Global Elder Care Services Market to Surpass USD 2 Trillion by 2033, Reveals FutureWise Research Report

FutureWise Research today announced the release of its comprehensive new report, “Elder Care Services Market, By Service Type, By Financial Source, By Service Provider and By Region: Industry Analysis, Market Share, Revenue Opportunity, Competitive Analysis and Forecast 2025-2033”. The report provides an in-depth analysis of global elder care services, noting that the market is projected to grow from US$1,003.5 billion in 2025 to US$2,077.1 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 9.52 % over the forecast period. 

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As populations around the world continue to age, demand for high-quality elder care services is surging, and new care models — integrating telehealth, remote monitoring, and person-centered care — are reshaping how services are delivered.

Key Market Drivers & Trends

FutureWise identifies several key forces fueling the growth of the elder care services market:

• Rapid demographic aging and prevalence of chronic disease: A growing proportion of older adults living longer, often with comorbidities, is prompting greater demand for both institutional and in-home care solutions. 
• Rising demand for personalized and home-based care: Many seniors prefer to age in place. Home care, non-medical support services, and rehabilitation services are gaining traction globally. 
• Technological integration: Telemedicine, remote patient monitoring, smart wearable devices, AI-enabled analytics, and virtual care platforms are being adopted to increase access, reduce cost, and improve outcomes.
• Policy & public funding initiatives: In many markets, government subsidies, regulatory reforms, and long-term care (LTC) programs are being expanded to support elder care infrastructure. 
• Emerging market expansion: Regions such as Asia-Pacific are witnessing accelerated growth due to rising incomes, urbanization, and shifting family structures, which place pressure on traditional informal care systems. 

At the same time, the report draws attention to challenges such as workforce shortages and caregiver burnout, high cost burdens, uneven regulatory frameworks, and barriers to technology adoption among seniors. 

Market Segmentation & Structure

FutureWise segments the elder care services market across the following dimensions:

• By Service Type: Home care (medical and non-medical), adult day care (health and non-medical), institutional care (independent living, assisted living, nursing homes, palliative care, hospice) 
• By Financial Source: Public and government expenditure, private funding, and out-of-pocket payments 
• By Service Provider: Public sector, private sector providers 
• By Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

This granularity allows stakeholders — from payers and service providers to technology vendors and investors — to identify high-opportunity subsegments and regional markets.

Regional Insights & Growth Hotspots

While all regions will see substantial elder care demand, Asia-Pacific stands out as a particularly dynamic region. Factors such as rapidly aging populations (e.g. Japan, China, India), rising incomes, government initiatives, and the expansion of healthcare infrastructure are propelling growth. 

North America and Europe will continue to be mature markets with high per-capita spending, but innovation will center on differentiated care models, integrated care, and technology-enabled solutions. Latin America, the Middle East, and Africa are expected to present more nascent but fast-growing opportunities.

Competitive Landscape & Strategic Highlights

Among the major global players covered by the report are (but are not limited to):

• GGNSC Holdings
• Genesis HealthCare Corporation
• Benesse Style Care Co. Ltd
• ApnaCare Latin America Private Limited
• Econ Healthcare Group
• GoldenCare Group Private Limited
• Carewell-Service Co.
• St. Luke’s ElderCare Ltd
• Pacific Healthcare Nursing Home
• NTUC Health Co-operative Ltd.
• Rosewood Care Group Inc.
• United Medicare Pte Ltd. 

Recent developments highlight both opportunity and volatility. For instance, in July 2025, Genesis HealthCare filed for Chapter 11 bankruptcy as part of a debt restructuring effort — citing mounting expenses and legal burdens. Carewell-Service, in contrast, is pursuing a distinctive “care resort” model in Phuket combining memory care with luxury hospitality features like landscaped gardens and villa-style accommodations. 

The report also provides SWOT analyses, strategic growth matrices, and profiles of both established (Tier 1) and emerging participants in the elder care services space. 

Why This Report Matters to the Healthcare & Life Sciences Community

• Investors and corporates can pinpoint high-growth market segments and regions, evaluate competitive positioning, and shape entry or expansion strategies.
• Healthcare providers and elder care operators can benchmark service offerings, model care-delivery innovation, and anticipate shifts in consumer preferences and payor models.
• Technology and medtech vendors can identify unmet needs in remote monitoring, telehealth platforms, assistive devices, AI-based decision tools, and digital health integration.
• Policymakers and public agencies can leverage the insights for long-term planning, regulation, reimbursement frameworks, and aging care infrastructure investment.

About FutureWise Research

FutureWise Research is a global provider of market research and consulting services, offering in-depth reports, data analytics, competitive intelligence, and custom engagements across healthcare, biotechnology, medical devices, and other high-growth sectors. Through rigorous methodologies combining primary and secondary research, FutureWise empowers clients with the insights needed to make informed business decisions and win in dynamic markets. 

For further information on this report or to request a sample, please contact:

Vinay T

Head of Business Development

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