United States Elderly Care Services Market Insights Report 2024: Western Region Leads Growth, California Dominates - Forecasts to 2029

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Feb 28, 2024, 14:00 ET

DUBLIN, Feb. 28, 2024 /PRNewswire/ -- The "U.S. Elderly Care Services Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The U.S. elderly care services market was valued at USD 455.49 billion in 2023 and is expected to grow at a CAGR of 6.15% from 2023-2029

The elderly care service market in the U.S. is highly competitive due to numerous organizations offering similar services and community-based service programs. Due to their high geographical presence, availability of expertise, and well-known brand image, companies have better market share in the U.S. Brookdale Senior Living, Lincare, Amedisys, LHC Group, and Davita are some prominent players in the U.S. elderly care service market.

The Western region shows significant growth in market size and shares in the U.S. elderly care services market due to the considerable increase in the percentage of the elderly population in the Western region, which consists of 13 cities. California boasts the highest number of senior care providers compared to any other state in the U.S., making it home to a substantial portion of the nation in the West.

By service type, the homecare segment dominated the elderly care services market by occupying over 32% of the market share in the year 2023, and it is expected to grow exponentially. This segment increase is attributed to many reasons, including the increasing aging population, the shift towards in-home care services by elders, and the prevalence of diseases among elders.

The non-healthcare application segment is growing with the highest CAGR of 6.47% in the U.S. elderly care services market during the forecast period. This is mainly because most older adults live in homes that they rent or own. The need for services and support like housework, bathing, or medicating is expected to increase.

The 75-84 age group occupies a significant market share in the U.S. elderly care services market, and growth projections for 2029 indicate that the number will increase even more. The growth of this segment is driven by baby boomers constantly looking for help in household activities. The oldest baby boomer will be 83 years old by then, and there is a sharp rise in middle-income seniors as they constitute a large portion of the overall senior population.

KEY QUESTIONS ANSWERED

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?

MARKET STRUCTURE

Market Dynamics
Competitive Landscape of Elderly Care Services Market
Key Vendors
Other Prominent 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

PRODUCT SEGMENTATION & FORECAST

By Service Type

Home Care
Assisted Living
Nursing Care
Others

By Application

Non-Healthcare
Healthcare

By Age Group

Aged 65-74
Aged 75-84
Aged 85 and Above

By Geography

West Region
South Region
Mid-West Region
North-East Region

For more information about this report visit https://www.researchandmarkets.com/r/oi9d1q

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