Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Europe Home Care & Assisted Living Market, By Service Type, By Service Provider, By Country, Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
Europe's home care & assisted living market is poised for impressive growth in the forecast period from 2024 to 2028
The increasing prevalence of various chronic conditions such as neurological disorders, cancer, and diabetes is expected to drive the demand for home care & assisted living services in Europe.
The aim of home care & assisted living is to enable individuals to remain in their homes while receiving proper care and assistance in their daily lives. This may include healthcare services and life assistance, encompassing wound care, medical treatment, pain management, therapy, and medication reminders, among other provisions.
Additionally, factors such as an increase in life expectancy, growing awareness about home care and assisted living services, a rise in healthcare expenditure, and greater awareness of geriatric care devices are all contributing to the market's growth in the region.
Rising Incidence of Neurological Disorders
Growing incidences of neurological disorders such as paralysis, dementia, post-traumatic disorders, and others among the masses in the region are bolstering the growth of the market. The incidence of dementia rises rapidly with age.
The rising number of people suffering from neurological disorders require assistance, due to which they need home care services. According to the NHS, in the United Kingdom, research indicates that there are over 850,000 people who have dementia. One in 14 individuals aged 65 and above has dementia, and the disorder affects 1 in 6 people over the age of 80.
The number of people with dementia is increasing because people are living longer. It is expected that the number of people suffering from dementia in the United Kingdom will be over 1 million in 2025. Therefore, demand for home care and assisted living are surging, which, in turn, bolsters the growth of the market.
The surge in Demand for Home Care Services
Change in lifestyle has expanded the array of home care service offerings, such as nursing care, home care, among others. Also, the rising awareness among the younger generation as well as the elderly population is surging the demand for home care and assisted living.
Owing to the prevalence of various diseases, people are opting for home care services as these services are more suitable for their wellbeing and lifestyle, and also, these services provide a sense of comfort and peace of mind to elders.
Also, the rising geriatric population is facilitating the use of home care services and assisted living as they suffer from one or more health conditions, which, in turn, facilitates the growth of the market.
Recent Developments
Medtronic's Integrated Health Solutions (IHS) has 170 ongoing long-term partnerships in 24 nations across Europe (such as Italy, the Netherlands, and the U.K.) and the Middle East, offering value to health care organizations and supporting the offering of high-quality service at home at a lower price.
In the United Kingdom, Elderly Care is an essential healthcare alternative for senior citizens; it has recently raised about USD10 million of capital to offer improved home care to the aging generation. MMC Ventures, an investor of Elder, supported the initiative. This entity aims to solve the 'social care crisis' that has cropped up.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present Europe home care & assisted living market
- Mears Group PLC
- Heritage Independent Living Ltd.
- Ashfield Healthcare Gmbh
- Bayada Home Health Care
- AB Care (European Service LLC)
- Korian Group
- Buurtzorg Nederland
- Legrand Group Espana, S.L.
- Orpea Group
- DomusVi SAS
Report Scope:
Europe Home Care & Assisted Living Market, By Service Type:
- Rehabilitation Services
- Nursing Services
- Personal Care Services
- General Well-Being Services
- Others
Europe Home Care & Assisted Living Market, By Service Provider:
- Public
- Private
Europe Home Care & Assisted Living Market, By Country:
- France
- Germany
- United Kingdom
- Italy
- Spain
- Finland
- Belgium
- Portugal
- Denmark
- Netherlands
For more information about this report visit https://www.researchandmarkets.com/r/5zbu2g
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