Market Overview:
The global aged care services market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The market growth is attributed to the increasing geriatric population, rising demand for home-based and community-based care, and growing awareness about the benefits of aged care services. The global aged care services market is segmented by type into home-based care, community-based care, and institutional care. Home-basedcare accounted for the largest share of the global market in 2017 owing to its affordability and convenience compared with other types ofcare. Community-basedcare is expected to grow at a higher CAGR during the forecast period due to its advantages such as social interaction and access toprofessional healthcare facilities. Institutional Careis further segmented into nursing homesand assisted living facilities (ALFs). Nursing homes are projectedto register a higher CAGR duringthe forecast period due tobenefits such as roundthe clock medical assistanceand accommodation options.
Product Definition:
Aged care services are the range of professional and support services that help older people to live as independently as possible in their own homes or in residential aged care facilities.
- Aged care services play a vital role in ensuring that our ageing population can live with dignity and independence.
- They provide essential support for seniors who may be struggling to manage day-to-day tasks, and they also offer social activities and opportunities for connection with other members of the community.
Home-based Care:
Home-based care is a type of medical treatment provided to patients who are unable to receive their medical needs at home. It includes nursing, personal care assistance, and other services like dressing and bathing. The global market for home-based healthcare is expected to witness significant growth over the forecast period owing to factors such as an increase in the geriatric population coupled with rising awareness regarding cost control measures in healthcare expenditure.
Community-based Care:
The global community-based care and it's usage in aged care services market size was valued at USD 5.3 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Application Insights:
The market is segmented by application into Medicaid, Medicare, private insurance and out-of-pocket. The out of pocket payment method was the largest revenue contributor to the global aged care services market in 2017. This can be attributed to high costs of long term care and increasing awareness about old age among consumers across the globe. In addition, a rising number of assisted living facilities and retirement homes has also contributed positively to industry growth over the past few years.
The institutionalized segment is anticipated to witness significant growth over the forecast period owing to an increase in demand for residential aged care services from both public as well as private insurers globally.
Regional Analysis:
North America dominated the global market in 2017. The presence of a large geriatric population base and increasing demand for in-home care are some of the major factors contributing to its growth. In addition, supportive government initiatives such as Medicare Part A and Medicaid that covers around 80% of the cost for long term care is further fueling revenue generation opportunities across this region.
Asia Pacific is expected to witness lucrative growth over the forecast period owing to an increase in awareness about these services among consumers, coupled with growing disposable income levels within countries such as China and India. Furthermore, improving healthcare infrastructure due to increased government spending on health programs will also drive regional market expansion over the next eight years.
Growth Factors:
- Increasing life expectancy and the growth of the elderly population: The global population of people aged 60 years and above is expected to more than double from 900 million in 2015 to 2 billion by 2050. This will create a larger demand for aged care services.
- Rising income levels and longer working lives: As incomes rise, there is an increased demand for quality aged care services that can provide comfort, safety, and dignity for seniors. In addition, as people are living longer, they are spending more years in retirement, which also drives demand for aged care services.
- Urbanization and aging infrastructure: An increasing number of seniors are moving into cities where there is a lack of adequate infrastructure to support them. This creates opportunities for providers of aged care services who can offer innovative solutions that meet the needs of this growing market segment.
Scope Of The Report
Report Attributes
Report Details
Report Title
Aged Care Services Market Research Report
By Type
Home-based Care, Community-based Care, Institutional Care
By Application
Medicaid, Medicare, Out-of-Pocket, Private Insurance
By Companies
Benesse Style Care, Econ Healthcare Group, Epoch Elder Care, St Luke's ElderCare, Samvedna Senior Care, ApnaCare, Nichiigakkan, Golden Years Hospital, Orange Valley, NTUC Health, Goldencare Group, RIEI Co.,Ltd, SASCO Integrated Eldercare Centre, Cascade Healthcare, Millennia Personal Care Services, Rosewood Care Group, Pacific Healthcare Nursing Home, United Medicare
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Aged Care Services Market Report Segments:
The global Aged Care Services market is segmented on the basis of:
Types
Home-based Care, Community-based Care, Institutional Care
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medicaid, Medicare, Out-of-Pocket, Private Insurance
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Benesse Style Care
- Econ Healthcare Group
- Epoch Elder Care
- St Luke's ElderCare
- Samvedna Senior Care
- ApnaCare
- Nichiigakkan
- Golden Years Hospital
- Orange Valley
- NTUC Health
- Goldencare Group
- RIEI Co.,Ltd
- SASCO Integrated Eldercare Centre
- Cascade Healthcare
- Millennia Personal Care Services
- Rosewood Care Group
- Pacific Healthcare Nursing Home
- United Medicare
Highlights of The Aged Care Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Home-based Care
- Community-based Care
- Institutional Care
- By Application:
- Medicaid
- Medicare
- Out-of-Pocket
- Private Insurance
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aged Care Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aged care services are a type of long-term care that provide assistance with activities of daily living, such as bathing and dressing. Aged care services may also include help with meals, medication management, and other needs.
Some of the key players operating in the aged care services market are Benesse Style Care, Econ Healthcare Group, Epoch Elder Care, St Luke's ElderCare, Samvedna Senior Care, ApnaCare, Nichiigakkan, Golden Years Hospital, Orange Valley, NTUC Health, Goldencare Group, RIEI Co.,Ltd, SASCO Integrated Eldercare Centre, Cascade Healthcare, Millennia Personal Care Services, Rosewood Care Group, Pacific Healthcare Nursing Home, United Medicare.
The aged care services market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aged Care Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Aged Care Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Aged Care Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Aged Care Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Aged Care Services Market Size & Forecast, 2020-2028
4.5.1 Aged Care Services Market Size and Y-o-Y Growth
4.5.2 Aged Care Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Home-based Care
5.2.2 Community-based Care
5.2.3 Institutional Care
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Medicaid
6.2.2 Medicare
6.2.3 Out-of-Pocket
6.2.4 Private Insurance
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aged Care Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aged Care Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Home-based Care
9.6.2 Community-based Care
9.6.3 Institutional Care
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Medicaid
9.10.2 Medicare
9.10.3 Out-of-Pocket
9.10.4 Private Insurance
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Home-based Care
10.6.2 Community-based Care
10.6.3 Institutional Care
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Medicaid
10.10.2 Medicare
10.10.3 Out-of-Pocket
10.10.4 Private Insurance
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Home-based Care
11.6.2 Community-based Care
11.6.3 Institutional Care
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Medicaid
11.10.2 Medicare
11.10.3 Out-of-Pocket
11.10.4 Private Insurance
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Home-based Care
12.6.2 Community-based Care
12.6.3 Institutional Care
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Medicaid
12.10.2 Medicare
12.10.3 Out-of-Pocket
12.10.4 Private Insurance
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Home-based Care
13.6.2 Community-based Care
13.6.3 Institutional Care
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Medicaid
13.10.2 Medicare
13.10.3 Out-of-Pocket
13.10.4 Private Insurance
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aged Care Services Market: Competitive Dashboard
14.2 Global Aged Care Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Benesse Style Care
14.3.2 Econ Healthcare Group
14.3.3 Epoch Elder Care
14.3.4 St Luke's ElderCare
14.3.5 Samvedna Senior Care
14.3.6 ApnaCare
14.3.7 Nichiigakkan
14.3.8 Golden Years Hospital
14.3.9 Orange Valley
14.3.10 NTUC Health
14.3.11 Goldencare Group
14.3.12 RIEI Co.,Ltd
14.3.13 SASCO Integrated Eldercare Centre
14.3.14 Cascade Healthcare
14.3.15 Millennia Personal Care Services
14.3.16 Rosewood Care Group
14.3.17 Pacific Healthcare Nursing Home
14.3.18 United Medicare
