Home again: A growing elderly population will increase demand for industry services

There has been a growing trend of health consciousness in the general public, as the population is putting a greater premium on their health and comfort. Compounding this is the aging population, with the number of adults 65 and older increasing. Healthcare services are in greater demand than ever. The industry has benefited from this trend, as increased health expenditure has provided a boost to the entire healthcare sector and caused revenue growth in this industry. Despite some uncertainty surrounding the finalization of a new National Health Accord, IBISWorld forecasts industry revenue to grow over the next five years...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
3.2%
Forecast Growth 18-23
Profit
Employment
66,329
Businesses
2,681

Industry Threats & Opportunities

  • A rising elderly population will continue to benefit the industry
  • Pressure across the healthcare system to reduce costs has limited the industry's profitability somewhat
  • The industry will introduce more services that address issues faced by the senior population
  • Industry Report - Starting a New Business Chapter

    There are moderate barriers to entry for the Home Care Providers industry in Canada, as evidenced by the relatively large number of industry players. The industry is highly fragmented, with more than 2,600 different operators, most of which command less than 1.0% market share. While a few companies hold significant market share positions, the industry is largely characterized by regional and local providers. Most segments of this industry are characterized by low capital costs and the personalized nature of the services provided. These low capital costs make it relatively easy for a new operator to enter the industry because instead of large upfront investments in equipment or property, most industry costs are limited labour and purchase expenses. Pot...purchase to read more.

    Additional Insights for the Home Care Providers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Home Care Providers Industry are

  • Recommendation/accreditation from authoritative source
  • Proximity to key markets
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Total health expenditure and Number of adults aged 65 and older in the Home Care Providers industry impact industry performance..

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    What's in this report

    What is the Home Care Providers Industry?

    This industry primarily provides skilled nursing services in the home, combined with a range of other home services such as personal care services, homemaker and companion services, physical therapy, medical social services, dietary and nutritional services, speech therapy, audiology, medications and intravenous therapy. While most home care services are provided by publicly managed agencies, only those services delivered by private operators are counted in this industry.

    Industry Products
  • Traditional home health and nursing care
  • Home hospice
  • Home therapy services
  • Homemaker and personal services
  • Industry Activities
  • Providing homemaker and companion services
  • Providing home hospice care
  • Providing home nursing care
  • Providing in-home therapy
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Total health expenditure
  • Number of adults aged 65 and older
  • Per capita disposable income
  • Adult obesity rate

  • Current Performance
  • Demographics and demand
  • Consolidation and specialization
  • Chart: Revenue Growth

  • Industry Outlook
  • Older and older
  • Funding pressures
  • Table: Home Care Providers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Home Care Providers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Health & Medical Insurance in Canada
  • Hospitals in Canada
  • Nursing Care Facilities in Canada
  • Retirement Communities in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Brand-Name Pharmaceutical Manufacturing in Canada
  • Generic Pharmaceutical Manufacturing in Canada
  • Medical Device Manufacturing in Canada
  • Medical Instrument & Supply Manufacturing in Canada
  • Vitamin & Supplement Manufacturing in Canada

  • Products & Services
  • Traditional home health and nursing care
  • Home hospice
  • Home therapy services
  • Homemaker and personal services
  • Other
  • Chart: Home Care Providers Industry Products and Services Segmentation

  • Demand Determinants
  • Affordability
  • Aging population

  • Major Markets
  • 75 to 84 years
  • 55 to 64 years
  • 65 to 74 years
  • 45 to 54 years
  • 85 years and older
  • 25 to 34 years
  • 15 to 24 years
  • 35 to 44 years
  • Chart: Major Market Segmentation for the Home Care Providers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesOther
  • Chart: Cost Structure Benchmarking – Sector vs Home Care Providers

  • Basis of Competition
    Price, quality and reputationServices substitutes
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Home Care Providers Industry

  • Industry Globalization
    ParaMed Home Health Care, Bayshore, CBI Health Group Inc.,
  • Table: ParaMed Home Health Care - financial performance
  • Table: Bayshore - financial performance
  • Table: CBI Health Group Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Home Care Providers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Home Care Providers Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Total health expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Canada Health Transfer (Cht)
  • The money that the federal government transfers to provinces and territories to help pay for healthcare.
  • Durable Medical Equipment (Dme)
  • Medical equipment used in the course of treatment or home care.
  • Hospice
  • A program or facility that provides special care for people who are near the end of life and for their families.
  • Telehealth
  • The delivery of health-related services and information between patients and providers via telecommunications technologies.
  • What Our Customers Say

    Why buy this report?

    The Home Care Providers market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Home Care Providers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Home Care Providers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Home Care Providers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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