Europe Elderly Care Facilities Market Trends, Growth, Share, Revenue, Key Players, Challenges, Future Opportunities and Forecast Till 2033: SPER Market Research
A range of assistance and support services are available to senior citizens in order to enhance their quality of life and address their evolving medical needs. The goal of these programs is to assist seniors in maintaining their independence, social life, and physical well-being as they age. Elder care services often include personal care assistance with daily living activities (such as dressing, grooming, and bathing), medical care coordination, medication administration, companionship, and assistance with household chores. Depending on the specific needs of the elderly person, care services may be offered in a range of settings, such as home care, assisted living facilities, nursing homes, or community-based programs.
According to SPER market research, ‘Europe Elderly Care Facilities Market Size- By Type, By Service Type, By Service Provider, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Elderly Care Facilities Market is predicted to reach USD 119.95 billion by 2033 with a CAGR of 8.14%.
Drivers:
- The incidence of long-term health conditions such as diabetes, heart disease, obesity, cancer, osteoporosis, and dental problems has increased. These illnesses are preventable with good medical guidance, diet, and nutrition, along with the right kind of therapy. But because to advancements in home healthcare, patients may now get care while relaxing in their own homes, doing away with the need for trips to the hospital.
- Furthermore, older care services are driven by the growing number of older people. The need for care businesses has risen due to changes in the social and economic environments. The younger generation is under pressure to balance employment and caring for senior family members as the number of old people rises. Elderly care services are thus required as a result of this.
Challenges:
Insatiable requests for support and attention.
- There is often a greater demand than there is supply for elder care services. Due to restricted availability, which might be brought about by a lack of suitable facilities, insufficient staff, or insufficient funding, many older people’s care needs go unmet. Depending on the location, senior care services may not be as accessible or available. Complete care services may be difficult to deliver, especially in remote regions, leaving older individuals without the help they require.
- The Impact of Increasing Geopolitical Tensions on the European Elder Care Services Market. Increasing geopolitical tensions might be bad for the country’s senior care services sector, especially in Europe.
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Impactof COVID-19 on Europe Elderly Care Facilities Market
The COVID-19 epidemic has had a substantial influence on the senior housing market in Europe. Keeping people safe and healthy has proven to be quite difficult for these institutions since the elderly are more susceptible to the virus. Strict lockdown procedures and social distancing guidelines have interrupted the regular operations of these facilities, limiting access to outside medical assistance and making it more challenging for family members to make payments in person. Due to epidemics that have severely strained healthcare professionals’ and these institutions’ resources, there is an increasing requirement for medical supplies and personal protective equipment (PPE).
Additionally, some of the market key players are Medtronic, ORPEA GROUPE, Right at Home, LLC, Home Instead, Inc. , Lottie, Smart, Plentific.
Europe Elderly Care Facilities Market Segmentation:
By Service Type: Based on the Service Type, Europe Elderly Care Facilities Market is segmented as; Adult Day Care, Institutional Car, Home Care
By Service Provider: Based on the Service Provider, Europe Elderly Care Facilities Market is segmented as; Private, Public.
By Application: Based on the Application, Europe Elderly Care Facilities Market is segmented as; Respiratory Diseases, Diabetes, Osteoporosis, Heart Diseases, Neurological Diseases, Kidney Diseases, Arthritis, Cancer.
By Region: This research also includes data for UK, France, Germany, Italy, Spain, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Europe Elderly Care Facilities Market Size
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