The Elder Care Market: Products and Services

Published - Jun 2009| Analyst - Peggy Lehr| Code - HLC062A
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Report Highlights

  • The U.S. eldercare market was worth $279.2 billion in 2008 and an estimated $316.9 billion in 2009. This should reach $447.4 billion in 2014, for a compound annual growth rate (CAGR) of 7.1%.
  • The healthcare segment has the largest share of the market, worth $146.4 billion in 2008 and an estimated $172.2 billion in 2009. This should increase at a CAGR of 9.1% to reach $266.8 billion in 2014.
  • The housing segment has the second-largest market share, generating $127.4 billion in 2008. This segment is expected to reach $138.7 billion in 2009 and $171.5 billion in 2014, for a CAGR of 4.3%.

INTRODUCTION 

STUDY GOALS AND OBJECTIVES
 
The aim of this study is to provide an in-depth analysis and forecast of the eldercare market. The focus is on scope of the market, including demographic implications; funding implications; products and services currently available; and research regarding future treatments, including pharmaceuticals, diagnostics, and therapies. Opportunities for growth of each market segment, as well as specific products or services within each market, are discussed.
 
REASONS FOR DOING THE STUDY
 
The baby boomer generation, those born between 1946 and 1964, will have a profound effect on the products and services offered to an aging generation that is expected to be the largest in recent history. This burgeoning market will create challenges and opportunities for governments, individuals, and the marketplace as each struggles with the needs and wants of this generation. Outlining the impact of the generation and the opportunities available for well-positioned companies are the primary focuses of this report.
 
INTENDED AUDIENCE
 
This study provides a broad background on the structure of the eldercare healthcare market and the chief issues it faces. It offers the information needed to understand the current market and to address the emerging one. 
 
This is an invaluable tool for business planners, acquisitions specialists, licensing strategists, product managers, market research analysts, investor consultants, and others interested in the eldercare market, its products, participants, and future. 
 
SCOPE OF REPORT
 
This report offers forecasts by product segment from 2009 through 2014, including supporting analyses for projections. 
 
Report segments include a demographic background of the market in the U.S. and worldwide, healthcare products and services, housing services and needs, and assistive technologies for this market. International markets are discussed, and information is provided on industry structure.
 
Profiles of leading companies involved with eldercare are provided. Information on company placement within the market and strategic analyses of the company’s available and emerging products is discussed. 
 
METHODOLOGY
 
The primary data collection methodology for this report focused on an extensive literature review of medical and governmental sources; information from industry representatives; U.S. government data; industry professional organizations; and company reports.
 
INFORMATION SOURCES
 
Information for this report was obtained from industry analysts; the Center for Medicare and Medicaid Services (CMS), National Institutes of Health (NIH), National Institutes on Aging, Agency on Health Care Policy and Research, the Centers for Disease Control (CDC), and other government agencies; the American Hospital Association; The Gerontological Society of America; Alzheimer’s Association; American Heart Association; American Lung Association; American Medical Association; the Pew Charitable Trusts; The World Health Organization; American Association of Retired Persons; American Healthcare Association; Kaiser Family Foundation; Robert Wood Johnson Foundation; National Alliance for Caregiving; The Commonwealth Fund; industry experts; literature searches; company annual reports and 10Ks; and product literature.
 
AUTHOR CREDENTIALS
 
Peggy S. Lehr is the BCC Research analyst of this report. She has worked with for-profit and not-for-profit organizations, and she specializes in marketing reports on the medical industry. Previous reports for BCC include Medical Diagnostic Kits, Organ and Tissue Transplantation, and Trends in Pediatric Care.
 
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DISCLAIMER
 
The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or from its use.



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