Europe Elderly Care Services Market
Europe Elderly Care Services Market Size Set Expands at Significant CAGR of 7.88% During 2024–2030 to Reach USD 94.85 Billion by 2030
Published | 31 January 2024
The population of Europe is ageing quickly, with a notable rise in the proportion of senior citizens. An extended life expectancy has been attributed to improvements in healthcare, nutrition, and general living conditions. Growing older increases the risk of developing chronic illnesses and other ailments that need continuing care; these factors are anticipated to fuel the Europe Elderly Care Services Market's expansion.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe Elderly Care Services Market size at USD 79.31 Billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Europe Elderly Care Services Market size to expand at a CAGR of 7.88% reaching a value of USD 94.85 Billion by 2030. The population of Europe is ageing quickly, with a notable rise in the proportion of senior citizens. Age distribution predictions for the population indicate that by 2050, most Europeans will be in the 60–64 age range. Consequently, it is predicted that in European countries, the old-age reliance ratio—that is, the percentage of persons over 65 among 100 people of working age—will increase dramatically. Thirty-three percent of Europeans 65 years of age and older reported having mobility impairments or other long-term disabilities in 2019.
Opportunity: Increasing demand for a diverse range of healthcare workforce
Europe has a rapidly aging population, leading to an increased demand for healthcare services, particularly in the elderly care sector. As people age, they often require specialized care and support for various health conditions and age-related issues. The elderly population tends to have diverse and complex healthcare needs, including chronic diseases, mobility issues, and cognitive impairments. Addressing these needs requires a diverse healthcare workforce with skills and expertise in various medical and caregiving domains. The elderly population in Europe is diverse, with individuals from various cultural backgrounds and languages. A diverse healthcare workforce is essential to provide culturally competent care, ensuring that services are tailored to the unique preferences and requirements of each individual.
Impact of Geopolitical Tensions on Europe Elderly Care Services Market
Growing geopolitical tensions could be detrimental to the nation's elderly care services industry, particularly in Europe. Europe's strategic value has shifted as a result of its growing geopolitical relevance, which could have an impact on the elderly care services sector. The country's growing influence and power in border disputes with neighbouring countries, such China, may affect the investment climate and regulatory framework for the elderly care services industry. Furthermore, the European market for elderly care services may be impacted by geopolitical risks to the global economy, as evidenced by several nations' tougher restrictions on trade and international investment. Government initiatives and policies also have an impact on the elderly care services industry.
Europe Elderly Care Services Market
Europe Elderly Care Services Market - By Application
Based on application, the Europe Elderly Care Services Market is segmented into respiratory diseases, diabetes, osteoporosis, heart diseases, neurological diseases, kidney diseases, arthritis and cancer. Because diabetes is a chronic health disease that has been on the rise internationally, including in Europe, the diabetes category is expected to hold a large proportion of the Europe Elderly Care Services Market during the forecast period. Since diabetes is more common in older people, there are an increasing number of elderly people with diabetes in Europe due to the ageing population. Because people with diabetes frequently need specialised care and support, diabetes can have a considerable impact on the market for elderly care services.
The Europe Elderly Care Services Market is fragmented, with numerous players serving the market. The key players dominating the Europe Elderly Care Services Market include Korian, DomusVi, Colisée, Koninklijke Philips N.V. , Medtronic, ORPEA GROUPE, Right at Home, LLC, Home Instead, Inc. , Lottie, Smart, Plentific. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Europe Elderly Care Services Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Europe Elderly Care Services Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Europe Elderly Care Services Market, By Type (Pharmaceuticals, Housing & Assistive Devices), By Service Type (Adult Day Care, Institutional Care and Home Care), By Service Provider (Private and Public), By Application (Respiratory Diseases, Diabetes, Osteoporosis, Heart Diseases, Neurological Diseases, Kidney Diseases, Arthritis and Cancer), By Country (Germany, United Kingdom, Italy , France, Spain, Belgium, Russia, The Netherlands and Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
Publish Date: January 2024
Europe has a rapidly aging population, with a significant increase in the number of elderly individuals. Advances in healthcare, nutrition, and overall living conditions have contributed to a longer life expectancy. With aging comes an increased likelihood of chronic diseases and conditions that require ongoing care are expected to drive the growth of the Europe Elderly Care Services Market during the forecast period between 2024 and 2030.
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