Rising inclination toward home care service to drive the elderly care services market in the forecast period, 2024-2028.
According to TechSci Research report, “Europe Elderly Care Services Market – By Country, Forecast and Opportunities, 2018-2028”, the Europe elderly care services market is anticipated to grow at a significant rate in the forecast period, 2024-2028. The increasing adoption of advanced technology and product innovation in the region are the augmenting the growth of the Europe elderly care services market. Also, the growing occurrences of chronic conditions such as diabetes, cancer, strokes, high blood pressure, among others are expected to fuel the growth of the market. According to the Global Cancer Observatory, around 4,398,443 new cancer cases were reported across the Europe in 2020. Out of this, 2,339,617 new cancer cases were reported in men while in females the number of new reported cancer cases were 2,058,826. This in turn has increased the patient pool requiring treatment and care, thereby fueling the market growth.
However, the high cost of services offered by the private players and lack of skilled professionals to provide the elderly care services may hamper the growth of the market in the forecast period.
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The Europe elderly care services market is segmented into service type, service provider, country, and company.
Based on service type, the market is divided into home-based care, community-based care, and institutional care. The home-based care segment is expected to witness a rise over the forecast period. This is attributed to the rising preference of adults as it provides comfort as well as peace of mind.
Based on service provider, the market is divided into public, and private. The private segment is anticipated to grow during the forecast period. This is attributed to the presence of trained workers, better consultation and service to the consumers, and presence of numerous support policies which offer good coverage of several diseases and expenses.
Major companies operating in Europe elderly care services market are:
- Korian Group
- Orpea Group
- DomusVi SAS
- Groupe Colisée
- HC-One Ltd
- Alloheim Senioren-Residenzen GmbH
- KOS Group
- Victor’s Group
- EMVIA LIVING Group
- Emera Group
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“Germany is expected to witness a significant growth in the upcoming years, due to the availability of well-established health policies, and presence of all kinds of elderly care services, including institutional services, daycare, vocational rehabilitation services, among others. The number of older people in the region is increasing at an unprecedented rate, and also the growing public and government funding helps in improving care facilities which helps in taking care of elderly, thus, in turn, strengthening the growth of the market, which is expected to grow through 2028” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Europe Elderly Care Services Market, By Service Type (Home-Based Care, Community-Based Care, Institutional Care), By Service Provider (Public, Private), By Country, Competition Forecast & Opportunities, 2028”, has evaluated the future growth potential of Europe elderly care services and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe elderly care services market.
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