Elderly Care Market By Type (Services {Assisted Living, Adult Day Services, Home Care Services, Palliative Care, Long-term Care, Others} and Products {Mobility Assistance Devices, Assistive Devices, Medical Devices, Others}), By Application (Chronic Illness Management, Post-Surgical Recovery, General Well-being), By End-User (Hospitals, Long-term Care Centers, Home-based Settings, Others), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The Elderly Care market accounted for USD 1,148.5 Billion in 2024 and is expected to reach USD 2,368.2 Billion by 2035, growing at a CAGR of around 6.8% between 2025 and 2035. The elderly care market is defined as the industry that seeks to address the demands of the aging population through services and goods. It encompasses a wide range of items, including domestic help, retirement homes, nursing facilities, hospice services, and geriatric medical equipment.

The market for such services is quickly expanding as the global population grows, particularly among the elderly in affluent countries. It covers technologies like health management gadgets and the use of technology to connect clinicians via remote control to help the elderly live peacefully. This market is growing as people live longer lives and require more care for health-related concerns that affect the elderly physically, psychologically, and emotionally.

Report Scope:

Market Dynamics

Rising chronic conditions drive the need for specialized elderly care.

As the population ages, ailments such as diabetes, heart disease, arthritis, and cancer become more widespread, necessitating additional specialist elder care. Because the bulk of the older population is aging, many chronic health disorders are difficult to manage as they progress. They may necessitate specialist care and regular follow-up from a physician. These chronic diseases cause a loss of physical ability and mental function, as well as individual liberty, necessitating the use of home care, assisted living, and nursing homes with suitable capacity.

People now live longer lives as a result of ailments that require more specialized care services. The need for qualified caregivers and other healthcare workers to assist with basic ADLs and medical care is much greater. According to the Centers for Disease Control and Prevention (CDC), approximately 80% of the elderly have at least one chronic disease, with 68% having two or more, indicating a critical need for aged care solutions.

Technological advancements enhance care delivery and patient monitoring.

Technological advancements are critical for improving service delivery and patient monitoring in the elderly care market. As the older population grows, healthcare professionals are turning to more complex technologies to meet the increasing demand for care. One of the most notable advances is the incorporation of telemedicine and remote patient assessment. These technologies enable healthcare practitioners to monitor the physiological markers of elderly patients, test for chronic diseases, and give remote consultations, thereby enhancing access to care and reducing hospitalizations.

Wearable gadgets, such as smartwatches and health trackers, may constantly monitor heart rate, blood pressure, and other vital health parameters, allowing caregivers to discover potential health issues before they worsen. The creation of robotic care assistants to help the elderly with daily duties like walking, lifting, and medication is a recent notable advancement in this field. These robots can help the elderly overcome loneliness and mental health issues by keeping them company.

Expensive long-term care limits accessibility for many elderly individuals.

Most long-term care services are expensive, which creates a financial barrier for the elderly care market. Thus, high health-care expenditures have become a source of financial hardship for many elderly people and their families, necessitating the usage of family caregivers or low-cost help. Another contributing aspect to the problem is a lack of competent practical nurses, doctors, and caretakers, particularly in rural areas. Burdens from various policies across regions exacerbate the problems, making it nearly impossible for any provider to consistently operationalize care.

There is little inexpensive housing in many countries, and there are no appropriate facilities for an older person with special needs. Such factors lead to a growing gap between the demand for aged care and the supply required to meet demand, leaving many elderly people unable to access adequate care. In the elderly care market, using existing social capital, it is possible to conclude that financial costs, combined with the lack of integrated support systems, can remain a key worry.

Innovation in elderly care technologies such as robotics and telemedicine.

The elderly care market has significant opportunities due to the rise of robotics and telemedicine. As individuals age, there is a growing global need for solutions that improve their quality of life and lengthen their lifespan. Mobility, prescription administration, and companionship are some of the functions that robots can perform to assist elderly persons in becoming more independent and safe. Similarly, telemedicine allows doctors to conduct remote consultations, decreasing the need for in-person visits and providing equal access to health care services. What makes these technologies so significant is that they relieve caretakers while also supporting people with chronic diseases in avoiding such catastrophes.

Furthermore, AI and machine learning can be linked to these systems to generate more personalized products and increase market demand. As a sector that is rapidly expanding due to changes in home care preferences, incorporating these technologies will result in improved outcomes and cheaper healthcare costs, propelling it forward.

Government initiatives and funding to support elderly care infrastructure

The elderly care market has significant potential with tremendous demand for elderly health care services and the requisite infrastructure. Governments all around the world are already putting in place various measures and financing programs to help the elderly, such as senior housing, home healthcare, and aged care facilities. Public policies frequently aim to increase the availability, affordability, and quality of services, with provisions for tax credits, gifts, and subsidies to the senior care industry.

As aging-in-place models gain popularity, technology solutions such as telemedicine and smart home applications are increasingly being used to open up new market opportunities. Moreover, it is stated that governments collaborate with the private sector to construct these long-term care systems, which improves the investment climate. All of these efforts not only address the basic requirements of the elderly but also stimulate the growth of amity in the public health service business, thereby increasing the value of the senior care market investment. The demographic shifts described above indicate a favorable environment for the growth of the aged care market as a result of support, legislation, and technology.

Industry Experts Opinion

"The overwhelming majority of elderly people prefer to remain in their own homes as they age. Aging in place with a combination of formal and informal care not only supports their independence but also offers a cost-effective alternative to institutional care."​

• Dr. Virginia L. Haines, a clinical psychologist specializing in aging.

"The challenge facing aging societies is clear. It will require significant changes in policy to manage the increasing demand for care and address the financial burden of institutional care. A federal catastrophic public insurance program is crucial to providing relief to families and stabilizing long-term care costs."​

• Stuart M. Butler, PhD, Senior Fellow at The Brookings Institution.

Segment Analysis

Based on type, the elderly care market is classified into Services and Products. The elderly care market has identified its most important and dominant service segment. The same applies to home healthcare services, nursing care, and assisted living, all of which are developing industries due to the large aging population and the growing demand for individualized care. This industry is regarded as the most appealing due to the increased demand for adaptable services with personalized approaches such as medical assistance, first aid, rehabilitation, and companion care response. Furthermore, the trend toward elderly home care rather than out-of-home care solutions such as nursing facilities has fuelled demand.

Based on application, the elderly care market is classified into Chronic Illness Management, Post-Surgical Recovery, and General Well-being. The elderly care market identifies chronic illness management as the largest segment. The demographic is prone to developing chronic ailments such as arthritis, diabetes, heart disease, and dementia, to name a few, which require ongoing monitoring. There is always a growth in demand for specialist services, therapies, and medical equipment for managing the chronic illnesses of the world's aging population. Individuals living with chronic illnesses require efficient chronic care management for elders to reduce readmissions to acute care hospitals. This segment is dominant as it focuses on the most significant issues affecting the health of elderly people.

Regional Analysis

The North American elderly care market is expected to rise because of an increasing elderly population, longer life expectancy, and a higher frequency of chronic disorders among seniors. The United States now dominates this market, but its northern neighbor, Canada, is also seeing increased demand for such services. Another benefit of keeping the elderly at home is the low cost of home care services, which have grown in popularity since most families prefer home to institutional care.

Continuing-care retirement complexes, assisted living facilities, and nursing homes remain essential niches. Telemedicine, remote monitoring, and health-related apps are also transforming the landscape of aged care by improving access and quality of treatment. Federal programs such as Medicare and Medicaid continue to support the industry's expansion, despite other challenges such as a shortage of caregivers and high expenses. The market is also moving toward more patient-centered types of care.

The Asia-Pacific elderly care market is fast-growing due to the increased longevity and the aging populace of the area. For instance, Japan, China, and South Korea are experiencing sharp population aging and, therefore, increased need for elderly care and other health care products. Therefore, there remains a high demand for home health care, nursing home health care, and assisted living health care services.

Further, the use of technology in senior care, such as remote monitoring and telemedicine, plays a role in developing appropriate aged care methods. There is also a growing emphasis on home-visit care in the market and in developing nations with sizable rural populations. These reforms include healthcare and social services for the elderly in the countries, which are among the factors driving market growth. Nonetheless, issues such as employee scarcity, cultural attitudes toward the elderly, and funding remain a cause of concern in the region.

Competitive Landscape

The elderly care market is fiercely competitive, with Amedisys Inc., LHC Group Inc., Visiting Angels, Brookdale Senior Living, Comfort Keepers, Encompass Health Corporation, Humana Inc., Genesis HealthCare, and Kindred Healthcare, among others, contending for market share. These organizations offer home health and hospice care, assisted living, and rehabilitation services.

Amedisys and LHC Group have just launched a home health and hospice network, while Brookdale Senior Housing is growing its senior housing community with a caregiver focus. Humana has upgraded its Medicare Advantage plan to include more in-home health services. Genesis HealthCare has been expanding its post-acute care portfolio. These developments represent a shift toward centralized and home-based care systems in response to increased healthcare demands among the elderly.

Elderly Care Market, Company Shares Analysis, 2024

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Recent Developments:

• In May 2024, Apollo Homecare launched the 'Home Discharge Program' to offer post-discharge care for cardiac surgery patients. This initiative represents a significant advancement in improving recovery and ensures the long-term well-being of patients undergoing cardiac procedures.
• In Oct 2023, Age Care Labs, a platform focusing on elder care, has successfully raised $11 million in a pre-Series B funding round. This investment round was spearheaded by Rainmatter Capital, the investment arm of Zerodha, along with Gruhas, a Venture Capital fund co-founded by Nikhil Kamath and Abhijeet Pai. Notable participation also came from Alok Oberoi, Ajay Srinivasan, and Lumis Partners, an existing investor.

Report Coverage:

By Type

• Services
  • Assisted Living
  • Adult Day Services
  • Home Care Services
  • Palliative Care
  • Long-term Care
  • Others
• Products
  • Mobility Assistance Devices
  • Assistive Devices
  • Medical Devices
  • Others

By Application

• Chronic Illness Management
• Post-Surgical Recovery
• General Well-being

By End-User

• Hospitals
• Long-term Care Centers
• Home-based Settings
• Others

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of Middle East & Africa

List of Companies:

• Amedisys, Inc.
• LHC Group, Inc.
• Visiting Angels
• Brookdale Senior Living, Inc.
• Amedisys Inc.
• Comfort Keepers
• Encompass Health Corporation
• Humana Inc.
• Genesis HealthCare
• Kindred Healthcare
• MedeAnalytics
• Bayada Home Health Care
• Maxim Healthcare Services
• Medtronic
• CVS Health
• Cedarbrook Senior Care

Frequently Asked Questions (FAQs)