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Elderly Care Services Market
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Elderly Care Services Market

Author: Debadatta Patel - Senior Consultant, Report ID - DS1806002, Published - November 2024

Segmented in Type (Home Healthcare, Nursing Care, Hospice Care, Assisted Living), Service Provider (Private, Public, Non-Profit), Mode of Delivery and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2023 – 2033

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Elderly Care Services Market Outlook

Caring for the elderly is becoming increasingly important worldwide as the number of old-age individuals continues to increase steadily over time. Prompting a greater need for healthcare services and personalized support tailored specifically for this demographic group of people. As of 2023, the market for elderly care was estimated at $1.8 billion and is anticipated to rise to $3.2 billion by 2030 and ultimately reach $5 billion by 2035. In this period, this market is expected to observe a Compound Annual Growth Rate of 8.9%.


A wide range of healthcare services are available to cater to medical and personal care requirements. These services encompass, in home care well as assisted living options.


Market Size Forecast & Key Insights

2018
$1.8B2023
2028
$4.2B2033

Absolute Growth Opportunity = $2.4B

The Elderly Care Services market is projected to grow from $1.8 billion in 2023 to $4.2 billion in 2033. This represents a CAGR of 8.9%, reflecting rising demand across Home Healthcare, Nursing Care and Hospice Care.

The Elderly Care Services market is set to add $2.4 billion between 2023 and 2033, with service providers targeting Nursing Care & Hospice Care Type projected to gain a larger market share.

With Aging population boom, and Rise of chronic illnesses, Elderly Care Services market to expand 135% between 2023 and 2033.

Opportunities in the Elderly Care Services Market

Increased Government Funding

Governments are investing money to enhance the infrastructure, for healthcare and broaden the range of services available.

Expanding Telehealth Services and Growing Demand for Dementia Care

The expansion of telehealth services provides remote care choices for the elderly population and eases the burden on caregivers.

The increasing prevalence of dementia and Alzheimers disease presents a chance for the development of custom care services designed specifically for individuals, with these conditions.

Growth Opportunities in North America and Asia-Pacific

Asia Pacific Outlook

The rising numbers of elderly individuals in Japan and South Korea have led to a growing need for eldercare services. Government supported initiatives are being expanded to cater to the rising demands, in this sector.

North America Outlook

The healthcare systems in both the United States and Canada have developed infrastructure to cater to the needs of the elderly population. They have also made investments, in remote care solutions.

North America Outlook

The healthcare systems in both the United States and Canada have developed infrastructure to cater to the needs of the elderly population. They have also made investments, in remote care solutions.

Asia-Pacific Outlook

The rising numbers of elderly individuals in Japan and South Korea have led to a growing need for eldercare services. Government supported initiatives are being expanded to cater to the rising demands, in this sector.

Growth Opportunities in North America and Asia-Pacific

Established and Emerging Market's Growth Trend 2024–2033

1

Major Markets : United States, Japan, Germany, United Kingdom, Canada are expected to grow at 6.5% to 9.3% CAGR

2

Emerging Markets : India, Brazil, South Africa are expected to grow at 8.5% to 11.1% CAGR

Market Analysis Chart

The market for elderly care is growing as populations age and the need, for managing chronic illnesses increases. However it is challenged by expenses and a shortage of caregivers.

Recent Developments and Technological Advancement

September 2023

Atria Senior Living introduced memory care initiatives tailored for individuals, with dementia.

July 2023

Honor Technology spread its caregiving platform, throughout the United States.

May 2023

Comfort Keepers launched a telehealth service to monitor the care of individuals remotely.

In the market developments, there is a growing emphasis on providing specialized care for individuals, with dementia and expanding digital platforms in the healthcare sector. Genesis Healthcare launched a rehabilitation program tailored for elderly individuals facing mobility difficulties.

Impact of Industry Transitions on the Elderly Care Services Market

As a core segment of the Other Healthcare industry, the Elderly Care Services market develops in line with broader industry shifts. Over recent years, transitions such as Integration of AI and IoT and Development of Specialized Dementia Programs have redefined priorities across the Other Healthcare sector, influencing how the Elderly Care Services market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Integration of AI and IoT:

The advancement of technologies such as AI driven health monitoring systems and Internet of Things (IoT) devices is improving the quality of care for the elderly by providing, in depth information and real time data.

2

Development of Specialized Dementia Programs:

Assisted living centers are developing programs tailored to the requirements of the expanding group of patients, with dementia.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Other Healthcare industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Other Healthcare industry cascade into the Elderly Care Services market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Aging Population Boom, and Shift Towards Home-Based Care

The rising life expectancy and increasing populations globally are also leading to a continuous need, for services catering to the elderly.
The growing trend, towards home based care and telehealth options is also making it easier and more comforting for individuals to access healthcare services.
Elderly care focuses on managing the health issues that affect older adults as they age and has also led to an increase, in services to address age related conditions.

Restraint: High Cost of Care, and Complex Regulatory Compliance

The steep expenses associated with services for the elderly pose a barrier, to accessing long term and specialized care.
Providers of elderly care services face difficulties in meeting the intricate healthcare regulations that are in place.

Challenge: Shortage of Skilled Caregivers

The increasing shortage of caregivers is affecting the quality and availability of services.

Supply Chain Landscape

Healthcare Staffing

AMN Healthcare

Encompass Health

Service Platforms

Honor

CareLinx

Medical Equipment Providers
Medline / McKesson
End Users
Families / Healthcare organizations / Government agencies
Healthcare Staffing

AMN Healthcare

Encompass Health

Service Platforms

Honor

CareLinx

Medical Equipment Providers

Medline

McKesson

End Users

Families

Healthcare organizations

Government agencies

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Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Home Healthcare
Elderly Support
Comfort Keepers
Personalized care for in-home support
Nursing Care
Healthcare Facilities
Brookdale Senior Living
Comprehensive medical and personal care
Hospice Care
Palliative Services
VITAS Healthcare
Comfort-focused care for end-of-life
Assisted Living
Residential Care
Atria Senior Living
Medical support with daily living assistance

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Elderly Care Services market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Elderly Care Services in Nursing Care, Hospice Care and Home Healthcare

Nursing Care

Elderly individuals receive medical and personal assistance at nursing homes with prominent providers such, as Brookdale Senior Living and Genesis Healthcare leading the industry in this sector.

Hospice Care

End of life support emphasizes providing palliative care services for comfort and relief. VITAS Healthcare and Kindred Healthcare are playing roles in delivering such compassionate hospice services to individuals in need.

Home Healthcare

Seniors can benefit from receiving care at home through in home healthcare services such as physical therapy and skilled nursing provided by leading companies, like Comfort Keepers and Visiting Angels who offer personalized care.

Elderly Care Services vs. Substitutes:
Performance and Positioning Analysis

Elderly care services offer assistance to the elderly. On the hand hospitals and community health centers provide more extensive but less tailored options.

Elderly Care Services
  • Home Care App /
  • Community Health Centers
    Personalized and dedicated care
    Higher costs for long-term services
    Community-based support
    Limited access to personalized medical care

Elderly Care Services vs. Substitutes:
Performance and Positioning Analysis

Elderly Care Services

  • Personalized and dedicated care
  • Higher costs for long-term services

Home Care App / Community Health Centers

  • Community-based support
  • Limited access to personalized medical care

Elderly care services offer assistance to the elderly. On the hand hospitals and community health centers provide more extensive but less tailored options.

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Research Methodology

This market research methodology defines the Elderly Care Services market scope, captures reliable data, and validates findings through integrated primary and secondary research. The framework ensures accurate market sizing, demand-supply analysis, and competitive benchmarking specific to service-driven business models.


Secondary Research Approach


We begin secondary research by defining the targeted market at both global and regional levels. Positioned within the Other Healthcare ecosystem, we analyze Elderly Care Services adoption across Home Healthcare, Nursing Care, and Hospice Care Applications. Data is systematically collected from Professional Associations, Industry-specific Service Registries, company annual reports, country level ministerial sources and other credential sources, enabling detailed mapping of service delivery models, pricing structures, regulatory compliance, and technology enablers.


Key Sources Referenced:


We benchmark service providers such as Brookdale Senior Living, Comfort Keepers, and Visiting Angels, using industry databases, client case studies, annual reports, and partnership disclosures. This secondary research identifies market drivers and constraints, providing the foundation for validation through primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Healthcare Staffing, Service Platforms, and Medical Equipment Providers. Our geographic coverage spans Americas (45%), Europe (30%), and Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally secure a 70% response rate, while in-depth interviews achieve 84% engagement, ensuring a 91% confidence level with ±8.5% margin of error.


Through targeted questionnaires and in-depth interviews, we capture customer satisfaction, vendor selection criteria, service delivery effectiveness, outsourcing vs in-house trade-offs, and post-service value realization. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering and Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down and Bottom-up Process


In the Top-down approach, we disaggregate the global Other Healthcare revenues to estimate the Elderly Care Services segment, guided by enterprise spending, outsourcing penetration, and service intensity ratios. In the Bottom-up approach, we aggregate project-level, contract-level, and client-spending data at the country and industry levels to construct detailed adoption models. By reconciling both methods, we ensure forecast accuracy and statistical robustness.


We evaluate the service value chain, covering Healthcare Staffing (AMN Healthcare, Encompass Health), Service Platforms (Honor, CareLinx), and Medical Equipment Providers. Our parallel substitute analysis examines alternative models such as Home Care App and Community Health Centers, highlighting diversification opportunities and competitive risks.


Company Market Share and Benchmarking


We benchmark leading service providers such as Brookdale Senior Living, Comfort Keepers, and Visiting Angels, evaluating their strengths in workforce capacity, global delivery centers, client engagement models, pricing competitiveness, and digital transformation capabilities. By analyzing company revenues, service portfolios, and client contracts, we derive comparative market shares, competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, contract analysis, and company benchmarking, supported by our proprietary Directional Superposition methodology, ensures us precise forecasts and actionable strategic insights into the Elderly Care Services market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Elderly Care Services Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2024USD 1.9 billion
Revenue Forecast in 2033USD 4.2 billion
Growth RateCAGR of 8.9% from 2024 to 2033
Base Year for Estimation2023
Industry Revenue 20231.8 billion
Growth OpportunityUSD 2.4 billion
Historical Data2018 - 2022
Growth Projection / Forecast Period2024 - 2033
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 20231.8 billion USD
Market Size 20262.3 billion USD
Market Size 20282.7 billion USD
Market Size 20303.2 billion USD
Market Size 20334.2 billion USD
Market Size 20355.0 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredType, Service Provider, Mode of Delivery
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledBrookdale Senior Living, Comfort Keepers, Visiting Angels, Sunrise Senior Living, Genesis Healthcare, AMN Healthcare, Honor, CareLinx, Medline, McKesson, Atria Senior Living and VITAS Healthcare
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Elderly Care Services Market Size, Opportunities & Strategic Insights, by Type

4.1Home Healthcare
4.2Nursing Care
4.3Hospice Care
4.4Assisted Living
Chapter 5

Elderly Care Services Market Size, Opportunities & Strategic Insights, by Service Provider

5.1Private
5.2Public
5.3Non-Profit
Chapter 6

Elderly Care Services Market Size, Opportunities & Strategic Insights, by Mode of Delivery

6.1In-Person
6.2Remote/Telehealth
Chapter 7

Elderly Care Services Market, by Region

7.1North America Elderly Care Services Market Size, Opportunities, Key Trends & Strategic Insights
7.1.1U.S.
7.1.2Canada
7.2Europe Elderly Care Services Market Size, Opportunities, Key Trends & Strategic Insights
7.2.1Germany
7.2.2France
7.2.3UK
7.2.4Italy
7.2.5The Netherlands
7.2.6Rest of EU
7.3Asia Pacific Elderly Care Services Market Size, Opportunities, Key Trends & Strategic Insights
7.3.1China
7.3.2Japan
7.3.3South Korea
7.3.4India
7.3.5Australia
7.3.6Thailand
7.3.7Rest of APAC
7.4Middle East & Africa Elderly Care Services Market Size, Opportunities, Key Trends & Strategic Insights
7.4.1Saudi Arabia
7.4.2United Arab Emirates
7.4.3South Africa
7.4.4Rest of MEA
7.5Latin America Elderly Care Services Market Size, Opportunities, Key Trends & Strategic Insights
7.5.1Brazil
7.5.2Mexico
7.5.3Rest of LA
7.6CIS Elderly Care Services Market Size, Opportunities, Key Trends & Strategic Insights
7.6.1Russia
7.6.2Rest of CIS
Chapter 8

Competitive Landscape

8.1Competitive Dashboard & Market Share Analysis
8.2Company Profiles (Overview, Financials, Developments, SWOT)
8.2.1Brookdale Senior Living
8.2.2Comfort Keepers
8.2.3Visiting Angels
8.2.4Sunrise Senior Living
8.2.5Genesis Healthcare
8.2.6AMN Healthcare
8.2.7Honor
8.2.8CareLinx
8.2.9Medline
8.2.10McKesson
8.2.11Atria Senior Living
8.2.12VITAS Healthcare