Valued to be $1.7 Trillion by 2026, Elder Care Services Slated for Robust Growth Worldwide

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Jun 27, 2022, 09:25 ET

SAN FRANCISCO , June 27, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Elder Care Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

Valued to be $1.7 Trillion by 2026, Elder Care Services Slated for Robust Growth Worldwide

Global competitiveness and key competitor percentage market shares
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Edition: 7; Released: January 2022
Executive Pool: 359
Companies: 16 - Players covered include ApnaCare India Pvt. Ltd.; Benesse Style Care Co., Ltd.; Carewell-Service Co., Ltd.; Cascade Healthcare Solutions; ECON Healthcare Group; Epoch Elder Care; Golden Years In-Home Senior Care; Goldencare Group Pte Ltd; Nichiigakkan Co., Ltd.; NTUC Health Co-Operative Ltd.; Orange Valley Healthcare Pte Ltd.; Pacific Healthcare Holdings Limited; RIEI Co. Ltd; Rosewood Care Group Inc.; Samvedna Senior Care; SASCO Integrated Eldercare Centre; St Luke's ElderCare Ltd.; United Medicare Pte Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Service Type (Home-Based Care, Community-Based Care, Institutional Care)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Elder Care Services Market to Reach $1.7 Trillion by 2026
Amid the COVID-19 crisis, the global market for Elder Care Services estimated at US$1.1 Trillion, is projected to reach a revised size of US$1.7 Trillion by 2026, growing at a CAGR of 7.2% over the analysis period. Home-Based Care, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$199.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Community-Based Care segment is readjusted to a revised 3.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $322.6 Billion in 2021, While China is Forecast to Reach $354.9 Billion by 2026
The Elder Care Services market in the U.S. is estimated at US$322.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$354.9 Billion by the year 2026 trailing a CAGR of 10.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Institutional Care Segment to Reach US$1.2 Trillion by the year 2026
In the global Institutional Care segment, USA, Canada, Japan, China and Europe will drive the 7.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$544.4 Billion will reach a projected size of US$927.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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