Europe Elderly Care Services Market, By Service Type (Home-Based Care, Community-Based Care, Institutional Care), By Service Provider (Public, Private), By Country, Competition Forecast & Opportunities, 2028

Europe Elderly Care Services Market, By Service Type (Home-Based Care, Community-Based Care, Institutional Care), By Service Provider (Public, Private), By Country, Competition Forecast & Opportunities, 2028

Europe elderly care services market is anticipated to observe impressive growth during the forecast period 2024-2028. The growing geriatric population, along with the increasing incidence rate of chronic diseases such as dementia, and Alzheimer’s, among others, are augmenting the growth of the market. According to Eurostat, more than one-fifth of the EU population was aged 65 or over in 2020, which represents an overall 3% increase than that from 2010. Elderly care services are services that are provided to senior citizens to cater to their psychological and social needs. These services help in battling several complexities faced by elderly age people. The other factors supporting the market’s growth are increasing demand for home care services for elderly people, an increase in healthcare expenditure, and rising emphasis on maintaining and improving the physical and functional health of the elderly population, among others.

Rise in the Prevalence of Dementia

Growing incidences of dementia among the elderly population in the country are strengthening the growth of the market. The incidence of dementia rises rapidly with age. The most common form of dementia is Alzheimer’s disease, which represents about 60% to 80% of cases in Europe. In 2018, an estimated 9.1 million people aged over 60 were living with dementia in European member states, up from 5.9 million in 2000. The overall number of people living with dementia in European countries is expected to rise by about 60% over the next two decades to reach 14.3 million in 2040, with the oldest people. Therefore, the need for elderly care services is surging as the number of elderly patients suffering from dementia is rising, which, in turn, supports the growth of the market.

The surge in Demand for Home Care Services

The rapid rise in the demand for home care services by the aging population is facilitating the growth of the market. The geriatric population finds at-home-care services more suitable for their well-being and lifestyle, as they suffer from several health issues, which in turn fuels the growth of the Europe elderly care services market. The rising demand for home care services is because it provides elders to have a sense of comfort and independence, which offers them peace of mind.

Increasing Aging Population Encourages the Market Growth

The rise in the elderly population base in the country is aiding the growth of the market. Elderly populations are more susceptible to various diseases such as orthopedics, neurological, and cardiovascular, among others, due to which there is a rise in demand for elderly care services. Also, the old age generation suffers from several health issues with the rising age, which in turn is expected to drive the growth of the Europe elderly care services market. For instance, according to Eurostat, in 2019, there were 90.4 million people aged 65 years and above living in the EU. Out of these, 39.7 % were residing in intermediate regions, 38.2 % in urban regions, and 22.1 % in rural regions.

Recent Developments

• In 2020, the elderly care tech platform Birdie received USD11.5M Series A led by Index. The Caretech Birdie aims to provide more personalized as well as more preventative care, due to which senior citizens can get older at home longer, happier, and healthier.
• Owing to the overloaded work on care staff, SARA (Social & Autonomous Robotic Health Assistant), an innovation started by the robotic system, is used as a support for care staff which improves elderly care in hospitals and nursing homes. SARA will help in addressing the shortage of carers is putting serious pressure on nursing homes and hospitals across Europe.

Market Segmentation

The Europe elderly care services market is segmented into service type, service provider, country, and company. Based on service type, the market is categorized into home-based care, community-based care, and institutional care. Based on the service provider, the market is divided into public and private. In terms of countries, the market is segmented into France, Germany, United Kingdom, Italy, Spain, Finland, Greece, Portugal, Bulgaria, and Croatia.

Market Players

Korian Group, Orpea Group, DomusVi SAS, Groupe Colisée, HC-One Ltd, Alloheim Senioren-Residenzen GmbH, KOS Group, Victor’s Group, EMVIA LIVING Group, and Emera Group are some of the leading companies operating in the market.

Report Scope:

In this report, Europe elderly care services market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

• Europe Elderly Care Services Market, By Service Type:
• Home-Based Care
• Community-Based Care
• Institutional Care
• Europe Elderly Care Services Market, By Service Provider:
• Public
• Private
• Europe Elderly Care Services Market, By Region:
• France
• Germany
• United Kingdom
• Italy
• Spain
• Finland
• Greece
• Portugal
• Bulgaria
• Croatia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present Europe elderly care services market

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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