Individual And Family Services Global Market Sees Growth Rate Of 14% Through 2022
8 Feb, 2022
The global individual and family services market size is expected to grow from $796.61 billion in 2021 to $905.40 billion in 2022 at a compound annual growth rate (CAGR) of 13.7%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The individual and family services market is expected to reach $1450.01 billion in 2026 at a CAGR of 12.5%.
What is the Global Individual And Family Services Market?
The individual and family services market consists of the revenues from individual and family services and related goods by entities that provide non-residential social assistance to children and youth, the elderly, persons with disabilities, and all other individuals and families.
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What drives the Global Individual And Family Services Market?
The rise in abuse and neglect towards children and the elderly is expected to drive the individual and family services market. Children and the elderly are the most vulnerable individuals who are prone to abuse and neglect from their families, friends, institutions, and others. According to the World Health Organization in 2020, one in 6 people at the age of 60 and above have experienced abuse. Moreover, according to the analysis published in the 29th Child Maltreatment Report by the Children’s Bureau at HHS' Administration for Children and Families (ACF), out of 3,534,000 million children, 60.8% of victims were neglected, 10.7% were physically abused, and 7.0% were sexually abused. More than 15% of children are victims of two or more types of maltreatment. The children and elderly abused and neglected mostly suffer from physical injuries, emotional, and psychological problems, such as impaired social-emotional skills or anxiety. Children and the elderly who suffered abuse are at a higher risk of substance abuse due to emotional imbalance and this growing number increases the demand for individual and family services for non-residential social assistance services for improving living standards.
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https://www.thebusinessresearchcompany.com/report/individual-and-family-services-global-market-reportGlobal Individual And Family Services Market Segments
The global individual and family services market is segmented:
By Type: Child and Youth Services, Services for the Elderly and Persons with Disabilities, Other Individual and Family Services
By Mode: Online, Offline
By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-Help
By Geography: The regions covered in the individual and family services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Individual And Family Services Global Market Report 2022provides market size and growth forecasts for the global individual and family services market, global individual and family services market share, individual and family services market segments and geographies, individual and family services market competitive landscape including leading competitors’ revenues, profiles and market shares. The individual and family services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Individual And Family Services Industry Playersinclude CARE International, Children’s Aid and Family Services Inc., Eastwick Family Services, Executive Healthcare Services (EHS), Feeding America, Goldfields Individual and Family Support Association (GIFSA), Kairos Family Services, North East Independent Living Services, StepStone Family & Youth Services, Unicef (United Nations Children’s Fund), and SMART Child & Family Services. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.