New York, NY -- (SBWIRE) -- 09/13/2017 -- That throws light on the performance of the global elder care services market over an eight year period. Estimated figures indicate significant growth prospects in the global market, providing good opportunities for business expansion and revenue generation for seasoned market players as well as market entrants.

With an increase in the worldwide geriatric population brought about by changing global demographics, there has been a sharp rise in demand for elder care services. An increased life expectancy of the population has further augmented this demand in the global market, leading to the growth of several businesses providing elder care services at a global level.

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Further, the family structure has moved to a more nuclear system in several countries of the world, necessitating the outsourcing of elderly caregiving to hospitals and healthcare institutions, as the preference of nuclear families is shifting towards different service types such as institutional care and community based care.

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These factors are anticipated to boost revenue growth of the global elder care services market, which, according to Persistence Market Research analysis, will reach a market valuation of US$ 1,767.3 Bn by the end of 2025, up from an estimated US$ 927.1 Bn in 2017, reflecting a CAGR of 8.4% over the forecast period (2017–2025).

Institutional care is slated to remain the largest segment by service type in the global elder care services market in terms of revenue, with an estimated 75% market share by the end of 2025. Community-based care is the second largest segment, with about 18% value share by the end of the forecast period.

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Public and government expenditure is the largest source of financing in the global elder care services market, projected to grow at a CAGR of 7.9% over the forecast period. The public expenditure segment dominated the global elder care services market in terms of financing source in 2016, and the trend is projected to continue throughout the forecast period.

Public expenditure is expected to account for the largest share of financing of elder care, with a market attractiveness index of 1.8 over the forecast period. Out-of-pocket spending is anticipated to be the second most common form of financing for elder care, with a market attractiveness index of 0.8 over the forecast period. However, in terms of CAGR growth, the out-of-pocket spending segment holds the first place – recording 9.4% growth during 2017 – 2025

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