Dallas, Jan. 28, 2022 (GLOBE NEWSWIRE) -- The global elderly care services market is classified into pharmaceuticals and housing and assisted devices on the basis of product type. Among these, the housing and assistive devices segment held the largest share of global elderly care services market owing to factors like large aging population, lack of knowledge to use advanced assistive devices requiring care providers, and other factors. Among regions, North America dominated the global elderly care services market due the presence of top senior care service providers, changing lifestyles, large aging population, and several such factors.
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The key factors such as the increasing aging population, advancements in senior home health care services, independent living trends in countries like US, Germany, and Canada are predicted to maintain good growth in the global elderly care services market. Furthermore, digital transformation for providing medical care to senior, healthcare providers moving to cloud computing to ensure quick digital care support, tech awareness leading to online assistance, growth in telehealth are some key global elderly care services market growth indicators.
Elderly care services are a special type of care services designed to meet the varied need and requirements of elderly people. Assisted living, nursing care, daycare are some top elderly care services. Elderly care services are provided for some hours of the day or night or provided round the clock. Senior people who face family ignorance, grappled with various ailments adopt elderly care services.
However, large-scale ignorance of senior citizens, inadequate public policies, lack of financial funding, lack of collaborative mentality of care providers, and changing family structures are some real challenges facing the global elderly care services market. Nevertheless, growth in telehealth and remote assistance exacerbated by the pandemic, integration of artificial intelligence and machine learning to collect and analyze data, adoption of cloud infrastructure, and several market players coming up with elderly healthcare software are expected to be growth opportunity to the global elderly care services market.
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Interim HealthCare, Revera, CONSUMER DIRECT CARE NETWORK, Sunrise Senior Living, BrightSpring Health Services, Four Seasons Healthcare, Brookdale Senior Living, Orpea, Korian, and Attendo among others. These are the top senior care service providers in the global senior care services market specializing mainly in in-home care, customized services, customized care plans, in-person visits, personal care assistance, house maintenance, and other care related service to the elderly.
These companies for market fortification have done significant investments in providing quality and advanced elderly care services, M&A activities, and employed well-strategized marketing activities.
| Report Coverage | Details |
| Growth rate | CAGR of 7.2% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2020 |
| No. of Pages | 121 |
| Historical data available | Yes |
| Segments covered | Type; Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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