III. Industry Analysis
The world population is aging at a rapid rate. Due to baby booms earlier in the previous century and a currently declining birth rate, the ratio of seniors to younger individuals increases every year. Within the next couple of decades, there will be more elderly individuals than children in many countries around the world. This presents many challenges, including how to properly care for these aging populations.
Adult daycare is one industry that is rising up to the challenge. Many elderly individuals don’t want to live in nursing homes but can’t be left alone without some supervision. Furthermore, loneliness is a rampant issue for elderly populations, so they need social engagement in a safe and supervised setting. Adult daycare centers can provide healthcare services, supervision, and social activity for elderly individuals. This allows them to get everything they need for a good quality of life without losing much of their autonomy.
With all of these benefits, adult daycare services are becoming increasingly popular. According to Global Newswire, the adult daycare industry is currently valued at $842 billion USD and is expected to grow at a compound annual growth rate (CAGR) of 8.5% over the next five years. However, we expect this growth rate to continue until the end of the decade due to the increasing demand for these services. Therefore, this is a perfect time to open up a new adult daycare center, as demand will only increase with time.
