Services For the Elderly And Persons with Disabilities Market Competitive Landscape 2024-2033 – Major Players and Strategies

Overview and Scope Services for the elderly and persons with disabilities refers to non-residential social assistance programs offered to improve the quality of life for the elderly, people with intellectual and developmental disabilities, and people with disabilities. Sizing and Forecast The services for the elderly and persons with disabilities market size has grown strongly in recent years. It will grow from $471.29 billion in 2023 to $504.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to resulted from decreasing household size, economic growth in emerging markets, increased aging population, technology development and mobile apps, government funding for elder care, increasing prevalence of diseases, and health insurance reforms. The services for the elderly and persons with disabilities market size is expected to see strong growth in the next few years. It will grow to $654.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing healthcare access, preferring community stay, rapid growth in the aging population, changes in lifestyles and increasing household incomes. Major trends in the forecast period include companies should consider implementing telehealth technologies to improve the quality of care offered to patients, implement electronic technologies to keep track of home health care services and reduce fraud cases, adopt big data technologies and collaborating with analytics companies to gain critical insights on seniors’ health, develop customized services to provide individualized care to senior residents with complicated health issues, consider adopting electronic health records to safely store and streamline contact with residents and have timely access to the medical history of the residents, focus on adopting artificial intelligence to provide software solutions that make tasks easier and simpler, adopt robots to smooth the transition of care facilities to elderly patients, consider investing in technologies to efficiently track patient data and provide quality services to senior citizens, should consider using online funding platforms to raise funds for their welfare activities, offer integrated care services to expand their offerings and attract a greater number of customers and focus on providing services virtually and adapting to the dynamic environment caused by the covid-19 pandemic.. Order your report now for swift delivery, visit the link: https://www.thebusinessresearchcompany.com/report/services-for-the-elderly-and-persons-with-disabilities-global-market-report Segmentation & Regional Insights The services for the elderly and persons with disabilities market covered in this report is segmented – 1) By Type of Service: Institutional Care, Adult Day Care, Home Care 2) By Service Provider: Public Expenditure, Private Expenditure, Out of Pocket Spending 3) By End User: Elderly, Disabled Adults Western Europe was the largest region in the services for the elderly and persons with disabilities market in 2023. Asia-Pacific was the second-largest region in the global services for the elderly and persons with disabilities market share. The regions covered in the services for the elderly and persons with disabilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa Intrigued to explore the contents? Secure your hands-on a free sample copy of the report: https://www.thebusinessresearchcompany.com/sample.aspx?id=3490&type=smp Major Driver Impacting Market Growth The decreasing household size coupled with a rapidly aging population is anticipated to aid in the growth of the services for the elderly and persons with disabilities market. The decline in household size is attributed to the reduced number of people living as a family. For instance, in November 2022, according to the Public Policy Institute of California a US-based non-profit institute, The average number of people per household experienced a significant decrease at the beginning of the pandemic, reaching 2.85 in 2021. It continued to decline, dropping by a further 1.4% to 2.81 in 2022. Also, the surge in the aging population is generating higher demand for services for elderly people, thereby propelling the revenues of the market. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. The number of persons who are 80 years of age or older will increase by 426 million between 2020 and 2050 compared to the current population. The need for care for the aging population creates a demand for services