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Report Highlights
The global market for elder care services and assistive devices is expected to grow from $868.2 billion in 2024 and is projected to reach $1.1 trillion by the end of 2029, at a compound annual growth rate (CAGR) of 5.8% during the forecast period of 2024 to 2029.
Report Includes
- 26 data tables and 26 additional tables
- An analysis of the global markets for elder care services and assistive medical devices
- Analyses of the global market trends, with market revenue data for 2022, estimates for 2023, forecasts for 2024, and projected CAGRs through 2029
- Estimate of the current market size and revenue growth prospects, along with a market share analysis by device type, service type, end user, and region
- Facts and figures pertaining to the market drivers, opportunities and challenges, emerging technologies, regulations and the impact of various macroeconomic factors
- Overview of sustainability trends and ESG developments in the industry, with a focus on consumer attitudes, companies’ ESG score rankings and their ESG practices
- An analysis of recent patents
- A look at the competitive landscape, including companies’ market shares, M&A activity and venture funding
- Profiles of the leading companies, including Brookdale Senior Living Inc., Sunrise Medical, Invacare Corp., Lifeline (a Philips company), and Atria Senior Living Inc.
Report Scope
This report explains critical trends in the elder care services and assistive devices market. The market analysis covers factors that serve as either motivating or inhibiting forces, offering valuable insights to stakeholders and potential new entrants. This study looks at research and development (R&D) spending, increasing competition and new technologies that are giving direction to the market. These advancements, new product launches and government programs will influence future market growth. The report also addresses company mergers, acquisition strategies and collaborations. Furthermore, it examines the strengths and weaknesses associated with each strategy type, considering emerging technologies, increased competition and evolving customer preferences. The market analysis focuses on elder care services and assistive devices.
Report Synopsis
| Report Metrics | Details | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||
| Forecast period considered | 2024-2029 | ||||||||||
| Base year market size | $833.3 billion | ||||||||||
| Market size forecast | $1.1 trillion | ||||||||||
| Growth rate | CAGR of 5.8% for the forecast period of 2024-2029 | ||||||||||
| Units considered | $ Billions | ||||||||||
| Segments covered | Service, Type of Device, and Region | ||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) | ||||||||||
| Countries covered | China, India, Japan, South Korea, Australia, Singapore U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Latin America, and Africa | ||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Consulting Editor’s Credentials
Dr. Marianna Tcherpakov has more than 10 years of experience as a bench scientist specializing in the areas of biochemistry, cell biology, assay development, antibody and drug manufacturing. She has authored several scientific publications in peer review journals. In the last 10 years, Marianna worked as a business development professional in CRO/CDMO industry. She is familiar with pharmaceutical and biotech landscape, trends and potential future developments in industry.
Report Highlights
The global market for elder care assistive devices should grow from $705.8 billion in 2020 to $914.9 billion by 2025, at compound annual growth rate (CAGR) of 5.3% for the period of 2020-2025.
Report Includes
- 12 data tables and 20 additional tables
- An overview of the global markets for elder care services and assistive devices
- Estimation of the market size and analyses of global market trends with data from 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Highlights of quantitative and qualitative data of the eldercare products and services market by home healthcare, adult day services and institutional care, and medical/personal monitoring aids, daily living aids, mobility aids and access aids, and by region
- Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market trends, market size, market forecast, and technological advancements within the industry
- Impact analysis of COVID-19 on eldercare products and services market
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Company profiles of major players of the industry, including Atria Senior Living, Enlivant, Life Care Centers of America, Invacare Corp., and Sunrise Medical
Report Highlights
The U.S. eldercare market reached $381.6 billion in 2014 and nearly $417 billion in 2015. The market should reach $512.7 billion in 2020, demonstrating a compound annual growth rate (CAGR) of 4.2% from 2015 to 2020.
Report Includes
- An overview of the global markets for eldercare products and services.
- Analyses of market trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020.
- Segmentations of the market into healthcare products and services, housing services and needs, and assistive technologies.
- Breakdowns of the U.S. and worldwide markets by demographics.
- A focus on applications including:
- Heart disease/stroke.
- Cancer treatments.
- Kidney disease medications.
- Diabetes medications.
- Arthritis prescription medications.
- Osteoporosis medications.
- Pain medications.
- Neurological health medications (e.g., dementia, depression).
- Respiratory medications and products.
- Information covering the industry's structure.
- Profiles of major players in the industry.
Report Highlights
The U.S. eldercare market reached $286.7 billion in 2012. This market is expected to grow from $319.8 billion in 2013 to $436.6 billion by 2018, with a compound annual growth rate (CAGR) of 6.4% for the five-year period, 2013 to 2018.
Report Includes
- An in-depth analysis and forecast of the eldercare market.
- Analyses of market trends, with data from 2012, estimates for 2013, and projections of CAGRs for the period 2013 and 2018.
- Identification of the U.S. and worldwide markets by demographics.
- Discussion on international markets, as well as information on the industry's structure.
- A breakdown of the overall market into segments that include healthcare products and services, housing services and needs, and assistive technologies.
Report Highlights
- The U.S. eldercare market was worth $279.2 billion in 2008 and an estimated $316.9 billion in 2009. This should reach $447.4 billion in 2014, for a compound annual growth rate (CAGR) of 7.1%.
- The healthcare segment has the largest share of the market, worth $146.4 billion in 2008 and an estimated $172.2 billion in 2009. This should increase at a CAGR of 9.1% to reach $266.8 billion in 2014.
- The housing segment has the second-largest market share, generating $127.4 billion in 2008. This segment is expected to reach $138.7 billion in 2009 and $171.5 billion in 2014, for a CAGR of 4.3%.
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