Elderly Care Services Market: By Service Type, By Funding Source, By Service Provider, and Geography

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Elderly Care Services Market Size, Share, Growth, Trends, and Global Industry Analysis: By Service Type (Institutional Care, Adult Day Care, and Home Care), By Funding Source (Public Expenditure, Private Expenditure, and Out-of-Pocket Spending), By Service Provider (Public and Private), and Region

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Elderly Care Services Market size was valued at US$ 715.8 billion in 2023 and is poised to grow at a CAGR of 5.4% from 2024-2030.  Elderly care is known as senior care and includes meeting all the needs of older people at different stages. It includes products and services that simplify and facilitate seniors' daily activities. The need for elder care increases with age, as older adults require physical and emotional support to lead productive, healthy, and independent lives. Senior care services include assisted living, adult day care, long-term care, acute care, hospice care, and home care. Senior housing development provides developers the opportunity to design and build age-appropriate housing and amenities, meeting the need for comfortable and accessible living spaces for seniors.

Additionally, as the preference for seniors continues to grow, home healthcare companies have a great opportunity to provide seniors with personalized care, medical attention, and companionship from the comfort of their own homes. The nature of care for older adults varies greatly from country to country and even from region to region and is changing rapidly. Globally, older adults of all age groups spend the most on healthcare. The proportion of older people is also increasing worldwide, particularly in developing countries where there is constant pressure to reduce fertility and family size.

Key Developments

  • In June 2021, TechCrunch, and Webrock Ventures partnered with Helathforce and launched telehealth products in South Africa.
  • In May 2022, Yodda launched eldercare services in Thane, Mumbai, and Navi Mumbai

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Elderly Care Services Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.4%

Largest Market

North America

Fastest Growing Market

Europe

Elderly Care Services Market Dynamics

The growing elderly population coupled with associated age-related diseases, growing demand for residential care facilities among others. Furthermore, increase in the number of applications based on Tele-awareness and adoption of carebots due to the lack of skilled labour would mark as new upcoming trend in this industry. Elder Care primarily focuses on providing senior care services including housekeeping, homemaker service, physical therapy, occupational therapy, nursing services among others. These services can be provided through institutional care, day-care, community care or home care. The popularity of such services is increasing among the working group, owing to lack of time paired with increasing awareness about the benefit associated with the service. Moreover, the life expectancy has increased from 72.4 years in 2014 to 73.5 years in 2019.

Elderly Care Services Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 715.8 billion

Market CAGR

5.4%

By Service Type

  • Institutional Care
  • Adult Daycare
  • Home Care

By Funding Source

  • Public expenditure
  • Private expenditure
  • Out-of-Pocket Spending

By Service Provider

  • Public
  • Private

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Key Features of the Report

  • The elderly Care services market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

The elderly care services market size was valued at US$ 715.8 billion in 2023

ImmunoGen, Inc., Bayer AG, Biogen, Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Amgen, Inc., Pfizer Inc., Sanofi, Novartis AG, Merck, AbbVie

North America is the fastest-growing region for elderly care services market

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Author

Muni Kumar Meravath

Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....

1.Executive Summary
2.Global Elderly Care Services Market Introduction 
2.1.Global Elderly Care Services Market  - Taxonomy
2.2.Global Elderly Care Services Market  - Definitions
2.2.1. By Service Type 
2.2.2. By Funding Source
2.2.3. By Service Provider
2.2.4. By Region
3.Global Elderly Care Services Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Elderly Care Services Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Elderly Care Services Market  By Service Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Institutional Care
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Adult Daycare
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Home Care
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Elderly Care Services Market  By  Funding Source, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Public expenditure
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Private expenditure
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Out-of-Pocket Spending
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
7.Global Elderly Care Services Market  By Service Provider, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Public
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Private
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Elderly Care Services Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Elderly Care Services Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Service Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Institutional Care
9.1.2.Adult Daycare
9.1.3.Home Care
9.2.   Funding Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Public expenditure
9.2.2.Private expenditure
9.2.3.Out-of-Pocket Spending
9.3.  Service Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Public
9.3.2.Private
9.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Elderly Care Services Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Service Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Institutional Care
10.1.2.Adult Daycare
10.1.3.Home Care
10.2.   Funding Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Public expenditure
10.2.2.Private expenditure
10.2.3.Out-of-Pocket Spending
10.3.  Service Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Public
10.3.2.Private
10.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
11.Asia Pacific (APAC) Elderly Care Services Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Service Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Institutional Care
11.1.2.Adult Daycare
11.1.3.Home Care
11.2.   Funding Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Public expenditure
11.2.2.Private expenditure
11.2.3.Out-of-Pocket Spending
11.3.  Service Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Public
11.3.2.Private
11.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Elderly Care Services Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Service Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Institutional Care
12.1.2.Adult Daycare
12.1.3.Home Care
12.2.   Funding Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Public expenditure
12.2.2.Private expenditure
12.2.3.Out-of-Pocket Spending
12.3.  Service Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Public
12.3.2.Private
12.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Elderly Care Services Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Service Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Institutional Care
13.1.2.Adult Daycare
13.1.3.Home Care
13.2.   Funding Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Public expenditure
13.2.2.Private expenditure
13.2.3.Out-of-Pocket Spending
13.3.  Service Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Public
13.3.2.Private
13.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Benesse Holdings Inc.
14.2.2.Kindred Healthcare, Inc.
14.2.3.Nichii Gakkan Co. Ltd
14.2.4.Brookdale Senior Living Inc.
14.2.5.Epoch Elder Care
14.2.6.Amedisys, Inc.
14.2.7.St Luke's Eldercare Ltd.
14.2.8.Bayada home health Care
14.2.9.ApnaCare Private Limited
14.2.10.Econ Healthcare Group
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • Benesse Holdings Inc.
  • Kindred Healthcare, Inc.
  • Nichii Gakkan Co. Ltd
  • Brookdale Senior Living Inc.
  • Epoch Elder Care
  • Amedisys, Inc.
  • St Luke's Eldercare Ltd.
  • Bayada home health Care
  • ApnaCare Private Limited
  • Econ Healthcare Group

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