How Global Services For the Elderly And Persons with Disabilities Market Players Should Strategize For 2022-2031
8 Feb, 2022
The global services for the elderly and persons with disabilities market size is expected to grow from $404.37 billion in 2021 to $463.68 billion in 2022 at a compound annual growth rate (CAGR) of 14.7%. The growth in the services for 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 services for the elderly and persons with disabilities market is expected to reach $768.26 billion in 2026 at a CAGR of 13.5%.
What is the Global 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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What drives the Global Services For the Elderly And Persons with Disabilities Market?
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 decline in household size is attributed to the reduced number of people living as a family. Also, the surge in the aging population is generating higher demand for services for elderly people, thereby propelling the revenues of the market. According to the United Nations Department of Economic and Social Affairs’ report published on World Population Ageing 2019, there were 703 million persons aged 65 years and above in 2019 and this number is likely to double to 1.5 billion people by 2050. In addition to this, the number of people aged 80 years and older is projected to increase from 143 million in 2019 to 426 million by the end of 2050. The need for care of the aging population creates a demand for services for the elderly and disabled, which, in turn, drives the market.
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https://www.thebusinessresearchcompany.com/report/services-for-the-elderly-and-persons-with-disabilities-global-market-reportGlobal Services For the Elderly And Persons with Disabilities Market Segments
The global services for the elderly and persons with disabilities market is segmented:
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 regions covered in the services for the elderly and persons with disabilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Western Europe accounts for the largest share in the global services for the elderly and persons with disabilities market.
Services For the Elderly And Persons with Disabilities Global Market Report 2022provides market size and growth forecasts for the global services for the elderly and persons with disabilities market, global services for the elderly and persons with disabilities market share, services for the elderly and persons with disabilities market segments and geographies, services for the elderly and persons with disabilities market competitive landscape including 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.
Global Services For the Elderly And Persons with Disabilities Industry Playersinclude CK Franchising Inc., Right at Home Inc., Home Instead Inc., Living Assistance Services, Brookdale Senior Living Inc., Senior Care Centers of America, and BAYADA Home Health Care. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.