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Industry Trends & Statistics
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Home Care: A Hot Industry
- The fastest growing segment of the American population is over 65, and this group is expected to double within 30 years and continue growing for 50
- Of those who are 65 or older, 5 million receive home care services
- Approximately 2 million of these individuals pay privately for home care services, translating to 740 people per population of 100,000
- Entrepreneur magazine recently deemed home care one of the “greatest business opportunities of all time.”
Facts & Figures
- Today’s North American seniors make up the most affluent generation in history
- Every year, seniors account for 14% of the spending power in North America: approximately $588 billion
- Seniors spend 67% more than the average consumer on health care
- The fee for a single client receiving 24 hour a day home care services ranges nationally from $135-$245 (an average of $200 a day), or:
- $975 to $1,715 per week
- $49,275 to $89,425 per year
- $246,375 to $447,125 per 5-year period
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