Japan Elderly Care Services Market Insights Forecasts to 2033

• The Japan Elderly Care Services Market Size was valued at USD 11.17 Billion in 2023.
• The Market Size is Growing at a CAGR of 7.07% from 2023 to 2033
• The Japan Elderly Care Services Market Size is Expected to Reach USD 22.12 Billion by 2033

The Japan Elderly Care Services Market Size is Anticipated to Reach USD 22.12 Billion by 2033, growing at a CAGR of 7.07% from 2023 to 2033.

Market Overview

Elder care refers to services that are specifically created to meet the needs of those 65 years of age and above. As people enter later phases of life, this kind of care helps them along the way. To live independently and securely, some people might require assistance with everyday chores like meal preparation, personal hygiene, or light cleaning, while others could require hands-on, specialized care. To satisfy their emotional requirements, some people might only require company. Additionally, elderly care becomes more and more necessary as individuals age because they need both mental and physical support to live long, healthy, and independent lives. Furthermore, chronic illnesses include diabetes, osteoporosis, Alzheimer's disease, and dementia, as well as other age-related problems, which significantly affect Japan's elderly citizens. There is an increasing demand for long-term care options and professional healthcare services that can handle complex medical needs and assist in managing diseases because these chronic ailments are more common in the elderly.

Report Coverage

This research report categorizes the market for the Japan elderly care services market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan elderly care services market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan elderly care services market.

Driving Factors

Japan is growing significantly older. The most recent national statistics show that over one in ten citizens of the nation are 80 years of age or older. 36.23 million people, or about a third of the total, are thought to be over 65. The data emphasizes Japan's growing population of elderly people, which is driving demand for older services and assistance in the country.  A significant need for senior care services, such as long-term nursing assistance, assisted living facilities, home care assistance, and specialty medical treatments catered to the particular requirements of seniors in Japan, is created by this country's changing demographics. Additionally, to help elderly people, the Japanese government has put in place a number of laws and programs. One such program is the Long-Term Care Insurance system, which offers complete care services. The market for elderly care in Japan has grown dramatically as a result of this proactive approach, which has also encouraged the expansion of many care facilities and service providers.

Restraining Factors

Financial limitations may prevent many elderly people from accessing high-quality healthcare facilities and services.

Market Segmentation

The Japan elderly care services market share is classified into services and applications.

• The home care services segment is expected to hold the largest market share through the forecast period.   

The Japan elderly care services market is segmented by services into home care services, adult care services, and institutional care services. Among these, the home care services segment is expected to hold the largest market share through the forecast period. Receiving care in familiar settings is a substantial preference for senior citizens and their families. This pattern is representative of a larger cultural movement toward "aging in place," which allows senior citizens to age with respect and freedom in the familiar surroundings of their own homes.

• The heart disease segment is expected to dominate the Japan elderly care services market during the forecast period.       

Based on the application, the Japan elderly care services market is divided into heart disease, cancer, kidney diseases, diabetes, arthritis, osteoporosis, neurological, respiratory, and others. Among these, the heart disease segment is expected to dominate the Japan elderly care services market during the forecast period. It is anticipated that the heart disease sector will lead market growth due to a growing incidence of cardiovascular conditions, high blood pressure, and hypertension among the elderly population in Japan.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan elderly care services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Triple W Inc.
• Welmo
• Robear
• Pepper (SoftBank Robotics)
• Silverado
• Medicos
• Nihon Care
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, TytoCare an Israeli telehealth firm that has partnered with Sompo, a commercial insurance provider in Japan, to offer nursing home care for elderly people through the use of artificial intelligence-based remote medical equipment.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Elderly Care Services Market based on the below-mentioned segments:

Japan Elderly Care Services Market, By Services

• Home Care Services
• Adult Care Services
• Institutional Care Services

Japan Elderly Care Services Market, By Application

• Heart Disease
• Cancer
• Kidney Diseases
• Diabetes
• Arthritis
• Osteoporosis
• Neurological
• Respiratory
• Others