The elderly care market which was USD 1,703.03 billion in 2022, would reach up to USD 2,882.66 billion by 2030, and is expected to undergo a CAGR of 6.80% during the forecast period.
“Pharmaceuticals” dominates the product type segment of the elderly care market owing to the rising prevalence of various elderly diseases. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Elderly Care Market report provides top to bottom assessment of the market with respect to income and developing business sector. The report encompasses several market dynamics while also evaluating the growth rate and the market value based on market dynamics and growth inducing factors. The industry analysis report is mainly explored under four major areas which are market definition, market segmentation, competitive analysis and research methodology. Propylene Market business report also covers strategic profiling of the major players in the market, comprehensive analysis of their fundamental competencies, and thereby keeping competitive landscape of the market in front of the client.
Overview of Elderly Care Market:
Elderly care are inactive substances added to pharmaceutical formulations to enhance the stability, solubility, and delivery of active drug ingredients. They serve various functions, such as binding, dilution, flavoring, and preserving, ensuring the safety, efficacy, and overall quality of medications. Elderly care are carefully selected and regulated to meet strict quality and safety standards in pharmaceutical manufacturing. They play a crucial role in drug formulation and administration, facilitating the production of effective and safe pharmaceutical products.
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Dynamics Scope, Drivers and Growth Drivers of Elderly Care Market:
The elderly care market is segmented on the basis of product type, service, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Growing Awareness Regarding Elderly Care
The rising awareness regarding home care services, adult care services, and others among people globally will increase the demand for the market. With the rapid upsurge in the aged population, the need for elderly care is increasing, and the growing demand for elderly care services and products will fuel the market's growth.
Increasing Cases of Chronic Diseases
The rising number of chronic diseases such as diabetes, cardiovascular diseases, obesity, cancer, osteoporosis, and dental diseases has increased. These diseases can be prevented with proper treatment, diet, and nutrition, along with proper suggestions from doctors. But in recent times, the treatment can also be taken by sitting at home with the help of home healthcare services in which one does not need to visit hospitals.
Opportunity
Rising Healthcare Services and Facilities
The expansion of senior living facilities provides opportunities for real estate developers to design and construct age-appropriate housing and amenities, meeting the demand for comfortable and accessible living spaces for the elderly. Also, with a growing preference for aging in place, companies specializing in home healthcare services have a significant opportunity to offer personalized care, medical assistance, and companionship to seniors in the comfort of their homes.
Regional Analysis/Insights of Elderly Care Market:
North America is expected to dominate the global elderly care market during the forecast period owing to the rapid increase in demand for elderly care products and services.
Asia-Pacific is expected to grow at a highest CAGR due to rising elderly population and associated chronic ailments such as diabetes, cardiovascular and orthopaedic conditions.
The major companies which are dealing in the Elderly Care Market:
Koninklijke Philips N.V. (Netherlands)
Amedisys (U.S.)
ECON Healthcare Group (Singapore)
Encompass Health Corporation (U.S.)
EXTENDICARE (Canada)
LHC Group, Inc. (U.S.)
Medtronic (Ireland)
ORPEA GROUPE (France)
Prolifico (India)
ElderCareCanada (Canada)
Exceptional Living Centers (U.S.)
Right at Home, LLC (U.S.)
BAYADA Home Health Care (U.S.)
United Medicare Pte Ltd (Singapore)
Trinity Health (U.S.)
Rosewood Care Group (Australia)
ST LUKE'S ELDERCARE LTD (Singapore)
FC Compassus LLC (U.S.)
Home Instead, Inc. (U.S.)
Interim HealthCare Inc. (U.S.)
Living Assistance Services (Canada)
Key Market Perspectives:
Thorough examination of prevailing market tendencies
Updates on the latest product advancements and innovations
Elderly Care Market's Compound Annual Growth Rate (CAGR) for both historic and forecasted years
Strategies and activities of prominent players and brands in the field
Insights into the industry landscape for emerging participants
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Segmentation of Elderly Care Market:
By Product Type (Pharmaceuticals, Housing, Assistive Devices), Service (Institutional Care, Homecare, Adult Day Care), Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others)
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