Adult Day Care in the US - Industry Market Research Report

Adult Day Care in the US - Industry Market Research Report

Adult Day Care in the US

The Adult Day Care industry has performed well through 2023. The steadily aging population and vastly costlier alternative long-term care options (like nursing homes, which can cost five times more than adult day care) have fueled demand for adult day care. State and local government budgets have expanded while disposable income has increased, allowing the industry to continue to expand. Federal government healthcare funding is expected to continue growing, with federal funding for Medicare and Medicaid expected to rise sizeable to meet the needs of the growing elderly population. Revenue is estimated to expand at a CAGR of 0.9% to $6.6 billion through 2023. Despite significant disruptions and shutdowns amid COVID-19, industry revenue has continued to grow on account of greater need from the elderly population. In 2023 alone, industry revenue is expected to climb 2.8%.

This industry provides social and basic health assistance, including transportation, meals, personal hygiene and therapeutic activities, to the elderly and individuals with mental or physical disabilities. Services are typically provided during normal business hours through adult care centers. This industry does not include home care.

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."