Scope of the Report
The report titled “Global Elderly Care Services Market: Trends and Opportunities (2016 - 2020)” provides a detailed analysis of the elder care services market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.
The market size and forecast in terms of value for the market has been provided for the period 2016 to 2020, considering 2014 as the base year and the estimated value for 2015 has also been provided in the report. The report also provides the compound annual growth rate (CAGR) for the forecast period 2016 to 2020. In the forecasted period global elder care services market is expected to achieve a double-digit growth.
The report provides major market trends, growth drivers and challenges of the global elder care services market. The major market trends of elder care services market are rise of technology-enhanced senior care, booming healthcare industry, federal health care reforms and regulations regarding Medicare and Medicaid reimbursement etc. Rising number of ageing population, increased life expectancy, chronic illness among aged population and increase in health expenditure by senior citizens are the major growth drivers of the market. But the market also has to face lot of challenges in the coming years that will create interruption in the growth of the market. Some of the challenges are lack of qualified employees, less supply more demand and cost affordability etc.
The report also provides country analysis of the US, Canada, Europe and India in terms of market sizing and growth. The US and Canada (in North America) are the market leaders followed by European countries. Among Asia-Pacific countries, India has been emerged as the market leader in elder care services. In coming years, Asia-Pacific will be the key market player as the growth of ageing population is more than other nations worldwide.
Furthermore, the report also profiles key market players such as Extendicare Inc., Brookdale senior Living Inc., Kindred Healthcare Inc. and Genesis Healthcare Inc. on the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.
Senior citizens need assistance with daily activities as well as healthcare requirements who needs a quality life. Due to all these requirements there emerged a market known as ‘elder care services market’ which is specifically came into existence to serve the ageing population worldwide. Elder care services market has divided into various segments. Elderly care business includes in home care, assisted living, nursing home facilities by skilled professionals, hospital care and pharmaceuticals. Among these, in-home care, assisted living and home healthcare segment are getting popular day by day and provide quality life to senior citizens. Adult day care centres are designed for older adults who are no longer managing independently or who are isolated or lonely. Home care services are provided by family members and close relatives.
Global elder care market has shown positive trends over the past few years. The primary reasons behind the growth of the market are increased ageing population worldwide, increasing demand for quality life by senior citizens, positive government regulation in healthcare segment to provide cost-effective medical treatment to the aged population, technological advancement, and chronic illness among old age population etc. the market is expected to achieve a moderate growth in the forecasted period. Global elder care services market continued to expand at a swift pace in 2015.