Adult Day Care in the US - Industry Market Research Report

Adult Day Care in the US - Industry Market Research Report

  • February 2022 •
  • 35 pages •
  • Report ID: 6245399 •
  • Format: PDF
A day out: An aging population and greater disposable income will likely support industry growth

Abstract

Adult Day Care

The Adult Day Care industry has performed well over the past five years. The steadily aging population and vastly costlier alternative long-term care options (such as nursing homes, which can cost five times more than adult day care) fueled demand for industry services. As the economy recovered, state and local government budgets improved and disposable income increased, helping industry growth return to prerecessionary levels. Despite revenue growth, profit has grown more moderately due to a slowdown in Medicaid funding for adult day care. Early in the current five-year period, many states, such as California, attempted to cut or reduce adult day care programs due to budgetary shortfalls. Over the next five years, the number of people aged 65 and older in the United States is projected to continue expanding as a share of the total population. As the population ages, the prevalence of Alzheimer’s and other physical and mental diseases will increase, bolstering demand for adult day care services. Disposable income will also grow as economic growth continues, enabling households to better afford adult day care services.

This industry provides social and basic health assistance, including transportation, meals, personal hygiene and therapeutic activities, to the elderly and individuals with mental or physical disabilities. Services are typically provided during normal business hours through adult care centers. This industry does not include home care.

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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