According to Fortune Business Insights, the elderly care market encompasses home care, nursing homes, assisted living, and adult care services, all aimed at supporting older adults. This market plays a crucial role in addressing the emotional needs of seniors while promoting their independence and overall well-being. The sector is projected to grow significantly, driven by the rising average life expectancy of individuals.

Market Overview:

The global Elderly Care Market size reached at USD 45.72 billion in 2023. The market is projected to grow from USD 49.29 billion in 2024 to USD 98.19 billion by 2032, exhibiting a CAGR of 9.00% over the forecast period.

List of Key Players Mentioned in the Report:

• Helping Hands Home Care (England)
• CK Franchising, Inc. (U.S.)
• Rosewood Care Group (Australia)
• Living Assistance Services (Canada)
• Interim HealthCare Inc. (U.S.)
• Home Instead, Inc. (U.S.)
• Right at Home, LLC (U.S.)
• Exceptional Living Centers (U.S.)
• Care24 Pvt Ltd. (India)
• Visiting Angels (U.S.)

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Segmentation:

Home Care Segment Led, Driven by Independent Care Offerings

In terms of service facility, the market is divided into home healthcare and public/private. In 2023, the home care segment dominated the market with a 58% share, driven by the appeal of independent care, convenience, and cost savings in the comfort of the home.

Homemaking Segment Held a Dominant Share On Account of its Ability to Manage Mobility Issues

Based on service type, the market is classified into companion care, homemaking, rehabilitation/recovery, personal care, and others. The homemaking segment led the market, with the highest elderly care market share. It includes essential services such as meal preparation, running errands, cleaning, and laundry, primarily benefiting older adults with mobility issues or health conditions, easing their daily burdens.