Global Aged Care Services Market Outlook by Types, Applications, End Users and Opportunities 2022 to 2028

Simply put, elder care services take care of the demands and requirements of the elderly or the elderly.

NEWARK, USA, June 10, 2022 /EINPresswire.com/ — Global Elderly Care Services Market Size by Product Type (Pharmaceuticals, Housing and Assistive Devices), Service Type (Home Care, Care Institutional, Adult Day Care), Application Diseases, Diabetes, Kidney Diseases, Arthritis, Cancer, Osteoporosis, Neurological, Respiratory and Other Diseases), Regions, Global Industry Analysis, Share, Growth, Trends and Forecast 2022 to 2030

The global elderly care services market is expected to grow from USD 1.36 Billion in 2021 to USD 2.74 Billion by 2030, at a CAGR of 8.1% during the forecast period 2022-2030. The market has grown due to the increase in the geriatric population and the rising incidence of chronic diseases among the elderly population. In addition to this, growing awareness of aged care services among young people is also driving the growth of the market.

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Housing and assistive devices segment led the market with revenue of 0.9 billion in 2021
The product type segment is divided into pharmaceuticals and housing and assistive devices. In 2021, the housing and assistive devices segment dominated the market with revenue of $0.9 billion. The rising prevalence of chronic diseases among the geriatric population is driving the growth of the housing and assistive devices segment over the forecast period.

The institutional care segment is expected to grow at the fastest CAGR of 10.3% during the forecast period.
The service type segment is divided into home care, residential and adult daycare. During the forecast period, the institutional care segment is expected to grow at the fastest CAGR of 10.3%. Institutional care services include all kinds of services, such as healthcare services and home care services, which are driving the growth of the segment.

The heart disease segment accounted for the largest market share at 23%.
The application segment is divided into heart disease, kidney disease, cancer, diabetes, osteoporosis, neurological, arthritis, respiratory and others. In 2021, the heart disease segment dominated the market, accounting for approximately 23% of global revenue. Most people over the age of 50 suffer from diseases such as high blood pressure, hypertension, and cardiovascular disease, which increase the risk of heart disease, driving the growth of the segment.

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Regional Segmentation Analysis:
The Elderly Care Services market is analyzed based on five regions: North America, Europe, Asia-Pacific, South America, Middle East & Africa. Europe is expected to be the biggest market during the forecast period. The market for elderly care services in Europe has been growing rapidly owing to the growing geriatric population in the region and the presence of prominent players in the market. Along with this, increasing investment by government organizations to support aged care services is also driving the market growth in the region.

Brainy Insights has segmented the global elderly care services market based on the segments mentioned below:

Global Elderly Care Services Market by Product Type:
• Pharmaceutical products
• Housing and assistive devices

Global Elderly Care Services Market by Service Type:
• Home Care
• Institutional care
• Adult daycare
• Others

Global Elderly Care Services Market By Application:
• Heart disease
• Cancer
• Kidney diseases
• Diabetes
• Arthritis
• Osteoporosis
• Neurological
• Respiratory
• Others

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Competitive analysis:
Key Players of Elderly Care Services Market are Eldercare Services, Korian Group, ProVita International Medical Center, LCC, Home Replace, Inc, Living Assistance Services, Inc., Benesse Style Care Co., Ltd, Econ Healthcare Group, Epoch Elder Care, St Luke’s ElderCare Ltd and India Home Health Center among others.

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