Individual And Family Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Individual And Family Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6071844 •
  • Format: PDF
Major players in the individual and family services market are CARE International, Children’s Aid and Family Services Inc., Eastwick Family Services, Executive Healthcare Services (EHS), Feeding America, Goldfields Individual and Family Support Association (GIFSA), Kairos Family Services, North East Independent Living Services, StepStone Family & Youth Services, and UNICEF (United Nations International Children’s Emergency Fund).

The global individual and family services market is expected to grow from $620.38 billion in 2020 to $697.29 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $964.87 billion in 2025 at a CAGR of 8.5%.

The individual and family services market consists of the revenues from individual and family services and related goods by entities that provide non-residential social assistance to children and youth, the elderly, persons with disabilities, and all other individuals and families.

Individual and family services providers are utilizing the virtual means for organizing events or fundraising, creating awareness, and rendering services.Restrictions due to pandemic all over the world forced many organizations to turn towards using the online platform for rendering services.

For instance, in October 2020, Fostering Hope Foundation, a US-based non-profit organization for foster services conducted a virtual fundraiser. Furthermore, in October 2020, The NYC Administration for Children’s Services (ACS) and The New York Academy of Medicine (NYAM) have entered into a new partnership aimed at promoting health equity among older youth in foster care through the use of virtual programming.

The individual and family services market covered in this report is segment by type into child and youth services; services for the elderly and persons with disabilities; other individual and family services.

In September 2020, Day One, a US-based agency that focuses on providing substance use, mental health, and wellness services to youth and families merged with SMART Child & Family Services.This merger is initiated to provide outstanding services to Maine people grappling with substance use and mental health challenges, with an intensified focus on family-based care.

SMART Child & Family Services, a US-based foster care agency that includes outpatient mental health counselling, home & community-based treatment, case management for children & adults, substance use services including medication-assisted treatment, outpatient psychiatry, and medication management.

The rise in abuse and neglect towards children and the elderly is expected to drive the individual and family services market.Children and the elderly are the most vulnerable individuals who are prone to abuse and neglect from their families, friends, institutions, and others.

According to the World Health Organization in 2020, one in 6 people at the age of 60 and above have experienced abuse. Moreover, according to the analysis published in the 29th Child Maltreatment Report by the Children’s Bureau at HHS’ Administration for Children and Families (ACF), out of 3,534,000 million children, 60.8% of victims were neglected, 10.7% were physically abused, and 7.0% were sexually abused. More than 15% of children are victims of two or more types of maltreatment. The children and elderly abused and neglected mostly suffer from physical injuries, emotional, and psychological problems, such as impaired social-emotional skills or anxiety. Children and the elderly who suffered abuse are at a higher risk of substance abuse due to emotional imbalance and this growing number increases the demand for individual and family services for non-residential social assistance services for improving living standards.

Cases of abuse going unreported hamper the individual and family services market.Most of the abuse is unreported due to fear, lack of awareness, and not receiving a proper channel.

According to the United Nations International Children’s Emergency Fund (UNICEF)’s statistics published in December 2019, the 2010-2019 decade was considered as a deadly decade for children in conflict, with more than 170,000 grave violations verified being most of the cases unreported. As the cases are unreported individual and family services providers can’t assist the victims and most of the victims are left unaided, thereby hampering the growth of the individual and family services market.