Elderly & Disabled Services in the US - Industry Market Research Report

Elderly & Disabled Services in the US - Industry Market Research Report

Elderly & Disabled Services in the US

Fueled by an aging population, demand for elderly and disabled services in the US has grown considerably over the past five years. At the same time, growth in per capita disposable income, and the expansion of Medicaid and private health insurance coverage have enabled more individuals and families to afford the cost of care. But demand fell in the aftermath of the COVID-19 pandemic because of the rising cost of living. As a result, the industry has shrunk marginally, with revenue estimated to fall at a CAGR of 0.1% to $64.6 billion over the past five years. Demand remained high despite the COVID-19 pandemic due to the critical nature of services provided by industry care homes. However, because of increased inflation and falling per capita disposable income, industry revenue is expected to rise only 0.4% in 2023 alone. Additionally, industry profit, measured as earnings before interest and taxes, has decreased, from 4.6% of revenue in 2018, to 2.0% in 2023.

This industry provides outpatient social assistance services to improve the quality of life for the elderly, the mentally ill and people with disabilities. Operators provide services in such areas as day care, nonmedical home care or homemaker services, social activities, group support and companionship. The industry does not include companies that primarily provide medical services or companies that provide overnight housing (e.g. retirement homes).

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."