Services For the Elderly And Persons with Disabilities Global Market To Reach Value Of About $520.9 Billion In 2023

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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%. The decreasing household size coupled with a rapidly aging population is anticipated to aid in the growth of the services for the elderly and persons with disabilities market.

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.

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The global services for the elderly and persons with disabilities market is further segmented based on service type, service provider, end-user and geography.
By Service Type: Institutional care, Adult Day-care, Home Care.
By Service Provider: Public Expenditure, Private Expenditure, Out-of-Pocket Spending.
By End-user: Elderly, Disabled Adults.
By Geography: The global services for the elderly and persons with disabilities market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American services for the elderly and persons with disabilities market is the largest in the global services for the elderly and persons with disabilities market.

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Trends In The Services For the Elderly And Persons with Disabilities Market
Many companies across the globe are using robots to smoothen the transition of providing care facilities to elderly patients. It aims to reduce the workload in healthcare and to improve the quality of treatment in general.
Services For the Elderly And Persons with Disabilities Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides services for the elderly and persons with disabilities market overviews, analyzes and forecasts market size and growth for the global services for the elderly and persons with disabilities market, services for the elderly and persons with disabilities market share, services for the elderly and persons with disabilities market players, services for the elderly and persons with disabilities market segments and geographies, services for the elderly and persons with disabilities market’s leading competitors’ revenues, profiles and market shares. The services for the elderly and persons with disabilities market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.