France Elderly Care Services Market to Grow with a CAGR of 7.32% through 2028
Increased life expectancy and changing family structures are expected to drive the France Elderly Care Services Market growth in the forecast period, 2024-2028
According to
TechSci Research report, “France Elderly Care Services Market – By Region,
Competition, Forecast and Opportunities, 2028”, the France Elderly Care
Services Market stood at USD 8.74 billion in 2022 and is anticipated to grow
with a CAGR of 7.32% in the forecast period, 2024-2028. This can be attributed to
economic growth and investment. The economic growth in France has facilitated
increased investment in healthcare infrastructure and services, including
elderly care. Private and public investments in the sector contribute to the
expansion of facilities, the improvement of service quality, and the
development of innovative care models.
Furthermore, with
an increasing understanding of cognitive health, there is a growing focus on
memory care programs. Specialized services designed to support individuals with
dementia and Alzheimer's are gaining prominence. The integration of innovative
therapies, cognitive stimulation programs, and caregiver training is shaping
the future of memory care in the Elderly Care Services Market.
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"France Elderly Care Services Market”
The France Elderly
Care Services Market in 2023 reflects a growing demand for comprehensive and
specialized care solutions for the aging population. With an increasing
proportion of elderly citizens, the market has witnessed dynamic changes to
cater to the diverse needs of this demographic.
Elderly care
services in France encompass a wide range of offerings, including assisted
living facilities, home healthcare services, nursing homes, memory care, and
palliative care. Providers are focusing on delivering personalized and
high-quality services to address the specific needs of older individuals.
In response to
the changing landscape, technology integration plays a crucial role in
enhancing the efficiency and effectiveness of elderly care services. This
includes the use of smart home technologies, telehealth solutions, and digital
platforms to monitor and support the well-being of elderly individuals.
The France Elderly
Care Services Market is segmented into service type, service
provider, regional distribution, and company.
Based on its service type, the Elderly
Care Services Market is witnessing a notable shift towards Institutional Care
as the dominant service type, driven by several key factors. Firstly, the aging
population in France has led to an increased demand for specialized care
services that cater to complex medical and social needs, a requirement that
institutional care facilities are well-equipped to meet. Additionally, these
facilities offer a comprehensive range of services, including skilled nursing,
rehabilitation, and recreational activities, providing a holistic approach to
elderly care. Moreover, the stringent regulatory framework in France ensures
that institutional care providers adhere to high standards of quality and
safety, instilling confidence among families seeking care for their elderly
relatives. The scalability of institutional care also enables efficient
resource allocation and cost-effective service delivery, further contributing
to its dominance in the evolving landscape of Elderly Care Services in France.
Based on service
provider, Public service providers are poised to dominate the Elderly Care
Services Market in France for several compelling reasons. First and foremost,
the French government has been actively involved in shaping policies that
prioritize and support public-sector participation in the elderly care domain.
This commitment ensures that public providers have the necessary financial
backing and resources to establish and maintain high-quality care facilities.
Furthermore, the public sector's extensive network and infrastructure allow for
widespread accessibility to elderly care services, addressing the growing
demand across diverse geographical areas. The emphasis on inclusivity and
affordability aligns with the government's broader social welfare objectives,
making public service providers a natural choice for many families seeking
reliable and accessible elderly care options. Additionally, the public sector's
adherence to stringent regulations and standards enhances its credibility,
instilling trust among the population and solidifying its position as the
dominant service provider in the evolving landscape of Elderly Care Services in
France.
Major companies
operating in France Elderly Care Services Market are:
- Orpea SA
- Korean Group (Clariane SE)
- Colisee France SAS
- Attendo Group AB
- DomusVi SAS
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“The future of
France's Elderly Care Services Market is marked by innovation, customization,
and a commitment to enhancing the quality of life for seniors. From the
integration of technology to personalized care programs and a focus on social
well-being, these trends reflect a dynamic and responsive industry that is
adapting to the evolving needs of the aging population. As these trends
continue to unfold, they hold the promise of creating a more compassionate,
sustainable, and inclusive future for elderly care in France,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“France Elderly Care Services Market By Service
Type (Institutional Care, Community-Based Care, Home-Based Care), By Service
Provider (Public, Private), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of France Elderly Care Services Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in France Elderly Care Services Market.
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