According to a new report published by UnivDatos Markets Insights the care services market is expected to grow at a CAGR of around 9% from 2021-2027.
According to a new report published by UnivDatos Markets Insights the care services market is expected to grow at a CAGR of around 9% from 2021-2027. The analysis has been segmented into the service type (institutional care, adult day-care, home-based care); service provider (public and private); end-users (nursing care facilities, home healthcare service); by region/country
The care services market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the care service market. The care service market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the care services market at the global and regional levels.
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Market Overview
Care Services Market is designed for every individual and most commonly in the geriatric population. Care services are the services needed by the people such as daycare, long-term care, home care, nursing homes, assisted living facilities, adult day programs, dementia care facilities, hospice care, skilled care, and custodial care. These are needed because old age is a sensitive phase and various medical issues happen like heart failure, diabetes, respiratory disorders, and joint pains. Therefore, regular taking care of these population groups becomes crucial. Further, the last few years have been witnessing a change in demographics, and increasing expectancy of life of the population globally, which has resulted in the increase of the population requiring major medical support. Further, diseases like dementia and Alzheimer's have provoked a rising demand for residential care services for older people suffering due to chronic illnesses. Owing to the aforementioned factors, the demand for care services is growing.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the services industries as well. The COVID-19 pandemic has significantly affected the care services market as companies across the globe faced huge financial losses due to stringent steps adopted by the governments in order to curtail the spread of the disease.
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The global care services market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on service type, the market has been distributed into, institutional care, adult day care, and home-based care. Among these, home-based care services held a significant share in the market in 2020. This can be attributed because the old aged people are not able to go to hospitals or their children are not able to take care of them properly, so those people took home-based care services. Homebased care services are a type of health care service provided at the residence of a patient. They are professional support services provided to promote, restore, or maintain, a patient’s health and reduce the effects of disease or disability. Since the geriatric population is growing steadily across the globe, therefore the requirement for home-based care services would grow in the foreseeable future.
· Based on end-users, the market is categorized into nursing care facilities and home healthcare services. Among both, home healthcare held a significant share in the market in 2020. The patient-centric approach of the home healthcare market along with other benefits such as enhanced patient results, long-term care, cost proficiency, end of superfluous hospitalization, and the rising trend to use home health care is estimated to show positive market growth.
Have a Look at the Chapters
Care services Market Geographical Segmentation Includes:
· North America (the United States, Canada, and Rest of North America)
· Europe (Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, South Korea, Japan, and the Rest of Asia-Pacific)
· Rest of the World
The North American care services market captured a prominent position in the market and is projected to showcase substantial growth over the forecast period. This can be attributed to the rising geriatric population, increasing awareness regarding healthier lifestyles and the increasing disposable income of consumers in the region. For instance, according to the United Nations data of World Population Prospects for 2019, the number of people over the age of 65 would increase from 9% in 2019 to more than 16% of the total world's population by 2050. The rise in population has been driving the demand for home care services in North America, particularly in the U.S. and Canada. Besides development, people of the region mainly in countries like the US and Canada, are well aware of the disease, resulting in high penetration of care services in the region.
Click here to view the Report Description & TOC https://univdatos.com/report/care-services-market/
The major players targeting the market include
· Genesis HealthCare Corp.
· Benesse Style Care Co., Ltd.
· Econ Healthcare Group
· GoldenCare Group Pvt. Ltd.
· Carewell-Service Co.
· St Luke's ElderCare Ltd.
· Pacific Healthcare Nursing Home
· NTUC Health Co-Operative Ltd.
· ABM Industries
· Bayada Home Health Care
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the care services market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the care services market?
• Which factors are influencing the care services market over the forecast period?
• What are the global challenges, threats, and risks in the care services market?
• Which factors are propelling and restraining the care services market?
• What are the demanding global regions of the care services market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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