Elderly Care Services Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 1.20 Billion |
| Market Size (2030) | USD 1.67 Billion |
| CAGR (2025 - 2030) | 6.90% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Americas |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Elderly Care Services Market Analysis
The Elderly Care Services Market size is estimated at USD 1.20 billion in 2025, and is expected to reach USD 1.67 billion by 2030, at a CAGR of 6.90% during the forecast period (2025-2030).
Elderly care services provide essential support to help seniors live independently and comfortably. These services include home care, adult care, and institutional care. The market is driven by an aging population, rising chronic diseases, and growing demand for personalized care. Advances in healthcare and increased life expectancy have expanded the elderly’s demographic, fueling the need for comprehensive solutions. The shift toward home-based care, supported by telehealth and remote monitoring, boosts growth. Government initiatives and funding further enhance care infrastructure, improving accessibility and quality, driving market expansion.
The growing geriatric population coupled with rising prevalence of chronic conditions such as cancer, diabetes, cardiovascular diseases, and musculoskeletal disorders are significantly boosting the demand for elderly care services. For example, the American Diabetes Association reported in December 2023 that over 25% of individuals aged 65 and above have diabetes, while nearly 50% are prediabetic. These statistics highlight the critical need for specialized care services tailored to aging individuals. The elderly care services market is poised for growth as healthcare needs among the aging population continue to escalate.
Similarly, as of May 2024, the National Council on Aging highlighted that 94.9% of individuals aged 60 and above live with at least one chronic illness, while 78.7% face two or more. Furthermore, obesity impacts 42% of this demographic, increasing the likelihood of heart disease, type 2 diabetes, and certain cancers. These health challenges underscore the growing demand for comprehensive elderly care services to ensure a better quality of life and independent living for seniors.
Furthermore, the elderly care services market witnessed growing demand due to a shift toward home-based care. This trend reflects the need for personalized solutions to support independent living for seniors. In June 2024, Malaysia prepared for a demographic change, with 15% of its population projected to be 60 years or older by 2030. The Social Welfare Department of Malaysia prioritized community and family-based care over expanding elderly care centers. This approach highlighted the increasing focus on personalized and home-oriented care solutions. Such trends underscored the evolving preferences in the elderly care services market, emphasizing the need for adaptable and sustainable care models to meet future demands effectively.
Moreover, government initiatives and funding are significantly driving the growth of elderly care services by enhancing care accessibility and quality. For example, in January 2024, Governor announced a USD 2.5 million initiative in Maine, United States, to support older adults and caregivers. This program, led by the Governor’s Cabinet on Aging, aims to connect seniors and caregivers to community resources through statewide navigator programs. Funded by the American Rescue Plan Act, this initiative highlights the increasing focus on improving elderly care infrastructure, fostering market growth, and ensuring better support for aging populations.
Henceforth, the above-mentioned factors, such as the rising prevalence of chronic diseases coupled with the aging population, shift toward home-based care, and increasing government initiatives for elderly care services, are anticipated to stimulate the market’s growth over the forecast period.
However, the high cost of services, coupled with the lack of skilled professionals and limited access in rural areas, are key factors limiting market growth.
Elderly Care Services Market Trends
Nursing Homes Segment is Expected to Witness Significant Growth Over the Forecast Period
The nursing homes segment is projected to experience substantial growth during the forecast period within the elderly care services market. This growth is driven by the rising aging population, increasing prevalence of chronic illnesses, and the growing need for specialized care facilities. Additionally, advancements in healthcare infrastructure and supportive government policies further bolster the demand for nursing homes. The nursing homes ability to provide comprehensive medical and personal care tailored to elderly needs positions it as a critical component of the market, ensuring steady growth in the coming years.
The rising aging population and increasing prevalence of chronic diseases are key drivers for the growth of nursing homes segment. These facilities provide specialized care, including round-the-clock medical attention and assistance with daily activities, catering to the needs of elderly individuals with complex health conditions. According to the National Diabetes Statistics Report of May 2024, 38.4 million people in the United States have diabetes, with many requiring long-term cares. Nursing homes play a vital role in offering structured care environments, ensuring safety, and improving the quality of life for elderly residents.
Similarly, the American Cancer Society's January 2024 report estimated 2,001,140 new cancer cases and 611,720 cancer-related deaths in the United States this year. This highlights the growing need for nursing homes to provide specialized care. These facilities are crucial in offering personalized rehabilitation and palliative services, addressing the unique needs of cancer patients. With a rising elderly population and increasing prevalence of chronic diseases, nursing homes are becoming indispensable for long-term care, ensuring better quality of life and comprehensive support for individuals during treatment and recovery phases.
Furthermore, advancements in technology, particularly the integration of artificial intelligence and telehealth, are propelling growth in nursing homes. For example, Australia has set to launch virtual nursing for aged care in September 2024, aiming to improve healthcare accessibility. The Department of Health and Aged Care has initiated reforms by introducing telehealth services for aged care residents. A tender has been issued to identify providers for virtual nursing solutions across 30 residential facilities. These developments highlight the increasing reliance on innovative technologies to enhance care quality and efficiency in nursing homes globally.
Moreover, expanding dementia-specific respite care is emerging as a key growth driver for nursing homes. For instance, in July 2024, the Alzheimer’s Association Center for Dementia Respite Innovation (CDRI) allocated over USD 4 million in grants to 21 community-based providers to expand dementia-specific respite care. This initiative, in collaboration with the University of Minnesota School of Public Health, is part of a five-year, USD 25 million program aimed at supporting over 11 million dementia caregivers nationwide. By enhancing respite services in nursing homes and other care settings, this effort ensures caregivers receive temporary relief while patients continue to receive quality, person-centered care, fostering better outcomes for both caregivers and residents.
The abovementioned factors, an ageing population coupled with increasing prevalence of chronic diseases, technological advancement and expanding dementia-specific respite care are anticipated to accelerate segmental growth over the forecast timeline.
North America is Expected to Dominate the Elderly Care Services Market
North America is expected to dominate the elderly care services market, primarily due to the growing aging population, increased prevalence of chronic diseases, and rising demand for home-based care solutions. Additionally, advancements in healthcare infrastructure and supportive government policies, such as Medicare and Medicaid, further drive the market's growth in the region. The focus on improving the quality of life for the elderly and the availability of skilled caregivers also contribute significantly to this expansion.
The market in the region is primarily stimulated by the growing aging population and the increasing burden of chronic diseases. For instance, as per a June 2024 report by the United States Centers for Disease Control and Prevention, nearly 25% of the United States population will be aged 65 or older by 2060. This demographic shift significantly elevates the prevalence of conditions like dementia, heart disease, diabetes, arthritis, and cancer. Consequently, the demand for home care services is surging, positioning them as a critical solution to meet the region's evolving healthcare needs.
Additionally, government initiatives such as Medicare and Medicaid are key drivers for the growth of elderly care services in North America. For example, in October 2024, the United States Vice President introduced a groundbreaking Medicare at Home benefit aimed at addressing caregiving needs and enhancing Medicare. This plan includes home care coverage for seniors and individuals with disabilities on Medicare, along with vision and hearing benefits. These measures are designed to promote independent living among the elderly. Such supportive policies are significantly boosting the demand for elderly care services across the region, ensuring better care and accessibility.
Similarly, in June 2024, Canada launched pilot programs to address caregiver shortages, offering permanent residency to home care workers upon arrival. These programs also enable caregivers to work with organizations providing part-time or temporary care for seniors recovering from illnesses. By ensuring stable employment and residency, these measures strengthen the home care sector. Such initiatives are pivotal in meeting the rising demand for quality care services across the region, fostering sustainable market growth.
Moreover, the presence of major key players with their driven by the strategic initiatives are anticipated to accelerate the regional growth. For instance, in January 2023, Genesis Healthcare Inc. announced a significant expansion by adding 34 nursing homes in Pennsylvania to its existing 15 facilities and assuming management of four in Colorado. This move represents the company’s largest growth since transitioning to a market-focused care model. Such expansions and investments by leading players underscore the region's strong growth trajectory, meeting the rising demand for comprehensive elderly care services.
Henceforth, the increasing geriatric population, coupled with the rising prevalence of chronic diseases, the presence of major key players, and government initiatives, are expected to fuel regional growth.
Elderly Care Services Industry Overview
The elderly care services market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold significant market share and are well known, including Knight Health Holdings, LLC (Kindred Hospitals), Sunrise Senior Living, Genesis HealthCare, Home Instead, Inc., Brookdale Senior Living Inc., EXTENDICARE, Gentiva, Lifebridge Senior Care Private Limited, ECON Healthcare Group, St Luke’s ElderCare Ltd., among others.
Elderly Care Services Market Leaders
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Sunrise Senior Living
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Genesis HealthCare
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Home Instead, Inc.
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Brookdale Senior Living Inc.
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EXTENDICARE
- *Disclaimer: Major Players sorted in no particular order
Elderly Care Services Market News
- November 2024: Extendicare Inc. signed an agreement with Revera Inc. and its affiliates to acquire nine Class C long-term care homes in Ontario and Manitoba, along with a vacant land parcel in Ontario. These acquisitions include 1,396 beds, with seven homes offering a mix of 361 funded LTC beds and 574 private-pay retirement beds. The company plans to redevelop the Class C LTC beds into six new homes, adding 361 replacement beds and 727 new beds. Additionally, the 250-bed Class C Carlingview Manor in Ottawa is being redeveloped into a new LTC home through a joint venture with Axium.
- November 2023: Gentiva announced the completion of its acquisition of ProMedica’s home health, palliative, and hospice business after securing all necessary state and federal approvals. The combined entity aims to enhance access to hospice and home care services by leveraging Gentiva’s expertise in caregiver recruitment, retention, and patient care solutions.
Elderly Care Services Industry Segmentation
As per the scope of the report, elderly care services encompass a wide range of support aimed at addressing the physical, emotional, and social needs of older adults. These services are tailored to assist individuals who may face challenges due to aging, chronic health conditions, or difficulties in performing daily activities. They include medical care, personal assistance, companionship, and specialized programs to enhance the quality of life for seniors. By focusing on independence and comfort, elderly care services play a crucial role in ensuring the well-being and dignity of the aging population in various settings.
The elderly care services market is segmented into service type, sector, and geography. By service type, the market is segmented into home care, adult care, and institutional care. By sector, the market is segmented into public and private. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa. The report also offers the market size and forecasts for 17 countries across the region. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).
| By Service Type | Home Care | |||
| Adult Care | ||||
| Institutional Care | Assisted Living Care | |||
| Independent Senior Living Care | ||||
| Nursing Homes | Hospice and Palliative Care | |||
| Respite Care | ||||
| Others | ||||
| Hospital Based Care | ||||
| By Sector | Public | |||
| Private | ||||
| Geography | North America | United States | ||
| Canada | ||||
| Mexico | ||||
| Europe | Germany | |||
| United Kingdom | ||||
| France | ||||
| Italy | ||||
| Spain | ||||
| Rest of Europe | ||||
| Asia-Pacific | China | |||
| Japan | ||||
| India | ||||
| Australia | ||||
| South Korea | ||||
| Rest of Asia-Pacific | ||||
| Middle East and Africa | GCC | |||
| South Africa | ||||
| Rest of Middle East and Africa | ||||
| South America | Brazil | |||
| Argentina | ||||
| Rest of South America | ||||
| Home Care | |||
| Adult Care | |||
| Institutional Care | Assisted Living Care | ||
| Independent Senior Living Care | |||
| Nursing Homes | Hospice and Palliative Care | ||
| Respite Care | |||
| Others | |||
| Hospital Based Care | |||
| Public |
| Private |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe | |
| Asia-Pacific | China |
| Japan | |
| India | |
| Australia | |
| South Korea | |
| Rest of Asia-Pacific | |
| Middle East and Africa | GCC |
| South Africa | |
| Rest of Middle East and Africa | |
| South America | Brazil |
| Argentina | |
| Rest of South America |
Elderly Care Services Market Research FAQs
How big is the Elderly Care Services Market?
The Elderly Care Services Market size is expected to reach USD 1.20 billion in 2025 and grow at a CAGR of 6.90% to reach USD 1.67 billion by 2030.
What is the current Elderly Care Services Market size?
In 2025, the Elderly Care Services Market size is expected to reach USD 1.20 billion.
Who are the key players in Elderly Care Services Market?
Sunrise Senior Living, Genesis HealthCare, Home Instead, Inc., Brookdale Senior Living Inc. and EXTENDICARE are the major companies operating in the Elderly Care Services Market.
Which is the fastest growing region in Elderly Care Services Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Elderly Care Services Market?
In 2025, the Americas accounts for the largest market share in Elderly Care Services Market.
What years does this Elderly Care Services Market cover, and what was the market size in 2024?
In 2024, the Elderly Care Services Market size was estimated at USD 1.12 billion. The report covers the Elderly Care Services Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Elderly Care Services Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Elderly Care Services Industry Report
Statistics for the 2025 Elderly Care Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Elderly Care Services analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
