South Africa Elderly Residential Facilities Market Report 2021: High Demand, Funding Issues, State of the Industry, Competition, Outlook

News provided by

Dec 13, 2021, 05:45 ET

DUBLIN, Dec. 13, 2021 /PRNewswire/ -- The "Residential Facilities for The Elderly in South Africa 2021" report has been added to ResearchAndMarkets.com's offering.

This report focuses on residential facilities/old age homes for old people in South Africa and includes information on the funding of facilities with a focus on those that are subsidised by government.

There are profiles of 27 companies, NGOs and associations including Rand Aid, Algoa Bay Council for the Aged, Flower Foundation Retirement Homes, Botshabelo Haven, Free State Care in Action and Life Esidimeni.

Residential Facilities for the Elderly

South Africa's elderly population aged 60 and over continues to increase as a percentage of the population and currently sits at 5.4 million people. There is much demand for accommodation and care for the elderly, and not enough supply, especially for affordable care, and old people continue to lack access to adequate healthcare, social support, and other basic services.

Government's social grant payments for old people and subsidies provided to residential care facilities are insufficient to cover increasing costs, forcing many facilities to close.

Funding Issues

Hundreds of organisations providing social care services across South Africa are struggling financially and have had subsidies cut. Various associations and non-profit organisations' funds are insufficient to cover the costs of providing services to elderly citizens and they came under increased pressure as fund-raising activities did not take place due to the pandemic.

This has resulted in growing deficits and closures. Only a small percentage of South Africans are financially able to retire comfortably. The development of private retirement accommodation and care is a growing sector.

High Demand

Demand for care among the elderly is expected to escalate, but South Africa is ill prepared and there is a shortage of affordable residential facilities. The shortage of trained and experienced nurses, and care workers places further challenges on the sector and various associations and old aged homes have called on government to review its funding model.

Key Topics Covered:

1. Introduction

2. Description of the Industry
2.1. Industry Value Chain
2.2. Geographic Position

3. Size of the Industry

4. State of the Industry
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations
4.1.3. Enterprise Development and Social Economic Development
4.2. Continental
4.3. International

5. Influencing Factors
5.1. Coronavirus
5.2. Economic Environment
5.3. Rising Costs
5.4. Labour

6. Competition
6.1. Barriers to Entry

7. SWOT Analysis

8. Outlook

9. Industry Associations

10. References
10.1. Publications
10.2. Websites

Summary of Notable Players

Residential Facilities for Older Persons Contact Details
Organogram
Residential Facilities for the Elderly
Company Profiles
Afrikaanse Christelike Vroue Vereeniging
Algoa Bay Council for the Aged
Association for the Aged (The)
Badisa
Boiketlong Old Age Home
Botshabelo Haven
Cape Peninsula Organisation for the Aged
Executive Welfare Council of the Afm of Sa (The)
Flower Foundation Retirement Homes
Free State Care in Action
Kwabadala Residential Care Facility
Life Esidimeni (Pty) Ltd
Mangaung Society for the Care of the Aged
Methodist Homes for the Aged (Bloemfontein) Npc (The)
Methodist Homes for the Aged (Eastern Cape) Npc
Methodist Homes for the Aged Npc
Neighbourhood Old Age Homes
Pietermaritzburg and District Association for the Care of the Aged
Rand Aid Association
Residentia Foundation
Silver Crown Old Age Home
Sonop Old Age Home
South Africa Red Cross Society Npc (The)
Suid-Afrikaanse Vrouefederasie
Thekolohelong Welfare Centre
Yade Caring Action Npc
Zanele Mbeki Frail Care Centre

For more information about this report visit https://www.researchandmarkets.com/r/2weyyz

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets