Adoption & Child Welfare Services in the US - Industry Market Research Report

Adoption & Child Welfare Services in the US - Industry Market Research Report

Adoption & Child Welfare Services in the US

Adoption and child welfare services companies are predominately nonprofit, providing local, traditionally in-person services. Since service provision is labor intensive, requiring skilled employees, average profit margins are thin. Numerous regulations act as a small barrier, but changes in technology, made more commonplace during COVID-19, have brought some changes, evidenced by the growth in establishments. New ways to provide services and reach clients (telehealth, mobile apps, social sites) offer opportunities to expand geographically. Online matching platforms, VR training systems and case management software are examples of how technology reduces costs and differentiates services to incentivize niche entry into underserved markets. Due to growth in the number of firms and COVID-19 support, industry-wide revenue has grown at a CAGR of 2.8% to $24.7 billion over the five years to 2023, when revenue will dip an estimated 0.9%.

This industry includes nonresidential social assistance services for children and young adults. Private sector and nonprofit establishments in this industry offer services in the areas of adoption, foster care placement, drug prevention, guidance and self-help, life skills training and positive social development. This industry excludes orphanages and group homes, day-care services, youth recreational sports centers, sports teams and leagues and scouting organizations.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.