The US Elderly Care Market to Reach Revenue of Over USD 651.48 Billion by 2029, More than $200 Billion Opportunities in the Next 6 Years - Focus Report by Arizton
CHICAGO, March 6, 2024 /PRNewswire/ -- According to Arizton's latest research report, the US elderly care services market will grow at a CAGR of 6.15% from 2022 to 2029.
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The U.S. Elderly Care Market Report Scope
Report Attributes |
Details |
Market Size (2029) |
USD 651.48 billion |
Market Size (2023) |
USD 455.49 billion |
CAGR (2022-2029) |
6.15 % |
Forecast Year |
2023-2029 |
This report offers market size & forecast data for the elderly care services market in the U.S. The revenue generated from service offerings is included in the report. This report provides a comprehensive and current market scenario of the U.S. elderly care services market, including the U.S. elderly care services market size, anticipated market forecast, relevant market segmentations, and industry trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.
The US is the largest revenue contributor to the global elderly care services market. It is observed that elders prefer home treatment for respiratory therapy services and infusion therapy services, which shows a positive shift in the market growth during the forecast period. The demand for post-hospital home health treatment services for the elderly suffering from cancer is expected to rise during the forecast period. LHC Group is one of the leading market players in the US. To enhance home health services in the country, LHC Group entered an agreement for the joint venture with the Archbold Medical Center in 2022.
In 2023, west region dominated the market with the highest market share of 41.26% and is expected to reach 42.11% during the forecast period. The West region has a strong presence of assisted living facilities. Based on the American Health Care Association and National Center for Assisted Living report 2023, the West region had the highest presence of assisted living communities compared to other regions. Approximately 2,121 certified skilled nursing facilities are present in the western region of the US. Alaska is one of the significant markets for elderly care services in the US. Around 45% of assisted living residents in this state are over 85. There is a constant increase in the aged population; for instance, in 2019, around 12.0% of the population in this state was 65 and above. The price for assisted living facilities is a bit higher when compared to other zones. This is because of the size of the population living in the West zone, thereby causing more demand for assisted living communities, which, in turn, contributes to higher prices. California boasts the highest number of senior care providers compared to any other state in the US, making it home to a substantial portion of the nation's assisted living communities.
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Product Segmentation & Forecast
- Service Type
- Home Care
- Assisted Living
- Nursing Care
- Others
- Application
- Non-Healthcare
- Healthcare
- Age Group
- Aged 65-74
- Aged 75-84
- Aged 85 and Above
- Geography
- West Region
- South Region
- Mid-West Region
- North-East Region
U.S. Elderly Care Services Market Vendors
Key Players
- Brookdale Senior Living
- Lincare
- Amedisys
- LHC Group
- Davita
Other Prominent Players
- Humana
- Genesis Healthcare
- Bayada Home Health Care
- National Church Residencies
- The Ensign Group
- Enlivant
- Sunrise Senior Living
- Life Care Centers of America
- Elara Caring
- Five Star Senior Living
- BrightSpring Health Service
- Fresenius Medical Care
- Pacifica senior living
- Eddy Senior Living
- Embassy Healthcare Services
- Erickson Senior Living
- Frontier Management
- Gardant Management Solutions
- ProMedica Senior Care
- Integral Senior Living
- Kisco Senior Living
- Leisure Care
- Lifecare Services
- MBK Senior Living
- Meridian Senior Living
- Merrill Garden
- Northbridge Companies
- Northstar Senior Living
- Oakmont Senior Living
- Pathway to Living
- Pegasus Senior Living
- Pinnacle Senior Living
- Prestige Care
- Senior Lifestyle
- Senior Resource Group
- Sinceri Senior Living
- Vi Living
- Waltonwood Senior Living
- Watermark Retirement Communities
- Americare Senior Living
- Benchmark Senior Living
- Belmont Village
- The Evangelical Lutheran Good Samaritan Society
- Spring Arbor
- Trilogy Health Services
Key Question Answered in the Report
How big is the U.S. elderly care services market?
What is the growth of the U.S. elderly care services market?
What factors are driving the growth of the U.S. elderly care services market?
Who are the key players in the U.S. elderly care services market?
Table of Contents
CHAPTER – 1: Elderly Care Services Market Overview
- Executive Summary
- Key Findings
CHAPTER – 2: Elderly Care Services Market
- U.S.: Projected Revenue of Elderly Care Services Market (2023-2029; $Billions)
CHAPTER – 3: Elderly Care Services Market Segmentation Data
- U.S.: Projected Revenue by Service (2023-2029; $Billions)
- Homecare
- Assisted Living
- Nursing Care
- Others
- U.S.: Projected Revenue by Application (2023-2029; $Billions)
- Non-Healthcare
- Healthcare
- U.S.: Projected Revenue by Service Age Group (2023-2029; $Billions)
- Aged 65-74
- Aged 75-84
- Aged 85 and Above
- U.S.: Projected Revenue by Geography (2023-2029; $Billions)
- West Region
- South Region
- Mid-West Region
- North-East Region
CHAPTER – 4: Elderly Care Services Market Prospects & Opportunities
- Elderly Care Services Market Opportunities & Trends
- Elderly Care Services Market Drivers
- Elderly Care Services Market Constraints
CHAPTER – 5: Elderly Care Services Industry Overview
- Elderly Care Services Market - Competitive Landscape
- Elderly Care Services Market – Key Vendor Profiles
- Elderly Care Services Market - Other Prominent Vendors
- Elderly Care Services Market - Key Strategic Recommendations
CHAPTER – 6: Appendix
- Research Methodology
- Abbreviations
- About Arizton
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SOURCE Arizton Advisory & Intelligence
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