Australia Elderly Care Services Market Introduction and Overview
According to SPER Market Research, the Australia Elderly Care Services Market is estimated to reach USD XX million by 2033 with a CAGR of XX%.
Elderly care services are a range of support networks created to improve elders' quality of life as they age. These services include adult day care, which provides social activities and supervision during the day, and home care, which offers seniors individualised assistance in their homes. Residential care includes long-term institutions that offer 24-hour care, such as nursing homes. Speciality care addresses certain medical disorders, such as dementia, whereas community-based services provide nearby amenities like food delivery and transportation. When combined, these services guarantee that elderly people receive all-encompassing, respectful, and individualised assistance.
- In March 2023, AWS announced the roster for its Healthcare Accelerator in Australia and New Zealand, with an emphasis on aged care and digital health. The initiative, which debuted in Sydney, includes 11 businesses working to improve health and elder care services using cloud-based solutions.
Market Opportunities and Challenges
Opportunities-
Growing Rate of Chronic Illnesses: An enormous increase in chronic diseases among Australia's senior population (65 and above) is driving the country's elderly care services market to new heights. Over 60% of older Australians live with at least one chronic condition, most typically diabetes, arthritis, or heart disease, according to statistics that provide a gloomy picture of the situation. Because these illnesses frequently make it difficult to move about and go about everyday tasks, the need for senior care services has skyrocketed. This covers a broader spectrum of choices, such as assisted living centres, in-home care, and specialised treatment for dementia patients. Australia's Elderly Care Services Market is expected to increase significantly during the forecast period as the elderly face an increasing burden of managing chronic diseases.
Challenges-
High Medical Expenses: High costs are a major barrier to the growth of the Australian elderly care services market. These costs, which include those for in-home care, residential facilities, and medical treatment, frequently discourage seniors from getting the care they need and put a pressure on healthcare budgets. Innovative finance strategies, affordable policy changes, and the promotion of effective service delivery methods are all necessary to meet these problems. In order to guarantee accessible and long-lasting senior care in both nations, these steps are essential.
Market Competitive Landscape
Major players operating in Australia Elderly Care Services Market include Care Services Australia, Homecare Group Pty Ltd, Home Care Assistance, Home Caring Pty Ltd, Care For Family, Koninklijke Philips N.V, Rosewood Care Group, Medtronic. To grow their market share, these businesses employ a variety of strategies, including alliances, joint ventures, licensing contracts, mergers and acquisitions, and the launch of new goods.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product, By Service, By Application
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| Regions covered | Western Australia, New South Wales, Queensland, Victoria, Rest of Australia.
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| Companies Covered | Care Services Australia, Homecare Group Pty Ltd, Home Care Assistance, Home Caring Pty Ltd, Care For Family, Koninklijke Philips N.V, Rosewood Care Group, Medtronic. |
COVID-19 Impact on Australia Elderly Care Services Market
The market for elderly care has been significantly impacted by the Covid-19 outbreak. Because elderly persons are more susceptible to the virus, care facilities have to take more precautions and adhere to tighter infection control protocols. The epidemic brought to light the significance of having access to high-quality care, having tools for remote monitoring, and having efficient lines of communication between older persons, their families, and carers. Following the pandemic, the industry is anticipated to develop even more as nations make investments to fortify their systems for providing elder care and to better prepare for future medical emergencies.
Key Target Audience:
- Elderly Indial Estate Developers
- Technology Providviduals and Their Families
- Healthcare Providers
- Government and Regulatory Bodies
- Private Aged Care Providers
- Insurance Companies
- Investors and Reers
- Pharmaceutical and Medical Equipment Companies
- Advocacy and Support Groups
- Research and Academic Institutions
Our in-depth analysis of the Australia Elderly Care Services Market includes the following segments:
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By Product:
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Pharmaceuticals
Housing and Assistive Devices
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By Service:
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Institutional Care
Homecare
Adult Day Care
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By Application:
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Heart Diseases
Cancer
Kidney Diseases
Diabetes
Arthritis
Osteoporosis
Neurological
Respiratory
Others
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Key Topics Covered in the Report:
- Australia Elderly Care Services Market Size (FY’2024-FY’2033)
- Overview of Australia Elderly Care Services Market
- Segmentation of Australia Elderly Care Services Market By Product (Pharmaceuticals, Housing, Assistive Devices)
- Segmentation of Australia Elderly Care Services Market By Service (Institutional Care, Homecare, Adult Day Care)
- Segmentation of Australia Elderly Care Services Market By Application (Heart Diseases, Cancer, Kidney Diseases, Diabetes, Arthritis, Osteoporosis, Neurological, Respiratory, Others)
- Statistical Snap of Australia Elderly Care Services Market
- Expansion Analysis of Australia Elderly Care Services Market
- Problems and Obstacles in Australia Elderly Care Services Market
- Competitive Landscape in the Australia Elderly Care Services Market
- Impact of COVID-19 and Demonetization on Australia Elderly Care Services Market
- Details on Current Investment in Australia Elderly Care Services Market
- Competitive Analysis of Australia Elderly Care Services Market
- Prominent Players in the Australia Elderly Care Services Market
- SWOT Analysis of Australia Elderly Care Services Market
- Australia Elderly Care Services Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity, and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Australia Elderly Care Services Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Australia Elderly Care Services Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Australia Elderly Care Services Market
7. Australia Elderly Care Services Market, By Product (USD Million) 2020-2033
7.1. Australia Elderly Care Services Market Size, Share and Forecast, By Product, 2020-2026
7.2. Australia Elderly Care Services Market Size, Share and Forecast, By Product, 2027-2033
7.3. Pharmaceuticals
7.4. Housing and Assistive Devices
8. Australia Elderly Care Services Market, By Service (USD Million) 2020-2033
8.1. Australia Elderly Care Services Market Size, Share and Forecast, By Service, 2020-2026
8.2. Australia Elderly Care Services Market Size, Share and Forecast, By Service, 2027-2033
8.3. Institutional Care
8.4. Homecare
8.5. Adult Day Care
9. Australia Elderly Care Services Market, By Application (USD Million) 2020-2033
9.1. Australia Elderly Care Services Market Size, Share and Forecast, By Application, 2020-2026
9.2. Australia Elderly Care Services Market Size, Share and Forecast, By Application, 2027-2033
9.3. Heart Diseases
9.4. Cancer
9.5. Kidney Diseases
9.6. Diabetes
9.7. Arthritis
9.8. Osteoporosis
9.9. Neurological
9.10. Respiratory
9.11. Others
10. Australia Elderly Care Services Market Forecast, 2020-2033 (USD Million)
10.1. Australia Elderly Care Services Market Size and Market Share
11. Australia Elderly Care Services Market, By Region, 2020-2033 (USD Million)
11.1. Australia Elderly Care Services Market Size and Market Share By Region (2020-2026)
11.2. Australia Elderly Care Services Market Size and Market Share By Region (2027-2033)
11.3. Western Australia
11.4. New South Wales
11.5. Queensland
11.6. Victoria
11.7. Rest of Australia
12. Company Profile
12.1. Care Services Australia
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Homecare Group Pty Ltd
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Home Care Assistance
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Home Caring Pty Ltd
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Care For Family
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Koninklijke Philips N.V.
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Rosewood Care Group
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Medtronic
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
