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Elderly & Disabled Services in the US - Industry Market Research Report

Elderly & Disabled Services in the US - Industry Market Research Report

  • July 2021
  • 39 pages
  • ID: 90354
  • Format: PDF
  • Ibisworld

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Older and wiser: Industry revenue is expected to grow due to the continued aging of the population

Abstract

Elderly & Disabled Services in the US

The Elderly and Disabled Services industry is highly fragmented, with many small organizations operating highly locally. The vast majority of industry operators hire fewer than 20 employees and as more operators enter the industry, fragmentation is expected to persist. Notable players in the industry include CK Franchising Inc., Right at Home Inc., Home Instead Inc. and Living Assistance Services, which operates through Visiting Angels. Nonprofit operators have fallen slightly as a share of total establishments due to the growing presence of for-profit franchise operations.

Geographic barriers hinder market share growth: Although the industry is characterized by relatively low barriers to entry, the local nature of operations has kept any one company from achieving a market share of 5.0% or higher. As a result, this industry does not have any major players. Industry operators tend to be nonprofits and tailor their services to the communities in which they operate. In addition, although the industry is characterized by a growing number of franchise for-profit operators, industry-relevant revenue generated by these establishments is attributed to the individual owner and not the franchise brand.

Competition thrives on reputation for quality services
Industry operators primarily compete based on their reputation for high quality care that is individualized, compassionate and ensures the safety of those they are serving. Companies in this industry will differentiate themselves based on their ability to tailor care to the unique needs of each individual they serve. Therefore, it is common to see operators advertise their expertise in care for those with different conditions, including but not limited to, dementia, arthritis, Alzheimer’s and Parkinson’s. Price is also important, since industry services can present a significant cost to individuals and their families.

This industry provides outpatient social assistance services to improve the quality of life for the elderly, the mentally ill and people with disabilities. Operators provide services in such areas as day care, nonmedical home care or homemaker services, social activities, group support and companionship. The industry does not include companies that primarily provide medical services or companies that provide overnight housing (e.g. retirement homes).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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