Data Bridge Market Research analyses that the Aisa Pacific elderly care market which was USD 832.8 billion in 2021, would rocket up to USD 1268.43 billion by 2029, and is expected to undergo a CAGR of 5.40% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Asia-Pacific Elderly Care Market Analysis and Insights
Elderly care is referred to as senior care, which includes meeting all the requirements of senior citizens at different stages. It includes products and services that make the daily activities of aged people simple and easy. The need for elderly care increases with the growing age as aged people require physical as well as emotional assistance to lead a productive, healthy, and independent life. Eldercare services include assisted living, adult day care, long-term care, short-term care, hospice, and home care.
Asia-Pacific Elderly Care Market Dynamics
Increasing Number of Diseases in Aged People
The rising number of various diseases such as diabetes, cardiovascular diseases, obesity, cancer, osteoporosis, and dental diseases has increased. These diseases can be prevented with proper treatment, diet, and nutrition, along with proper suggestions from doctors. But in recent times, the treatment can also be taken by sitting at home with the help of home healthcare services in which one does not need to visit hospitals.
Rapid Increase in Geriatric Population
The rapid increase in aged population increases the demand for elderly care products and services. The aged people suffers from various health issues which increases the demand for home healthcare to provide a better treatment among patients.
Upsurge in Technological Advancements
The increase in technological advancements, including the development of robots to assist elderly people in day-to-day work and others, will create immense opportunities for the growth of the market. Additionally, an increase in the number of investments raised by healthcare service providers to enhance the services and technology for elderly care will create future opportunities for the market.
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High Prices Associated with Elderly Care Services and Products
People prefer long-term eldercare services over short-term services. The high cost of services and products makes it difficult for the family to avail themselves. Expenditure of elder care is rising with an increase in age.
This Asia-Pacific elderly care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Asia-Pacific elderly care market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Asia-Pacific Elderly Care Market
The COVID-19 has affected the market to some extent. Due to lockdown, the admission of elderly was halted as well as the demand from the health care services also decreased, which has affected the market. Post-COVID, the demand for elderly care is increased due to changes in regulations and preventive measures, and others.
In June 2021, according to TechCrunch, Webrock Ventures and Helathforce partnered to launch telehealth products in South Africa. The new venture has not been given a name yet, and the main focus is to offer on-demand and scheduled consultations to the patients with nurses, mental health professionals, and practitioners. The venture has closed a USD 3 million pre-Series A round
In April 2021, according to TechCrunch, Quro Medical, a health tech startup in South Africa that offers home services to manage ill patients in their homes to provide them the utmost comfort as well as to reduce the risk of infection, had closed a USD 1.1 million round investment. The round was led by Enza Capital and Mohau Equity Partners. The company aims to provide acute patient care at home to improve the patient experience
Asia-Pacific Elderly Care Market Scope
The Asia-Pacific elderly care market is segmented into product type, service, application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Housing and assistive devices
Based on product type, the Asia-Pacific elderly care market is segmented into pharmaceuticals and housing and assistive device.
Adult Day Care
Based on service, the Asia-Pacific elderly care market is segmented into institutional care, homecare, and adult day care.
On the basis of application, the elderly care market is segmented into heart diseases, cancer, kidney diseases, diabetes, arthritis, osteoporosis, neurological, respiratory, and others.
Asia-Pacific Elderly Care Market Regional Analysis/Insights
Asia-Pacific elderly care market is analyzed, and market size insights and trends are provided by country, product type, service, and application.
The countries covered in the Asia-Pacific elderly care market report are China, Japan, India, South Korea, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific.
China is expected to dominate the Asia-Pacific elderly care market during the forecast period owing to the rapid increase in the aged population that ultimately increases the demand for elderly care products and services.
The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Elderly Care Market Share Analysis
The Asia-Pacific elderly care market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies’ focus on the Asia-Pacific elderly care market.
Some of the major players operating in the elderly care market are Koninklijke Philips N.V., Medtronic, ORPEA GROUPE, Right at Home, LLC, Home Instead, Inc., BAYADA Home Health Care, among others.
Key Pointers Covered in This Market Research Report:
Market New Sales Volumes
Market Replacement Sales Volumes
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Healthcare Outcomes
Market Cost of Care Analysis
Regulatory Framework and Changes
Prices and Reimbursement Analysis
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
This Report Consists of:
▪ No of pages: 350
▪ No of Figures: 60
▪ No of Tables: 220
Objectives of the Report
To carefully analyze and forecast the size of the market by value and volume.
To estimate the market shares of major segments of the
To showcase the development of the market in different parts of the world.
To analyze and study micro-markets in terms of their contributions to the market, their prospects, and individual growth trends.
To offer precise and useful details about factors affecting the growth of the
To provide a meticulous assessment of crucial business strategies used by leading companies operating in the market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
Destinations of This report:
1. To make accessible the wide-going outline of the market.
2. To accomplish the data about the central members in this industry, their item portfolios, and their key techniques.
3. To know about the future standpoint and possibilities for this market investigation and figure 2022-2029.
4. To dissect the market size of the market so that understanding the critical patterns from it gets simple.
5. To look at the market dependent on item, portion of the overall industry, and size of the item share.
6. To dissect possibilities or openings on the lookout for partners by realizing the high-development fragments of the market.
7. To increase bits of knowledge about the major provincial experiences in which the is prospering.
8. To accomplish delineations and gauge the market, as far as worth, by process, item type, and industry.
9. To strategically diagram the central parts and exhaustively dissect their market position as far as positioning and center capabilities, and detail the cutthroat scene for market pioneers.
10. To portray and estimate the market, as far as worth, for different fragments, by area North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
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