Caregiving Market Will Grow 13%

February 1, 2016

AARP and Parks Associates recently released a study aimed at the current and future needs of caregivers and those needing care. By 2020, 117 million Americans are expected to need assistance of some kind with our aging population. However, caregivers will only number 45 million by that time. This will mean huge growth in the caregiving industry with up to 80% being out-of-pocket spending by those needing assistance. Currently, 40 million Americans are providing unpaid care to elderly, disabled or some other assistance with this number to increase to 45 million by 2020.

Seniors will constitute an ever-increasing percentage of the population and this is going to have a huge impact on our society. By 2045, there will be 90 million Americans over the age of 65 who suffer from chronic health conditions and need some form of caregiving. This is twice what it is today. By 2050, those 85 and up will number nearly 21 million. Many will be cared for by family members, usually adult children. As a result, many people are going to be involved in eldercare. The medical needs of seniors will claim more resources from our healthcare system. Many more people will become caregivers and there absence from the workplace will affect employers and the economy as a whole. Our aging population is going to have an effect on everything throughout our economy. Proper planning and training will be able to help bring a positive outcome to the every increasing needs of our elderly.

 

Acorn provides screened and vetted in home care givers.
Our clients have dementia, Alzheimer’s, ALS and other similar conditions.
Call us if you have any questions.
We serve Chapel Hill, Carrboro and other nearby locations.

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