The services for the elderly and persons with disabilities market consists of the revenues from elder and disabled people services by entities that provide social assistance services to improve the quality of life for the elderly, persons diagnosed with intellectual and developmental disabilities, or persons with physical disabilities.
The global services for the elderly and persons with disabilities market is expected to grow from $369.4 billion in 2019 to $390 billion in 2020 at a compound annual growth rate (CAGR) of 5.6%. The growth has slowed down mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $520.9 billion in 2023 at a CAGR of 10.12%.
