Key Takeaways
- In 2023, the U.S. home health care industry employed approximately 4.1 million workers, marking a 5.2% increase from 2022.
- Globally, the caregiving workforce is projected to reach 55 million by 2030, driven by aging populations in high-income countries.
- In the UK, there were 1.6 million care workers in 2023, with 82% being women and 18% men.
- In 2023, the global care economy was valued at $5.4 trillion, representing 9% of global GDP.
- U.S. long-term care market size reached $454 billion in 2023, projected to $633 billion by 2028 at CAGR 6.9%.
- Europe's home care services market was €120 billion in 2022, growing at 5.5% annually.
- In 2023, 10,000 Americans turned 65 daily, fueling demand for care services.
- Globally, 1 in 6 people will be over 65 by 2050, totaling 1.6 billion elderly.
- UK's population aged 85+ reached 1.6 million in 2023, up 20% from 2013.
- U.S. Medicare spending on long-term care was $120 billion in 2022.
- Global long-term care expenditure projected at $2.1 trillion by 2050.
- UK's adult social care funding gap estimated at £2.7 billion in 2023.
- In 2023, U.S. nursing homes reported 85% staff vaccination rate against COVID-19.
- Global patient satisfaction in home care averaged 92% in 2023 surveys.
- UK's Care Quality Commission rated 80% of care homes as good or outstanding in 2023.
The care industry is rapidly growing globally due to aging populations and increased demand.
Employment Statistics
- In 2023, the U.S. home health care industry employed approximately 4.1 million workers, marking a 5.2% increase from 2022.
- Globally, the caregiving workforce is projected to reach 55 million by 2030, driven by aging populations in high-income countries.
- In the UK, there were 1.6 million care workers in 2023, with 82% being women and 18% men.
- Australia's aged care workforce numbered 452,000 in 2022, with a vacancy rate of 7.9% across the sector.
- In 2022, U.S. nursing assistants had a median annual wage of $35,760, 25% below the national median.
- Europe's long-term care workforce shortage is estimated at 1.5 million workers by 2030 according to OECD data.
- In Japan, 2.3 million people were employed in care services in 2022, up 4.1% from the previous year.
- Canada’s home care workforce grew by 12% between 2017 and 2022, reaching 350,000 workers.
- In India, the informal care sector employs over 5 million workers, predominantly women aged 25-45.
- Germany's care workforce turnover rate was 28% in 2022, highest among OECD countries.
- U.S. personal care aides job openings projected at 848,000 annually from 2022-2032.
- South Korea's long-term care workers increased to 450,000 in 2023, with 90% female.
- In Brazil, 1.2 million formal caregivers were registered in 2022, 70% in home care.
- New Zealand's aged care sector had 52,000 workers in 2023, with 15% ethnic minorities.
- Sweden's care assistants numbered 150,000 in 2022, with average age of 47 years.
- In 2023, U.S. direct care workforce turnover rate was 47% in nursing homes.
- Globally, 70% of care workers are women, earning 20% less than male counterparts.
- UK's domiciliary care staff vacancies hit 11.4% in 2023.
- In 2022, France had 1.8 million home care workers, 95% part-time.
- U.S. home health aides median hourly wage $16.43 in 2023.
- Netherlands care sector employed 1.2 million in 2023, 15% immigrants.
- Italy's care workers totaled 3 million in 2022, 40% undeclared.
- Singapore's foreign domestic workers in care numbered 250,000 in 2023.
- South Africa's care workforce gap estimated at 100,000 by 2030.
- Spain had 500,000 dependency care workers in 2023, turnover 25%.
Employment Statistics Interpretation
Expenditure and Funding
- U.S. Medicare spending on long-term care was $120 billion in 2022.
- Global long-term care expenditure projected at $2.1 trillion by 2050.
- UK's adult social care funding gap estimated at £2.7 billion in 2023.
- Japan spent 2.3% of GDP on long-term care in 2022.
- U.S. out-of-pocket long-term care costs averaged $140,000 annually for nursing homes in 2023.
- EU countries allocate average 1.8% GDP to long-term care services.
- China's social health insurance covered 95% of long-term care costs for 100 million elderly in 2023.
- India's private care expenditure is 70% out-of-pocket, totaling $15 billion yearly.
- Australia’s aged care subsidies totaled AUD 22 billion in 2022-23.
- Global private long-term care insurance market $1.2 trillion premiums in 2023.
- Canada's provincial long-term care spending per resident averaged CAD 55,000 in 2022.
- Brazil public health spending on elderly care was 4% of total SUS budget in 2023.
- U.S. Medicaid funded 60% of all long-term care services in 2022.
- 70% of U.S. long-term care paid by Medicaid, $90B in 2023.
- OECD average LTC spending 1.7% GDP in 2022.
- Netherlands LTC budget €30 billion in 2023.
- India government health spending on elderly 1% of budget.
- Sweden LTC expenditure 3.5% GDP, highest in EU.
- U.S. private LTC insurance covers 7 million policies, $12B claims.
- Philippines care remittances from OFWs $2B annually.
- Norway LTC spending per capita $8,000 USD equivalent.
- Thailand universal coverage LTC pilot cost 50B baht.
- U.S. average nursing home cost $108,405/year in 2023.
- Global digital health in care market $175B in 2023.
- UK average homecare hourly rate £28.42 in 2023.
Expenditure and Funding Interpretation
Market and Economic Data
- In 2023, the global care economy was valued at $5.4 trillion, representing 9% of global GDP.
- U.S. long-term care market size reached $454 billion in 2023, projected to $633 billion by 2028 at CAGR 6.9%.
- Europe's home care services market was €120 billion in 2022, growing at 5.5% annually.
- China's elder care market hit 7.5 trillion yuan ($1.1 trillion) in 2023, up 12% YoY.
- India's caregiving industry valued at $25 billion in 2023, expected to grow to $75 billion by 2025.
- Global home healthcare market size was $390 billion in 2023, forecasted to $720 billion by 2030 at CAGR 9.2%.
- UK's adult social care market expenditure totaled £32 billion in 2022/23.
- Australia's aged care market revenue was AUD 25 billion in 2023, with 40% from government subsidies.
- Japan's nursing care insurance market expenditure was 12.5 trillion yen in FY2022.
- U.S. home care agencies generated $118 billion in revenue in 2022.
- Canada's long-term care sector market size was CAD 40 billion in 2023.
- Brazil's home care market grew to BRL 15 billion in 2023, CAGR 8% since 2019.
- Global elder care robotics market valued at $6.2 billion in 2023, projected $34 billion by 2030.
- Global home care market CAGR forecasted at 7.8% to 2030, reaching $1 trillion.
- U.S. skilled nursing facilities revenue $120 billion in 2023.
- Germany's long-term care market €50 billion in 2023.
- South Korea home care market $15 billion in 2023, growing 10%.
- Mexico's elder care industry $8 billion in 2023.
- Russia's care services market 1.2 trillion rubles in 2023.
- Saudi Arabia long-term care market projected $5 billion by 2028.
- Turkey home health care market $2.5 billion in 2023.
- Vietnam elder care market $1.8 billion, CAGR 12% to 2027.
Market and Economic Data Interpretation
Patient Demographics
- In 2023, 10,000 Americans turned 65 daily, fueling demand for care services.
- Globally, 1 in 6 people will be over 65 by 2050, totaling 1.6 billion elderly.
- UK's population aged 85+ reached 1.6 million in 2023, up 20% from 2013.
- In Japan, 29% of population was 65+ in 2023, highest globally.
- U.S. dementia patients numbered 6.7 million in 2023, projected 13.8 million by 2060.
- Europe's over-80 population will double to 40 million by 2050.
- China's elderly population (60+) hit 297 million in 2023, 21% of total.
- India has 138 million elderly (60+) in 2023, expected 320 million by 2050.
- 54% of U.S. adults aged 50+ have three or more chronic conditions requiring care.
- Australia's 65+ population was 4.2 million in 2023, 16% of total.
- Globally, 55 million people live with dementia in 2023, doubling every 20 years.
- In Canada, 2 million seniors (65+) live alone, 28% of that demographic.
- Brazil's 60+ population reached 32 million in 2023, 15% growth since 2010.
- 80% of care recipients worldwide are women aged 75+.
- In 2023, 12% of U.S. adults 65+ lived in nursing facilities.
- Africa’s 60+ population to triple to 230 million by 2050.
- 42% of UK care home residents have dementia.
- U.S. 75% of long-term care needs met by unpaid family caregivers.
- Europe's 50 million disabled require daily care assistance.
- 25% of global elderly suffer loneliness impacting care needs.
- U.S. Hispanic elderly population grew 55% since 2010 to 4 million.
- 60% of Australian aged care residents female.
- Global chronic disease patients in care: 1.9 billion adults.
- France 1.3 million dependent elderly in 2023.
Patient Demographics Interpretation
Service Quality and Outcomes
- In 2023, U.S. nursing homes reported 85% staff vaccination rate against COVID-19.
- Global patient satisfaction in home care averaged 92% in 2023 surveys.
- UK's Care Quality Commission rated 80% of care homes as good or outstanding in 2023.
- Japan's long-term care satisfaction rate was 75% among users in 2022.
- U.S. hospital readmission rate for long-term care patients dropped to 18% in 2023.
- EU average fall-related injuries in care homes reduced by 15% from 2018-2023.
- China's community care centers achieved 95% accessibility for urban elderly in 2023.
- India's formal care facilities had 70% compliance with hygiene standards in 2023 audits.
- Australia’s aged care quality ratings showed 85% providers at 3 stars or above in 2023.
- Global pressure ulcer prevalence in long-term care fell to 8% in 2023.
- Canada reported 90% of home care clients maintained independence post-service.
- Brazil’s care homes had 82% staff trained in dementia care by 2023.
- U.S. hospice care pain management success rate reached 88% in 2023.
- 75% of EU nursing homes met staffing standards in 2023.
- U.S. home care client falls reduced 22% with telehealth.
- Japan's caregiver training completion rate 92% in 2023.
- Global antibiotic resistance in care facilities 15% lower post-2020.
- Australia's My Aged Care portal served 1.2M assessments, 95% satisfaction.
- U.S. 90% hospice patients rated care 9/10 or higher.
- Canada wait times for LTC averaged 5 months in 2023.
- India NABH accredited care homes rose 30% to 500 in 2023.
- 85% reduction in COVID deaths in vaccinated care homes.
Service Quality and Outcomes Interpretation
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