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Global Elder Care Market: Introduction

Increase in geriatric population is a major factor boosting the growth of the global elder care market. This is attributed to rise in prevalence of various diseases among the population. Changing social and economic conditions in most countries across the globe fuels the growth of the global elder care market. Rise in demand for residential care facilities among elderly people suffering from chronic ailments such as dementia and Alzheimer’s is expected to drive the market in the next few years.

Key Drivers of Global Elder Care Market

Increase in Geriatric Population

The global geriatric population continues to increase at an unprecedented rate. Presently, 8.5% people across the world (617 million) are aged 65 years and above. According to a new report, An Aging World: 2015, the percentage is projected to jump to nearly 17% of the world’s population by 2050 (1.6 billion). According to the National Institutes of Health, the population aged 65 and above in the U.S. is anticipated to nearly double in the next three decades, from 48 million to 88 million by 2050. The global population aged 80 and older is expected to more than triple between 2015 and 2050, from 126.5 million to 446.6 million. The population aged 80 and older in some countries in Asia and Latin America is likely to quadruple by 2050. According to the WHO, the global population is increasing at the annual rate of 1.7%, while the population over 65 years is increasing at a rate of 2.5%. The fastest growing population segment in most countries is adults older than 80 years, which, according to the United Nations estimates, is likely to make up nearly 20% of the world’s population. Nutritional risk factors in the elderly population and careful screening can intervene in the early stages, which can be termed valuable and effective.

Rise in Prevalence of Cardiovascular Diseases

Globally, cardiovascular conditions accounted for 17.6 million deaths in 2016, compared to 17.9 million in 2015. Cardiovascular diseases (CVDs) are disorders of the heart and the blood vessels. These include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Cardiovascular diseases is the leading cause of mortality in the U.S., followed closely by cancer and chronic respiratory diseases. According to a report, about 48% of the adult population in the U.S. is living with a form of cardiovascular disease.

North America to Account for Major Share of Global Elder Care Market

  • In terms of region, the global elder care market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is projected to account for major share of the global elder care market during the forecast period. This is attributed to well-established health care infrastructure and associated elder care activities. Families prefer providing utmost care to elderly family members and others. This is expected to drive the market in North America in the next few years.
  • However, the market in Europe is likely to grow at a rapid pace in the near future. This is attributed to high awareness among the people to provide utmost comfort to elderly people. Elder care has been improving in Asia Pacific, especially due to initiatives by governments to provide maximum health care and stability through several schemes.

Key Players Operating in Global Elder Care Market

The global elder care market is highly consolidated owing to the presence of small number of key players. Leading players operating in the global elder care market include:

  • Benesse Style Care Co., Ltd.
  • ECON Healthcare Group
  • Epoch Elder Care
  • St Luke's ElderCare Ltd.
  • Latin America Home Health Care
  • Samvedna Senior Care
  • ApnaCare Latin America Private Limited
  • Nichiigakkan Co. Ltd.
  • Golden Years Hospital Orange Valley Healthcare
  • Orange Valley Healthcare
  • NTUC Health Co-Operative Ltd.
  • GoldenCare Group Private Limited

Global Elder Care Market: Research Scope

Global Elder Care Market, by Product Type

  • Pharmaceuticals
  • Housing
  • Assistive Devices

Global Elder Care Market, by Application

  • Heart Diseases
  • Cancer
  • Kidney Diseases
  • Diabetes
  • Arthritis
  • Osteoporosis
  • Neurological
  • Respiratory
  • Others

Global Elder Care Market, by End-user

  • Institutional Care
  • Homecare
  • Adult Day Care

Global Elder Care Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Elder Care Market

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