Global Market Study on Elder Care Services: Institutional Care Service Type Segment to Lead in Terms of Market Share During 2017 - 2025


Elder Care Services Market
  • Published On : Aug-2017 |
  • Pages : 209 Pages |
  • Format :

Report Description & Structure

The market for elder care services has been growing significantly in large global economies, necessitating the need for a comprehensive analysis of the worldwide market. Persistence Market Research has recently published a report on the global elder care services market after conducting in-depth research on the various segments of the market across key assessed regions. Our report titled “Elder Care Services Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025” focuses on the performance of the global elder care services market and throws light on the various factors impacting market performance over an eight year forecast period 2017 – 2025.

In line with the standard format of our research publications, the report on the global elder care services market begins with an executive summary that provides a singular view of the market including an overview and analysis/forecast followed by a market introduction comprising the market taxonomy and key definitions to facilitate easier reader understanding. This is followed by Persistence Market Research’s view point of the global elder care services market – this section focuses on the macro-economic factors and indicators influencing the global elder care services market along with a comparison of the elderly population with GDP per capita for the year 2016. After these initial sections, the report directly jumps into the forecast of the global elder care services market based on the market segmentation across the various assessed regions. These regional sections include – a short introduction of the regional market, key demographic indicators, market dynamics (key regulations, drivers, restraints, trends), market size (US$ Bn) and forecast by service type, financing source, and country, and a market attractiveness analysis for the forecast period 2017 – 2025.

After the regional sections, we quickly present the various market forecast factors and their relevance and impact on the global market. This is followed by a detailed section on the competition landscape of the global elder care services market. In this section, we present a dashboard view of the key players dominating the global elder care services market followed by profiles of some of the top players operating in the market. This section is intended to give the reader a bird’s eye view of the global elder care services market from a competition standpoint. The next few sections present the global elder care services market analysis and forecast by region, service type, and financing source. Here we give the reader detailed statistics on the global market performance including market share and market size analysis, Y-o-Y growth, market attractiveness analysis across the different regions and segments and end this section by providing the overall global market numbers. This section will help our readers understand the size of the global market over the period of assessment and study how we have forecasted the market on the basis of various parameters discussed in the preceding sections. The next section highlights the various assumptions and acronyms used throughout the report for the benefit of the reader. Finally, we present our proven and tested research methodology used to prepare the report on the global elder care services market.

Market Segmentation

  • Service Type
    • Home-based Care
    • Community-based Care
    • Institutional Care
  • Financing Source
    • Public Expenditure
    • Private Source
    • Out-of-Pocket Spending
  • Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

Research Methodology

At Persistence Market Research, we follow a systematic research methodology that helps us capture the different nuances of every market in a structured manner. In our report on the global elder care services market, we have adopted our proven research methodology that comprises market profiling where in-depth secondary research is leveraged to ascertain overall market size, top industry players, top products, industry associations, etc.; formulation of a discussion guide and creation of a list of respondents for primary research; data collection; data validation using the triangulation method; and final data analysis using advanced tools to obtain qualitative and quantitative insights into the global elder care services market.

Growing options for elder care services coupled with rising governmental regulations pertaining to geriatric health and safety will boost the global market

The last few years have witnessed changing demographics and an increasing life-expectancy of the global population, resulting in the rapid growth of a geriatric population requiring medical support. Also, a changing trend in the form of absence of family based caregiving as well as changing consumer preferences pertaining to the type of medical care is also emerging in several countries. These factors will primarily drive revenue growth of the elder care services market across the globe. A few of the factors impacting the global market include enhanced insurance coverage for home healthcare services, a changing social and economic context owing to an increase in the aging population, and finally the changing family structure that can be seen in several countries. Further, a rising demand for residential care facilities for elderly people suffering from chronic illnesses such as dementia and Alzheimer’s is expected to fuel market growth in the near future.

These factors have resulted in the widespread adoption of elder care services, as a result of which the global elder care services market is already a billion dollar market, likely to grow steadily at 8.4% CAGR between 2017 and 2025. Our estimations reveal the market size to go up to a whopping value of over US$ 1,700 Bn by 2025 end up from US$ 863.7 Bn in 2016. The global market for elder care services represents an absolute $ opportunity of US$ 72.1 Bn in 2018 over 2017 and incremental opportunity of US$ 840.2 Bn between 2017 and 2025.

Preference for institutional care likely to increase in the coming years, brought about by smaller family units and non-traditional lifestyles

Of the different service types identified in the global elder care services market, institutional care is likely to be the most lucrative during the forecast period. Institutional care includes hospital based services, long-term care services, and rehabilitation services. Families nowadays are showing increased adoption of institutional care for the geriatric population. Our forecast anticipates the institutional care segment to grow from an estimated market value of more than US$ 600 Bn in 2017 to a market valuation in excess of US$ 1300 Bn by the end of the forecast period in 2025. In terms of market share, the institutional care segment beats the other segments to hold an estimated value share of about 65% in 2017 and 75% in 2025. Revenue from this segment is slated to register a CAGR of 10.2% over the forecast period. The institutional care segment dominated the global elder care services market by service type in the year 2016 and this trend is anticipated to continue throughout the forecast period, as is evident from the market numbers this segment is likely to record in the eight year period from 2017 to 2025.

elder care services market

Regional forecast of the institutional care service type segment

Across the assessed regions, the institutional care segment will continue to exert its stronghold among the service type segments.

North America: The institutional care segment will dominate the North America elder care services market and is projected to be the most lucrative segment by service type over the forecast period, recording a market attractiveness index of 2.6

Latin America: Revenue from the institutional care segment will grow at an impressive CAGR of 9.8%, maintaining its pole position through 2025

Europe: The institutional care segment will remain the most lucrative, with a market attractiveness index of 2.6

Asia Pacific: Revenue from the institutional care segment will record a whopping 13.1% CAGR during the forecast period

Middle East & Africa: The institutional care segment will retain its dominance in the Middle East & Africa elder care services market and is expected to be the most lucrative segment over the forecast period, recording a market attractiveness index of 2.6

Company Profiles 

  • Benesse Style Care Co., Ltd
  • Econ Healthcare Group
  • Epoch Elder Care
  • St Luke's ElderCare Ltd
  • Latin America Home Health Care
  • Samvedna Senior Care
  • ApnaCare Latin America Private Limited
  • Nichiigakkan Co. Ltd
  • Golden Years Hospital
  • Orange Valley Healthcare
  • NTUC Health Co-Operative Ltd
  • GoldenCare Group Private Limited
  • Carewell-Service Co., Ltd
  • RIEI Co.,Ltd
  • SASCO Integrated Eldercare Centre
  • Cascade Healthcare
  • Millennia Personal Care Services
  • Rosewood Care Group Inc.
  • Pacific Healthcare Nursing Home
  • United Medicare Pte Ltd
  • Others.
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