Elder Care Service Trends and Forecast
The future of the global elder care service market looks promising with opportunities in the heart disease, cancer, kidney disease, diabetes, arthritis, osteoporosis, neurological, and respiratory markets. The global elder care service market is expected to reach an estimated $1.5 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are surge in aging population, rising chronic sickness, and growing awareness of home care services.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Elder Care Service by Segment
The study includes a forecast for the global elder care service by product, service, application, and region.
Elder Care Service Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Pharmaceuticals
• Housing & Assistive Devices
Elder Care Service Market by Service [Shipment Analysis by Value from 2018 to 2030]:
• Homecare
• Institutional Care
• Adult Day Care
Elder Care Service Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Heart Diseases
• Cancer
• Kidney Diseases
• Diabetes
• Arthritis
• Osteoporosis
• Neurological
• Respiratory
• Others
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Elder Care Service Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies elder care service companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the elder care service companies profiled in this report include-
• Endo Pharmaceuticals
• Merck
• AstraZeneca
• Pfizer
• Allergan
• Bristol-Myers Squibb
• Regeneron Pharmaceuticals
• F. Hoffmann-La Roche
• Octapharma
• Epoch Elder Care
Elder Care Service Market Insights
Lucintel forecasts that housing & assistive device will remain the larger segment over the forecast period due to the growing elderly population and the necessity for assistive technology in elderly patientsÄX%$%X at-home care.
Within this market, heart disease will remain the largest segment due to the growing incidence of cardiovascular diseases, high blood pressure, and hypertension in the elderly.
North America will remain the largest region over the forecast period due to the enormous number of senior healthcare facilities and assisted living facilities in the area.
Features of the Global Elder Care Service Market
Market Size Estimates: Elder care service market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Elder care service market size by product, service, application, and region in terms of value ($B).
Regional Analysis: Elder care service market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, services, applications, and regions for the elder care service market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the elder care service market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the elder care service market size?
Answer: The global elder care service market is expected to reach an estimated $1.5 billion by 2030.
Q2. What is the growth forecast for elder care service market?
Answer: The global elder care service market is expected to grow with a CAGR of 5.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the elder care service market?
Answer: The major drivers for this market are surge in aging population, rising chronic sickness, and growing awareness of home care services.
Q4. What are the major segments for elder care service market?
Answer: The future of the elder care service market looks promising with opportunities in the heart disease, cancer, kidney disease, diabetes, arthritis, osteoporosis, neurological, and respiratory markets.
Q5. Who are the key elder care service market companies?
Answer: Some of the key elder care service companies are as follows:
• Endo Pharmaceuticals
• Merck
• AstraZeneca
• Pfizer
• Allergan
• Bristol-Myers Squibb
• Regeneron Pharmaceuticals
• F. Hoffmann-La Roche
• Octapharma
• Epoch Elder Care
Q6. Which elder care service market segment will be the largest in future?
Answer: Lucintel forecasts that housing & assistive device will remain the larger segment over the forecast period due to the growing elderly population and the necessity for assistive technology in elderly patientsÄX%$%X at-home care.
Q7. In elder care service market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to the enormous number of senior healthcare facilities and assisted living facilities in the area.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the elder care service market by product (pharmaceuticals and housing & assistive devices), service (homecare, institutional care, and adult day care), application (heart diseases, cancer, kidney diseases, diabetes, arthritis, osteoporosis, neurological, respiratory, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Elder Care Service Market, Elder Care Service Market Size, Elder Care Service Market Growth, Elder Care Service Market Analysis, Elder Care Service Market Report, Elder Care Service Market Share, Elder Care Service Market Trends, Elder Care Service Market Forecast, Elder Care Service Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.