Elder Care Subscription Market Size, Share, Industry Analysis,...

Elder Care Subscription Market Size, Share, Industry Analysis, Future Growth, Segmentation, Competitive Landscape, Trends and Forecast 2021 - 2031

Posted 2022-12-28 13:27:30

113

According to Future Industry Insights, the elder care subscription market will generate US$1.2 billion worldwide in 2020. (FMI). The overall market is anticipated to increase at a CAGR of 16% from 2021 to 2031, reaching around US$ 6.05 billion. As digital innovations make greater inroads, the growth of the elder care subscription market will continue to pick up speed.

Over the forecast period, the worldwide elder care subscription market is anticipated to grow at a CAGR of 16 percent (2021-2031). The ageing population in various nations is a contributing factor in the rise. The market revenue is anticipated to cross US$ 1.3 Bn in 2021, according to the most recent Future Market Insights (FMI) analysis. Due to the rising demand for elder care subscription services, Europe is estimated to account for the greatest part of the global market, with more than 33.1 percent of the market by 2031.

Request for a sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-14118

Key Takeaways from Elder Care Subscription Market Study

· Yearly subscription type will dominate the market through 2031, accounting for 59.7% value share.

· The homecare segment will account for 42.1% of the sales in market in 2021, based on end user.

· China will continue leading the East Asia market, registering a CAGR of over 17.7% through 2031.

· The U.S. market is projected to expand at a CAGR of 17.6% through 2031, owing to the rise in demand for elder care services for patients aged 65 and others and rising cases of from dementia and other illnesses among aged population.

· The UK will hold the lead in Europe, with a market share of 27.8% through 2031.

· pplications of Intelligent Transportation System (ITS) technologies is highly

· encouraged in emerging smart cities to handle the current challenges of the continuous

· growth in the number of vehicles that ply the highways in urban center

· pplications of Intelligent Transportation System (ITS) technologies is highly

· encouraged in emerging smart cities to handle the current challenges of the continuous

· growth in the number of vehicles that ply the highways in urban center

· Applications of Intelligent Transportation System (ITS) technologies is highly

Impact of COVID-19 on Elder Care Subscription Market

The COVID-19 pandemic has disrupted many industries. Different industry verticals have suffered notable losses as a result of mobility and travel restrictions for public health reasons, among other social distancing measures.

Disruptions in services negatively impacted economies and trade, given the role of services in offering inputs connecting supply chains and facilitating trade. The extent of impact on trade varies by mode of supply and sector.

The pace of technology disruption has continued to accelerate. The global COVID-19 pandemic however has proven to be a catalyst in making digital transformation a strategic imperative for healthcare service providers. There has been rise in demand for homecare elder care subscription services during the pandemic owing to the rise in illnesses and shortage of hospital staff. As a result, these events have turned in favor of elder care subscription market, thereby driving the market growth.

Elder Care Subscription Outlook by Category

By Subscription Type: