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RELEASED: APRIL 2008
After researching the UK domicliary care market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2003-2007:
The UK market for domiciliary care increased by an estimated 4% to £51.91 billion in 2007. Prior to that annual growth levels fluctuated between 3% and 6% in the period 2003 to 2006. Overall the value of the market is believed to have increased by a cumulative 18% during the five year review period. The positive market development is a partial reflection of government initiatives to promote independent living, in line with continued emphasis of reducing demand for residential care through the provision of improved domiciliary services. Furthermore, the market has also benefited from the demographic trend of an ageing population. However despite the government’s promotion of independent living amongst older people, figures show that the number of official receivers of homecare is on the decline, although the average value of contracts has increased.
MARKET FORECAST 2008-2012:
The UK domiciliary care market is expected to increase in real terms throughout the five year forecast period up to 2012, with annual growth levels anticipated to fluctuate between 2% and 3% in real terms. In 2012, the value of the market is forecast to reach £59.56 billion (at 2007 prices), representing overall growth of 15% in real terms compared with 2007. The market is expected to benefit from the demographic trend towards an ageing population and the trend towards older people wanting to remain in their own homes. Demand for domiciliary care services is expected to be boosted in particular by government initiatives to promote independent living and the increased investment into extra-care housing.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Domicliary Care Market Research Report
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