19-Apr-2021 | Facts and Factors
Findings from Facts and Factors report “Adult Day Care Services Market By Service Type (Home Care, Non-Medical Home Care, Institutional Care, and Others), By Service Provider Type (Public Organization and Private Organization), By Payment Source (Public Insurance and Private Insurance), and Age Group (60-70 years, 71-80 years, 81-85 years, and Above 86 years): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global adult day care services market in 2019 was approximately USD 842 Billion. The market is anticipated to grow at a CAGR of 8.5% and is anticipated to reach around USD 1,755 Billion by 2026.
The elderly, who are at a higher risk of chronic diseases like diabetes, heart disease, arthritis, and respiratory disorders that need continuous monitoring, are expected to drive up demand. According to World Growth Prospects, there were 962 million people over 60 in the world in 2017, with 2.1 billion expected by 2050. The population of people aged 60 and over is growing at a higher rate than that of other age classes around the world. Furthermore, this demographic group has a greater prevalence of age-related illnesses such as renal insufficiency and arthritis, physiological changes, Parkinson's disease, organ defects, and nervous disorders. Furthermore, the adult day care services industry is expected to rise due to an expanding spectrum of services provided by elderly care centers and growing demand for care services over the projected era. These providers assist patients in selecting the most suitable health plans and their specific conditions. Counseling and guidance, crisis planning, decisions on suitable accommodation choices, financial management, and personal care assistance are all available to the adult care managers. LivHome, Inc., for example, tackles safety concerns, promotes social interaction, and provides drug assistance. For patients in need, the organization has LivHome Connect senior care technology, which provides 24-hour direct remote care (ARC) from in-house registered nurses. A significant industry impediment would be the high cost of adult daycare facilities. In addition, the shortage of adequate adult care facilities in developed countries would stymie long-term business expansion. Nevertheless, the advancement of educational programs for people who want to work in this industry, as well as the development of high-quality facilities and an environment in which to increase sales and employee productivity, are both major growth opportunities.
Browse the full “Adult Day Care Services Market By Service Type (Home Care, Non-Medical Home Care, Institutional Care, and Others), By Service Provider Type (Public Organization and Private Organization), By Payment Source (Public Insurance and Private Insurance), and Age Group (60-70 years, 71-80 years, 81-85 years, and Above 86 years): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/adult-day-care-services-market.
Adult daycare programs, also called adult day care centers, are a type of facility that provides non-resident assistance and services including nutrition, housing, and social support. These services, which are provided by a strong network of practitioners and nursing staff, serve adults and the elderly. Transitional treatment and recovery services are often sought following hospital release, and adult day care services play an important role in this. Daycare centers typically run for 10-12 hours a day and offer a variety of social resources to the adult community, such as meals, medicine, general observation, and emotional and psychological assistance. Many adult day care centers focus on a specific illness and provide programs related to that disease, such as cardiovascular disease therapy and services for medically or mentally impaired people. In addition to providing assistance, several adult day care centers have taken the opportunity to provide a screening and recovery facility for the patients who visit them. These diagnostic facilities are critical in the case of seriously sick patients, such as those with Alzheimer's syndrome, those in a coma, among others. Hospitalization rates have declined in recent years as a result of adequate service of adult daycare centers.
In terms of sales share, North America dominated the industry, accounting for more than 40% of the total. The presence of a wide range of long-term care facilities across the United States, as well as the continued evolution of payment programs, are key factors contributing to its high share. The region's accelerated growth can be attributed to an increasing geriatric demographic with long-term medical needs, raising discretionary income, and increased knowledge of these healthcare services, to name a few reasons. Over the projected period, industry penetration rates are predicted to rise due to a growth in the number of geriatric care service providers and supportive government policies in these markets, such as the availability of reliable and sustainable social care facilities to the elderly. According to the Centers for Disease Control and Prevention (CDC), the population of Americans aged 65 and up is projected to reach 72 million by 2030, accounting for about 20% of the total population of the United States.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 842 Billion |
Projected Market Size in 2026 |
USD 1,755 Billion |
Growth Rate |
CAGR 8.5% |
Base Year |
2019 |
Forecast Years |
2020–2026 |
Key Market Players |
Brookdale Senior Living, Extendicare, Inc., Senior Care Centers of America, BAYADA Home Health Care, Right at Home, LLC, Amedisys, ElderCareCanada, Rosewood Care Group, Kindred Healthcare Inc., United Medicare Pte Ltd., St Luke’s Eldercare Ltd., Living Assistance Services, Inc., and Others.
|
Key Segment |
By Service, By Service Provider, By Payment Source, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Top Market Players
Some of the key players in the adult day care services market Brookdale Senior Living, Extendicare, Inc., Senior Care Centers of America, BAYADA Home Health Care, Right at Home, LLC, Amedisys, ElderCareCanada, Rosewood Care Group, Kindred Healthcare Inc., United Medicare Pte Ltd., St Luke’s Eldercare Ltd., Living Assistance Services, Inc., and Others.
This report segments the adult day care services market as follows:
Global Adult Day Care Services Market: By Service Type Segmentation Analysis:
- Home Care
- Non-Medical Home Care
- Institutional Care
- Others
Global Adult Day Care Services Market: By Service Provider Type Segmentation Analysis
- Public Organization
- Private Organization
Global Adult Day Care Services Market: By Payment Source Segmentation Analysis
- Public Insurance
- Private Insurance
Global Adult Day Care Services Market: By Age Group Segmentation Analysis
- 60-70 years
- 71-80 years
- 81-85 years
- Above 86 years
Global Adult Day Care Services Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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