DUBLIN--(BUSINESS WIRE)--The "Adult Day Care Market Size, Share & Trends Analysis Report By Funding (Private, Public), By Service (Adult Social Day Services, Adult Day Healthcare Services, Specialized Day Care Services), By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global adult day care market size is expected to reach USD 24.8 billion by 2030 and is projected to register a CAGR of 5.10% from 2023 to 2030
The market's growth can be attributed to the rapidly growing geriatric population globally, majorly in the Asia Pacific region. This demographic transition has increased the demand for Home and Community-based Care (HCBC) globally and specifically in the region. According to the Asian Development Bank (ADB), the population aged 65 years and above is expected to increase by 2.5-fold from 2020 to 2050.
Furthermore, Adult Day Care (ADC) providers offer innovative and specialized services for patients with special needs, including Alzheimer's patients and Autism patients. Hence, government organizations are partnering with these institutions to improve the health services for these patients. For instance, in March 2023, the California Department of Aging (CDA), U.S., and ADC centers in the state partnered with the researchers at UC Davis's Betty Irene Moore School of Nursing to improve the health of dementia patients.
The COVID-19 pandemic negatively impacted the market as many ADC providers suspended their operations in response to the outbreak. The primary reason was to curb the spread of the pandemic among this population cohort, as these populations were at high risk of developing serious conditions.
The Ministry of Health Japan reported the suspension of operations by around 909 ADC service providers in Japan in April 2020. However, these centers have slowly resumed operations to reduce the burden on home service providers and cater to the growing demand from dementia patients. According to the article published in the Springer Journal in February 2023, 81 dementia day care centers in Italy responded to surveys of 470 centers, and among them, around 53 centers resumed their operations in April 2021.
Adult Day Care Report Highlights
- Based on the funding, the public segment held the largest market share in 2022 owing to the growing number of non-profit ADC providers and increasing investment by the government to offer specialized services
- Based on the services, the specialized day care services segment dominated the market in 2022 owing to the growing demand from patients in need of specialized care, such as Alzheimer's patients
- Based on the region, the North America region held the largest market share in 2022 owing to the presence of a large number of ADC providers and growing investment for long-term care in the region
- The market is highly fragmented in nature, with the presence of small-scale businesses offering daytime services. The majority of these providers are non-profit and are associated with government or public institutions
- The adoption of these services is rapidly growing as these services are more affordable than other HCBC services. Moreover, these centers offer specialized services and support activities of daily living for disabled patients, which are the factors rendering its adoption globally
Competitive Landscape: Overview, Financial Performance, Service Benchmarking, Strategic Initiatives
- Adult Life Programs, Inc.
- Active Day/Senior Care, Inc.
- Ascension Living Saint Joseph Village Adult Day Center
- CCACC Joyful Day Care Center
- Age U.K.
- Care Futures
- GerHogar
- Deutsches Altenheim
- Badisa
-
Grace Adult Health Car
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Dynamics
3.1.1. Market Driver Analysis
3.1.2. Market Restraint Analysis
3.2. Industry Analysis Tools
3.2.1. Porter's Five Forces Analysis
3.2.2. PESTLE Analysis
3.3. COVID-19 Impact Analysis
Chapter 4. Adult Day Care Market: Funding Estimates & Trend Analysis
4.1. Segment Definitions
4.2. Adult Day Care Market: Funding Segment Dashboard
4.3. Adult Day Care Market: Funding Movement & Market Share Analysis
4.4. Private
4.5. Public
Chapter 5. Adult Day Care Market: Services Estimates & Trend Analysis
5.1. Segment Definitions
5.2. Adult Day Care Market: Segment Dashboard
5.3. Adult Day Care Market: Services Movement & Market share Analysis
5.4. Adult Social Day Services
5.5. Adult Day Healthcare Services
5.6. Specialized Day Care Services
Chapter 6. Adult Day Care Market: Regional Estimates & Trend Analysis
6.1. Adult Day Care Market: Regional Movement Analysis, 2022 & 2030
For more information about this report visit https://www.researchandmarkets.com/r/n7wqf0
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