Global Adult Day Care Market Analysis Report 2023: Specialized Day Care Services Shine with Focus on Alzheimer's and Specialized Patient Care - Forecast to 2030
Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- 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 is poised for remarkable growth, anticipated to reach a substantial valuation of USD 24.8 billion by the year 2030. This projected growth indicates a robust compound annual growth rate (CAGR) of 5.10% during the period from 2023 to 2030.
A significant driving force behind this expansion is the escalating global elderly population, particularly concentrated in the Asia Pacific region. This demographic shift has triggered a surge in demand for Home and Community-based Care (HCBC), creating a favorable landscape for the adult day care sector. The Asian Development Bank (ADB) projects a twofold increase in the population aged 65 and above between 2020 and 2050.
Adult Day Care (ADC) providers are playing a pivotal role by delivering innovative and specialized services, catering to patients with unique requirements like Alzheimer's and Autism patients. Collaborative efforts between these providers and governmental organizations are boosting healthcare services for such individuals.
For example, a notable partnership emerged between the California Department of Aging (CDA) and ADC centers in the state, joined by researchers at UC Davis's Betty Irene Moore School of Nursing in a bid to enhance the well-being of dementia patients, showcasing the commitment to specialized care.
However, the adult day care sector encountered setbacks due to the COVID-19 pandemic, which prompted temporary shutdowns by several providers to protect vulnerable populations. Japan's Ministry of Health reported a suspension of operations by nearly 909 ADC service providers in April 2020. Fortunately, gradual resumptions followed as these centers responded to the demand from dementia patients and aimed to alleviate the burden on home service providers.
Breaking down the industry further, the funding landscape plays a pivotal role. The public segment emerged as the leader in 2022, fueled by the growth of non-profit ADC providers and increased governmental investments in specialized services. This reflects a commitment to improved care delivery.
Specialized day care services also emerged as a dominant force in 2022, answering the growing demand for tailored care, notably for patients grappling with Alzheimer's disease. Furthermore, the North American region claimed a significant market share in 2022, boasting a high concentration of ADC providers and marked investments in long-term care.
The market itself is characterized by fragmentation, with a multitude of small-scale businesses offering daytime services. Notably, the majority of these entities operate as non-profits, often associated with governmental or public institutions, reflecting a commitment to community welfare.
This landscape echoes the growing adoption of these services, underscored by affordability compared to other HCBC options. The provision of specialized services and daily living support for disabled patients has been pivotal in propelling the global adoption of these services.
*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 Attributes:*
*Report Attribute* *Details*
No. of Pages 168
Forecast Period 2022 - 2030
Estimated Market Value (USD) in 2022 $16.5 Billion
Forecasted Market Value (USD) by 2030 $24.8 Billion
Compound Annual Growth Rate 5.1%
Regions Covered Global
*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/7unarj
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*Attachment*
· Global Adult Day Care Market
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