The rise in number of elderly people across the globe is creating high demand for in-home care services. The United Nations Department of Economic and Social Affairs stated in a press release of June 2017 that the number of persons aged 60 or above is expected to more than double by 2050 with a total of 2.1 billion people worldwide. Substantial improvements in life expectancy and lower fertility levels has resulted in slow rate of population growth, thus, increasing the elderly populations. These old age people are unable to care for themselves and require assistance in daily activities. They are at high risk of developing chronic diseases which causes temporary limitations or permanent functional disabilities and diminished quality of life. High cost associated with the treatment of these illnesses is encouraging people to adopt home care services. For instance, a report released by Home Care Association of America in 2016 stated that 90% of Americans aged 65 and older are willing to stay at home for as long as possible and avail care services at the comfort of their home. Thus, the rapidly growing geriatric population is propelling the growth of global senior in-home care service market.
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The recent outbreak of COVID-19 has infected more than 39.6 million people across the globe. This high number patients has flooded hospitals and other medical care facilities creating a scarcity of beds available, thus, forcing the elderly people to adopt at home healthcare services.
In terms of revenue, global senior in-home care service market is anticipated to grow at a CAGR of 18.2% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The detailed research study provides qualitative and quantitative analysis of senior in-home care service market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- Based on the application, medical services contributed significant share of global senior in-home care service market in 2019 owing to the high prevalence of chronic illnesses in elderly people.
- The rise in demand for live-in care services is propelling the share of 24 hours resident payment mode in global senior in-home care service market.
- North America held the highest market share in global senior in-home care service market in 2019. Asia Pacific is expected to register the highest compound annual growth rate over the period of next eight years owing to the scarcity of old age homes, rehabilitation centers and other elderly care facilities coupled with launch of health insurance plans which cover at home services.
- Some of the players operating in the senior in-home care service market are Always Best Care Senior Services, Amedisys, Anglicare, BrightStar Care, CK Franchising, Inc., Genesis Home Care, LLC., HOME CARE ASSISTANCE, Home Instead, Inc., Hour Home Care., Living Assistance Services, Inc., Portea Medical, Right At Home, Senior Care Solutions At Home, Sunny Days In-Home Care, Inc. and TriBeCa Care Pvt Ltd. amongst others.
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Global Senior In-Home Care Service Market:
- By Service Type
- Household Maintenance
- Physiotherapy and Nutrition
- Diagnostic Services
- Doctor Visits
- Personal Care
- Day Programs
- Nursing Services
- Medication Management
- Monitoring Vital Signs
- Injection and Dressings
- Bed Sores Management
- Others
- Transportation
- Respite Care
- Others
- By Application
- Medical Services
- Dementia
- Diabetes
- Depression
- Alzheimer's
- Heart Disease
- Visual/Hearing Impairment
- Bedridden And Patients Who Use Wheelchairs
- Others
- Non-Medical Services
- Medical Services
- By Payment Mode
- Hourly
- 6 Hours To 12 Hours
- Night - 12 Hours
- 24 Hours Resident
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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