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BCC Research Publishes a New Report on U.S. Elder Care Market
Date:12/26/2013

Wellesley, Mass. (PRWEB) December 26, 2013

According to a new technical market research report, The Elder Care Market: Products and Services, from BCC Research (http://www.bccresearch.com), the U.S. elder care market was valued at $286.7 billion in 2012 and is expected to increase to nearly $320 billion in 2013. BCC Research projects the market to grow to $436.6 billion by 2018, and register a five-year compound annual growth rate of 6.4% from 2013 to 2018.

The world population of individuals 65 and older is growing at an unprecedented pace, driven by better healthcare, nutrition and a dramatic decrease in infectious disease exposure. Life expectancy at the global level rose from 47 years between 1950 and 1955 to 65 years between 2000 and 2005, and is expected to reach 75 years between 2045 and 2050. Increasing longevity brings with it a variety of opportunities for elders to participate more fully in society; it also brings a variety of challenges. With more than 12% of the global population over 65 years old, communities increasingly face the challenge of providing appropriate healthcare, housing, and technologies that accommodate and enhance this segment’s daily life.

In the U.S., the threat of overwhelming infectious diseases has continually diminished, but infectious diseases have been replaced by chronic diseases that require prescription medications, possible surgery, and rehabilitative care. Heart disease and cancer pose the greatest risks as people age, as do other chronic diseases and conditions, such as stroke, chronic lower respiratory diseases (e.g., chronic obstructive pulmonary disease [COPD]), dementia, and diabetes. Currently, more than two-thirds of all healthcare costs
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