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Opportunities for the Global Elderly Care Services Market to reach Blatant Growth in Coming years by 2032 | Interim HealthCare, Revera, CONSUMER DIRECT CARE NETWORK, Sunrise Senior Living, BrightSpring Health Services, Four Seasons Healthcare, Brookdale S
Elderly Care Services Market
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By 2032, it is anticipated that the global market for elderly care services would develop at a CAGR of 6% and reach US$ 954 million. The world's ageing population, the increased frequency of chronic diseases among older people, the development of healthcare technology, and the execution of several government programmes aimed at improving aged care services are all factors contributing to this trend.
According to estimates, the value of the global market for aged care services is dominated by housing and assistive technology. The adoption of assistive technologies and gadgets, such as robotics and home automation systems, to enhance the quality of life for elderly people is credited with this development. Additionally, one of the factors promoting growth in this market is the rising awareness of the need for aged care services as well as the accessibility of such services.
As per assumptions, the market for aged care services worldwide will be dominated by heart problems in terms of value. This is a result of the elderly population's rising prevalence of cardiovascular diseases and the consequent rise in demand for aged care services. Additionally, there is a higher demand for elderly care services as the population gets older and lives longer and healthier lives.
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In terms of value, North America is anticipated to hold the highest regional share of the market for aged care services. This is due to factors including the region's better healthcare infrastructure and higher healthcare spending. Due to the presence of a sizable older population and growing awareness of the availability of such services, Europe is anticipated to be the second-largest market for aged care services.
Home Instead Senior Care, one of the top suppliers of senior care services, declared plans to introduce a new healthcare programme designed especially for senior citizens in the US and Europe in January 2022. One of the top health insurers in the world, Aetna International, declared in March 2022 that it would be bringing its aged care services to Europe to fulfil the rising demand for such services.
The Department of Health and Human Services published a report in January 2021 on the rising need for elderly care services in the US, emphasising the requirement for more easily accessible and reasonably priced services for seniors. A campaign to increase awareness of the need for aged care services was launched in March 2021 by a coalition of health insurers and elderly care providers, headed by Home Instead Senior Care. The Elderly Care Coalition (ECC), as it was known, sought to provide the elderly care sector with a cohesive voice.
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