The Global Elderly Care Market is expected to grow with a CAGR of 7.0% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.
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The global elderly care market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to favorable market scenarios.
The major players dealing in the global elderly care market are introducing a wide range of products provided along with adopting strategic initiatives such as publications, acquisitions, business expansions, and awards and recognitions into the market. This helped companies to maximize sales with an enhanced product portfolio.
For instance:
- In March 2021, Trinity Health, one of the largest multi-institutional Catholic health care delivery systems in the U.S., announced that it had acquired a majority ownership stake in Premier Health, which is a recognized national leader in urgent care. This new acquisition with Premier Health will increase access to convenient, local health care services in its current communities as well as in new markets in partnership with other leading health care organizations
- In September 2019, ORPEA GROUPE acquired 28% of Exelus's capital and will further invest in developing the Nomadeec telemedicine solution. Exelus develops and designs chemical processes and chemical fuels. It also provides telemedicine solutions all over France. This acquisition will help the company to adopt telemedicine solutions to fulfill its services such as retirement homes and psychiatric clinics
Trinity Health is the dominating player in the global elderly care market. The other key players existing in the market are Koninklijke Philips N.V., Amedisys, ECON Healthcare Group, Encompass Health Corporation, EXTENDICARE, LHC Group, Inc., Medtronic, ORPEA GROUPE, Prolifico Group Ltd., ElderCareCanada, Exceptional Living Centers, Right at Home, LLC, BAYADA Home Health Care, United Medicare Pte Ltd., Rosewood Care Group, ST LUKE'S ELDERCARE LTD, FC Compassus LLC, Home Instead, Inc., Interim HealthCare Inc., Living Assistance Services, among others.
Trinity Health
Trinity Health was established in 2013 and is headquartered in Michigan, U.S. The company focuses on becoming the national leader in improving the health of the communities and senior care, PACE programs, and many others. The company offers various products under the service categories such as senior care, PACE, home-based care, health and wellness care, physician office-based services, community health & well-being, hospital and ambulatory care, military and veteran health care, Medigold, and global health volunteers, in which senior care, PACE, health and wellness care, community health & well-being is the market-focused category.
For instance,
- In March 2021, Trinity Health, one of the largest multi-institutional Catholic health care delivery systems in the U.S., announced that it had acquired a majority ownership stake in Premier Health, which is a recognized national leader in urgent care. This new acquisition with Premier Health will increase access to convenient, local health care services in its current communities as well as in new markets in partnership with other leading health care organizations
The company has a wide presence across North America. Its subsidiaries are St. Peter's Health Partners (U.S.), MercyOne (U.S.), Mount Carmel Health System (U.S.), and others.
ORPEA GROUPE
ORPEA GROUPE was founded in 1989 and is headquartered in Puteaux Cedex, France. The company is involved in offering care services such as psychiatric clinics for people suffering from mental illness, home care services, medical nursing homes, independent living, among others. The company offers various service categories nursing homes, post-acute care and rehabilitation, psychiatric care facilities, and home care, which are also the market-focused categories.
For instance,
- In September 2019, ORPEA GROUPE acquired a France-based psychiatric hospitals group, Sinoué. The Sinoué provides seven facilities and 592 beds. The Sinoué manages different types of services, including mental health care, psychiatric disorders such as depression, bipolar disorder, sleeping disorder, addiction, and others. This acquisition has helped the company to strengthen its position in psychiatric care offerings both in France and globally
The company has service centers sites located all across the region. It operates widely in regions such as the Americas, Europe, Asia-Pacific. Its subsidiaries are Senevita AG (Switzerland), Cetenus -Kliniken GMBH (Germany), Sanyres Sur, S.L (Spain), Opera Italia S.r.l., among others.
Encompass Health Corporation
Encompass Health Corporation was founded in 1984 and is headquartered in Birmingham, U.S. The company is engaged in providing high-quality integrated services to the patient and home-based care. The company is involved in offering care services such as inpatient rehabilitation, home health, hospice, which are the market-focused category.
For instance,
- In November 2019, Encompass Health Corporation, Rusty Yeager, and Cerner received the 2019 CHIME Collaboration Award. This awards the great work of wonderful and compassionate individuals who are dedicated to providing exceptional care to patients. The award is given annually by CHIME to recognize a collaborative effort between a CIO who is a CHIME member and a CHIME Foundation firm who together offer a benefit to the healthcare IT community
The company has a wide presence across North America. Its subsidiaries are HEALTHSOUTH of Sewickley, Inc. (U.S) HEALTHSOUTH OF YORK, INC(U.S.), HEALTHSOUTH Rehabilitation Hospital of Beaumont (U.S), HEALTHSOUTH of Spring Hill, Inc. (U.S.), CMS Jonesboro Rehabilitation, Inc. (U.S), among others.
