According to information released by PR Newswire, it is anticipated that by the year 2022, the amount of money spent through the worldwide geriatric care services market, will reach $1,012.02bn. The volume is so high due to the increasing population of the elderly who are staying alive but are therefore needing medical care due to chronic medical conditions.
In 2014 the value of what was spent on home care services was $255.36bn. it is anticipated that growth will continue at a solid rate. The elderly often prefer home care services as their lives do not have to undergo a complete overhaul. They can also stay with their loved ones.
In North America, the Center for Disease Control and Prevention (CDC) pointed out that three years ago, there were 58,600 long term care facilities and 4,800 adult day care centers. The main players in this include: Brookdale Senior Living, Extendicare, Inc., Genesis Healthcare Corp., Kindred Healthcare Inc., and the Senior Care Centers of America.