How Big is the In-Home Care Market?
More people than ever need in-home assistance and the demand is going to continue well into the future
A rapidly growing senior population means that there is more opportunity than ever before in the in-home care sector. Medical and non-medical service providers are needed, and potential clients and their families are researching and vetting potential partners thoroughly.
That means the days of plugging workers into a schedule for a few hours to help with meal preparation, bathing, dressing and other activities of daily life are over. To succeed, a company must bring the most-qualified caregivers and the widest range of programs. ComForCare is that that company.
How big is the need? Consider these points:
- 90% of seniors want to remain in their homes as they age (according to AARP’s “The United States of Aging” survey).
- In 2015, only 32% of women over the age of 75 live with a spouse, and widows accounted for 34% of all older women, according to the U.S. Department of Health and Human Services Administration on Aging.
- Hospitals are discharging patients more quickly, with the average length of stay now being 4.6 days, down from 7.3 days in 1980. That means, even after rehab, many people are coming home in need of assistance.
- According to a recent USA Today poll, 43% of 45 to 65 year-olds say they anticipate remaining in their current residences throughout their retirement.
- The U.S. Census Bureau reports that the number of people in America who are 65 and older will hit 70 million by 2030.
Growth also will happen within the current in-home care client base because seniors who now only need assistance with daily-living activities are facing ongoing, worsening medical conditions such as arthritis, diabetes or Alzheimer’s.
“I don’t think there’s ever been a better time to own a ComForCare in-home care franchise,” says Phil LeBlanc, Vice President of Franchise Development. “First, the industry is in a growth cycle. The demand for our series is strong and is only going to grow. Second, ComForCare is a 20-year franchise company with proven, mature systems and processes. New franchise owners can come in and take advantage of all that.”