Memory Care, Assisted Living With Dementia Care, Assisted Living With Specialized Healthcare Support, Luxury Assisted Living Communities 3) By Nursing: Skilled Nursing Facilities (Snfs), Long-Term Care Nursing Homes, Transitional Care Units, Rehabilitation Centers, Nursing Care For Chronic Illnesses Or Disabilities
4) By In-home Care: Personal Care Assistance, Home Health Aide Services, Home Care For Dementia Or Alzheimer’s Patients, Companion Care Services, Hospice And End-Of-Life Care At Home
5) By Daycare: Adult Daycare Centers, Memory Care Day Programs, Social Day Programs, Health And Wellness Day Programs, Specialized Day Programs For Disabled Elderly
6) By Hybrid Care: Combination Of In-home Care And Assisted Living, Telemedicine And Remote Monitoring With In-person Support, Integrative Home Health And Daycare Services, Skilled Nursing With Home Healthcare, Residential Care With Telehealth Integration
7) By Palliative Care: Hospice Care Services, Pain Management Services, End-Of-Life Support Services, Comfort And Support Care For Terminal Illnesses, Home-Based Palliative Care
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Which companies dominate the elderly care market?
Major companies operating in the elderly care market are Stryker Corporation, Boston Scientific Corp., Orpea Groupe S.A, Interim HealthCare Inc., Right at Home LLC, LHC Group Inc., Bayada Home Health Care Inc., Extendicare Inc., Arjo AB, Exceptional Living Centers, Home Instead Inc., RIEI Co. Ltd., Cascade Healthcare LLC, NTUC Health Co-Operative Ltd., Econ Healthcare Group, St Luke’s ElderCare Ltd., Rosewood Care Group Inc., Orange Elderly Care Homes, United Medicare Pte. Ltd., Samvedna Senior Care Pvt. Ltd., Singapore Amalgamated Services Co-operative Organisation Ltd. (SASCO), Vesta Elder Care Pvt. Ltd
How will evolving trends contribute to the growth of the elderly care market?
Major companies operating in the elderly care market are focusing on innovative products such as healthcare-grade mobile computers to enhance the quality of care, streamline workflow, improve communication among healthcare providers, and ensure better monitoring and management of elderly patients’ health conditions in real-time. The healthcare-grade mobile computer refers to rugged, purpose-built devices designed for use in healthcare environments.For instance, in November 2023, Zebra Technologies announced the launch of new healthcare-grade mobile computers, aimed at enhancing patient care and improving operational efficiency in healthcare settings. The new devices are designed to support caregivers in managing patient data, streamline workflows, and facilitate better communication among healthcare teams.These mobile computers integrate advanced technology, such as enhanced data capture capabilities and long-lasting battery life, to ensure that healthcare professionals have reliable access to critical information when they need it most. By enabling real-time data access, the devices aim to enhance patient outcomes and improve overall care quality.
What are the key regional dynamics of the elderly care market, and which region leads in market share?
North America was the largest region in the elderly care market in 2024. The regions covered in the elderly care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Elderly Care Market Report 2025 Offer?
The elderly care market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Elderly care are services designed to support the physical, emotional, and social needs of older adults, including medical management, personal assistance, and companionship to enhance their quality of life. This care can be delivered in various settings, such as at home through home health aides or in specialized facilities such as nursing homes and assisted living communities, aiming to ensure safety, comfort, and well-being.
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