Elder Care Services Market to represent a significant expansion at CAGR of 8.4% by 2025

Research Report Insights (RRI) has launched the report titled, “Elder Care Services Market to represent a significant expansion at CAGR of 8.4% by 2025”

The overall elder care services market is estimated to be valued at US$ 927.1 billion in 2017 and is slated to reach a market value nearly US$1767.3 billion in the year end 2025. This billion dollar market is projected to grow progressively at a CAGR of 8.4% during the assessment period.

The overall market is segmented into service type, financing source and region.

Forecast by service type

Based on service type, the market is sub-segmented into institutional care, home-based care and community-based care. The institutional care segment is projected to account for nearly 75% of revenue share of the market in 2025 and remain lucrative throughout the forecast period.  However, by 2025, the community-based care remains the second leading sector to account for nearly 18% revenue share of the market.

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Forecast by financing source

In terms of financing source, the overall market is sub-segmented into out-of-pocket spending, public expenditure and private source. The public expenditure majorly finances the overall elder care services market, exhibiting a CAGR of 7.9% during the assessment period. The out-of-pocket spending will remain the second most lucrative market by recording a CAGR of 9.4% growth during 2017–2025

Forecast by region

The global market is studied across the five prominent regions

• Middle East & Africa

• Europe

• North America

• Asia Pacific

• Latin America

The European market remains the leading market for the elder care services accounting for 37% revenue share of the market in 2017. North America is estimated as the second leading market accounting for around 30% of revenue share in the beginning of the forecast period. Although, the APAC market is projected to witness a CAGR of 11.0% as the emergent market throughout the projection period.

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The key companies in the overall elder care services market include,

• Econ Healthcare Group

• St Luke’s ElderCare Ltd

• Samvedna Senior Care

• Benesse Style Care Co. Ltd

• Epoch Elder Care

• Latin America Home Health Care

• ApnaCare Latin America Private Limited

• NTUC Health Co-Operative Ltd

• Nichiigakkan Co. Ltd

• Orange Valley Healthcare

• Golden Years Hospital

• SASCO Integrated Eldercare Centre

• GoldenCare Group Private Limited

• Carewell-Service Co., Ltd, RIEI Co. Ltd

• Pacific Healthcare Nursing Home

• Cascade Healthcare

• Millennia Personal Care Services

• United Medicare Pvt Ltd.

• Rosewood Care Group Inc.

Report Analysis: https://www.researchreportinsights.com/report/rd/110114971/Elder-Care-Services-Market

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