Europe Elderly Care Facilities Market By Type (Independent Living Facilities, Assisted Living Communities, Nursing Homes, Continuing Care Retirement Communities, Others), By Service Provider (Public, Private), By Country, Competition, Forecast & Opportunities, 2028

Europe elderly care facilities market is anticipated to observe an impressive growth during the forecast period, 2024-2028. Robust growth in ageing population coupled with rising chronic conditions such as diabetes, cancer, asthma, arthritis, cancer, among others, are augmenting the growth of the market. According to the global cancer observatory, in 2020, around 4,398,443 new cancer cases were reported in the Europe. Of these reported new cancer cases, 2,339,617 were reported in males while that reported in females were around 2,058,826. Breast Cancer, Colorectum Cancer, Lung Cancer, Prostate Cancer, and Bladder Cancer were the most prominent types of cancer types in the European region.  Elderly care facilities are facilities which provide care and services to senior citizens. These facilities help old age people when they are ill, retired, or wanted to live independently, and also provide long-term care needs, thus, in turn improve their quality of life. There are various other factors which are supporting the growth of the elderly care facilities market in the Europe such as changing lifestyle, societal behaviors, increase in healthcare expenditure, rise in number of homecare and nursing homes, improved day-care facilities, rising awareness regarding geriatric care facilities, increase in average life expectancy, increasing spending on health and wellness, and rise in number of elderly people suffering from health conditions. In addition to these, there are numerous benefits of having elderly care facilities such as assistance for performing daily activities, 24×7 professional medical support, help in making seniors independent of responsibilities, among others.

Rise in Prevalence of Chronic Conditions

Growing incidences and prevalence of chronic diseases such as cancer, diabetes, heart strokes, cardiovascular diseases (CVDs), among others among geriatric population in the country, is bolstering the growth of the market.  According to the European Society of Cardiology’s 2019 report, there are over 6 million new cases of CVD in the European Union (EU) and over 11 million in Europe in total, every year. Also, occurrence of dementia in elderly is very common in the Europe. Large number of elderlies are suffering from these chronic diseases due to which there is a surge in demand for elderly care facilities which, in turn, bolster the growth of the market. In addition, the increase in the proportion of older people who are aged 60 and more in the country is facilitating the growth of the market. For instance, according to Statista data of 2021, Europe has largest proportion of the ageing population with 19%, where Italy has the largest elderly population share with 23.5% of total population.

Rapid Change in Lifestyle

In Europe, traditionally older people tend to live with the family but now, the trend is changed. Now, growing number of old people has put a lot of pressure on younger generation as they need to take care of them along with work. Owing to the demanding jobs, they are not able to take care of them or are less incline. Therefore, there is a rising need for elderly care facilities in the country. Furthermore, there are also some old age people who demand for more independence and also a life where they can live with dignity, as it provides comfort and peace of mind. As a result, these factors are likely to facilitate the growth of the market.

Recent Developments

• From 2020, the German care home sector has received the cross-border investments, at just under USD2billion.
• In 2021, Domidep backed by I Squared Capital acquired Römergarten Senioren-Residenzen.
• In 2019, Charleston having 47 sites and 4,050 beds were sold by EQT Partners to KOS and Primonial REIM
• Due to the overworked care staff, SARA (Social & Autonomous Robotic health Assistant), an innovation initiated by the robotic system is used as an assistant which improves the elderly care in hospitals and nursing homes.

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Market Segmentation

Europe elderly care facilities market is segmented into type, service provider, by country, and company. Based on type, the market is divided into independent living facilities, assisted living communities, nursing homes, continuing care retirement communities, others. Based on service provider, the market is categorized into private and public. In terms of countries, the market is segmented into France, Germany, United Kingdom, Italy, Spain, Finland, Greece, Portugal, Bulgaria, and Croatia.

 Market Players

Korian Group, Orpea Group, DomusVi SAS, Groupe Colisée, HC-One Ltd, Attendo AB, Malsons de Famille, Victors Group, Bupa Care Homes, and Nordic Capital are some of the leading companies operating in the market.

Report Scope:

In this report, Europe elderly care facilities market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Europe Elderly Care Facilities Market, By Type:

o    Independent Living Facilities

o    Assisted Living Communities

o    Nursing Homes

o    Continuing Care Retirement Communities

o    Others

·         Europe Elderly Care Facilities Market, By Service Provider:

o    Public

o    Private

·         Europe Elderly Care Facilities Market, By Country:

o    France

o    Germany

o    United Kingdom

o    Italy

o    Spain

o    Finland

o    Greece

o    Portugal

o    Bulgaria

o    Croatia.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present Europe elderly care facilities market

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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