Elderly Services and Persons with Disabilities Global Market Report 2023 Featuring CK Franchising, Right at Home, Home Instead, Living Assistance Services, & Brookdale Senior Living

DUBLIN, March 28, 2023 /PRNewswire/ — The “Services For the Elderly And Persons with Disabilities Global Market Report 2023” report has been added to  ResearchAndMarkets.com’s offering.

The global services for the elderly and persons with disabilities market will grow from $445.58 billion in 2022 to $476.91 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%.The services for the elderly and persons with disabilities market is expected to grow to $605.54 billion in 2027 at a CAGR of 6.2%.

Western Europe was the largest region in the services for the elderly and persons with disabilities market in 2022. Asia Pacific was the second-largest region in the services for the elderly and persons with disabilities market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of services for the elderly and persons with disabilities are institutional care; adult day-care; home care. Adult daycare is a structured activity program in a professional care setting for older adults who need supervised care during the day or who are isolated and lonely. The various service providers include public expenditure; private expenditure; out-of-pocket spending that is used by elderly and disabled adults.

The decreasing household size coupled with a rapidly aging population is anticipated to aid in the growth of the services for the elderly and persons with disabilities market. The decline in household size is attributed to the reduced number of people living as a family. For instance, according to the English Housing Survey, the average household size in the UK was 2.2 persons in 2020-2021, down from 2.4 persons in 2019- 2020.

Also, the surge in the aging population is generating higher demand for services for elderly people, thereby propelling the revenues of the market. According to the United Nations Department of Economic and Social Affairs report published on World Population Ageing, there were 727 million persons aged 65 years and above in 2020, up from 703 million in 2019 and this number is likely to double to 1.5 billion people by 2050.

In addition to this, the number of people aged 80 years and older is projected to increase from 143 million in 2019 to 426 million by the end of 2050. The need for care for the aging population creates a demand for services for the elderly and disabled, which, in turn, drives the market.

Elder abuse in centers that provide services for the elderly and persons with disabilities are expected to hamper the market. Elder abuse is increasing in the institutions that provide care to the elderly. According to the report released by the World Health Organization in June 2020, about 2 in 3 staff working in institutions such as nursing homes and long-term care facilities have reported that they have committed abuse in the previous year.

Elder abuse can lead to serious physical injuries and long-term psychological consequences. The high abuse rate among elders in the care settings, therefore, creates a state of fear for the elders and their loved ones opting for these services, which leads to a decision of not opting for these services, thereby, hindering the market.

Many companies across the globe are using robots to smoothen the transition of providing care facilities to elderly patients. For instance, Bright Cape, an Eindhoven-based company, has developed SARA, which stands for social and autonomous robotic health assistants.

The project is part of the European EIT Digital Innovation Consortium and aims to reduce the workload in healthcare and improve the quality of treatment in general. Japan is installing robots in nursing homes, workplaces, and schools as its population ages and the labor force decline.

The countries covered in services for the elderly and persons with disabilities market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Major players in the services for the elderly and persons with disabilities market are 

• CK Franchising Inc.
• Right at Home Inc.
• Home Instead Inc.
• Living Assistance Services
• Brookdale Senior Living Inc.
• Senior Care Centers of America
• BAYADA Home Health Care

Key Topics Covered:

1. Executive Summary

2. Services For the Elderly And Persons with Disabilities Market Characteristics

3. Services For the Elderly And Persons with Disabilities Market Trends And Strategies

4. Services For the Elderly And Persons with Disabilities Market – Macro Economic Scenario
4.1 COVID-19 Impact On Services For the Elderly And Persons with Disabilities Market
4.2 Ukraine-Russia War Impact On Services For the Elderly And Persons with Disabilities Market
4.3 Impact Of High Inflation On Services For the Elderly And Persons with Disabilities Market

5. Services For the Elderly And Persons with Disabilities Market Size And Growth
5.1. Global Services For the Elderly And Persons with Disabilities Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Services For the Elderly And Persons with Disabilities Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Services For the Elderly And Persons with Disabilities Market Segmentation
6.1. Global Services For the Elderly And Persons with Disabilities Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Institutional care
• Adult Day-care
• Home Care

6.2. Global Services For the Elderly And Persons with Disabilities Market, Segmentation By Service Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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

6.3. Global Services For the Elderly And Persons with Disabilities Market, Segmentation By End-user, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Elderly
• Disabled adults

7. Services For the Elderly And Persons with Disabilities Market Regional And Country Analysis
7.1. Global Services For the Elderly And Persons with Disabilities Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Services For the Elderly And Persons with Disabilities Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/gnepni

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets