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2024 U.S. Industry Statistics & Market Forecast - Services for the Elderly and Persons with Disabilities
Market Size & Industry Statistics
The total U.S. industry market size for Services for the Elderly and Persons with Disabilities:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Services for the Elderly & Persons with Disabilities industry is experiencing key trends that are shaping the landscape of care for these vulnerable populations. One trend is the adoption of technology in care delivery. Digital platforms are being used to provide home-based care, telehealth, and remote monitoring. With the increasing availability of telemedicine and wearables, patients are now able to receive care from the comfort of their homes, while providers can monitor their health remotely.Another trend is the integration of care. There is a growing need for a more holistic, patient-centered approach to care that addresses the medical, social, and psychological needs of seniors and people with disabilities. This has led to the integration of different types of care and services, such as housing and transportation, to establish a coordinated care model.
Moreover, the industry is also focusing on enhancing the quality of life for seniors and people with disabilities. There is an increasing emphasis on person-centered care planning, which seeks to align care goals with the individual’s values and preferences, as well as promoting independence and socialization within the community.
Another issue facing the industry is workforce shortages. This has led to the development of innovative staffing models, such as shared staffing and advanced practice roles, to address the gap.
Overall, these trends present both opportunities and challenges for the Services for the Elderly & Persons with Disabilities industry, driving the need for continued innovation and adaptation to meet the evolving needs of patients and families.
Product & Services Breakdown
Research products and services in the Services for the Elderly and Persons with Disabilities industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Child Day Care Services |
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Pre-Primary Grade Instructional Programs (Include Preschool Programs Combined With Child Day Care.) |
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Foster Care And Guardianship Arrangement Services |
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Counseling And Information Services For Children, Youth, And Families |
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Other Counseling And Information Services For Children, Youth, And Families |
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Other Social Assistance Services For Children, Youth, And Families |
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Social Assistance Services For Elderly And Disabled Adults |
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Prepared On-Site Meals For Elderly And Disabled Adults (I.E., At Senior Centers) |
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Non-Medical Home Aide Services For Elderly And Disabled Adults - Homemaker Services (Include Prepared Meals And Delivered Meals. |
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Non-Medical Home Aide Services For Elderly And Disabled Adults - Personal Care Services |
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Vocational Rehabilitation Services For Elderly And Disabled Adults |
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Adult Day Care Services For Elderly And Disabled Adults |
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Social Interaction Services For Elderly And Disabled Adults, On-Site (Include Senior Centers.) |
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Counseling And Information Services For Elderly And Disabled Adults |
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Other Social Assistance Services For Elderly And Disabled Adults |
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Social Assistance Services For The General Population, Excluding Children, Youth, Families, And Elderly And Disabled Adults |
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All Other Receipts |
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All Other Operating Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Investment Income, Including Interest And Dividends |
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All Other Revenue |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Services for the Elderly and Persons with Disabilities company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Services for the Elderly and Persons with Disabilities industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Services for the Elderly and Persons with Disabilities measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 2% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Support Occupations | 84% | |||
| Home Health and Personal Care Aides; and Nursing Assistants, Orderlies, and Psychiatric Aides | 84% | |||
| Home Health and Personal Care Aides | 82% | |||
Services for the Elderly and Persons with Disabilities Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Services for the Elderly and Persons with Disabilities industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Services for the Elderly and Persons with Disabilities industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Services for the Elderly and Persons with Disabilities industry. |
Source:
Innovation News
- Jan 28, 2024: Peak Performance Training Centers trademarks "EMPACTT COGNITIVE TOOLS FOR SELF-RELIANCE AND TRANSFORMATION" - Educational services
- Jan 12, 2024: Cof Training Services trademarks "INTEGRATED EMPLOYMENT ENTERPRISES" - Business consultation to organizations and agencies that employ people with disabilities in the field of legislative and regulatory affairs; public relations and marketing services; employment services
- Dec 19, 2023: Services & Advocacy For Gay Lesbian Bisexual & Transgender Elders trademarks "EQUALITY NEVER GETS OLD" - educational services
- Nov 22, 2019: Asi raises $8 million in funding.
- Jan 10, 2019: Asi raises $21 million in funding.
- Jul 28, 2016: Center For Independent Futures patents Goal Management System And Methods Of Operating The Same
Recent Federal Contracts for Services for the Elderly and Persons with Disabilities- Mar 29, 2024: FREEDOM 2 GO SCHOOL TRANSPORTATION INC. (Cleveland, OH) awarded $83,950
- Mar 28, 2024: PRECISION RECEIVABLE SERVICES, LLC (Baldwin, NY) awarded $660,864
- Mar 21, 2024: PLANNING, ARRANGEMENTS, LOGISTICS SPECIALISTS, LLC (Washington, DC) awarded $64,651
- Mar 21, 2024: PALM FEDERAL LLC (Riviera Beach, FL) awarded $33,000
- Mar 18, 2024: SERVICE SOURCE, INC (Oakton, VA) awarded $9,624,801
- Mar 05, 2024: CRI FEDERAL SERVICES (Houston, TX) awarded $10,601,210
- Mar 29, 2024: FREEDOM 2 GO SCHOOL TRANSPORTATION INC. (Cleveland, OH) awarded $83,950
- Mar 28, 2024: PRECISION RECEIVABLE SERVICES, LLC (Baldwin, NY) awarded $660,864
- Mar 21, 2024: PLANNING, ARRANGEMENTS, LOGISTICS SPECIALISTS, LLC (Washington, DC) awarded $64,651
- Mar 21, 2024: PALM FEDERAL LLC (Riviera Beach, FL) awarded $33,000
- Mar 18, 2024: SERVICE SOURCE, INC (Oakton, VA) awarded $9,624,801
- Mar 05, 2024: CRI FEDERAL SERVICES (Houston, TX) awarded $10,601,210
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