Within the next five years, the number of senior care facilities worldwide will grow steadily. The United States will be no exception, although the anticipated growth rate is slower than for the world at large.
In fact, until at least 2021, the number of senior care facilities in emerging economies will grow at an annual rate of 3.4%, and the number of senior care facilities in developed economies will grow at an annual rate of 2.1%.
That’s according to new data from London-based global market research firm Euromonitor International, which told GlobeSt.com that there will be more than 789 million people over the age of 60 in emerging and developed countries by 2021, increasing demand for senior care facilities.
By 2021, the number of senior care facilities in the United States will rise from 26,209 now to about 30,600 by 2021, an annual growth rate of 3.1%, Euromonitor International told GlobeSt.com.
Additionally, accelerated ageing in China, Japan and Western Europe will increase the need for senior care facilities between now and 2021, outpacing other government, health care and education channels, Matthew Oster, a Euromonitor International senior analyst, told GlobeSt.com.
“The number of residents will also continue increasing across regions, reflecting the need for senior care, especially as societies’ traditional family-based care structures continue to break down,” Oster added.
Here are the top 10 countries that will have the highest number of senior care facilities in 2021:
3. United States
6. United Kingdom
8. South Korea
Written by Mary Kate Nelson