The Silver Series II: Homecare and Assisted Living

Executive Summary

• This is the second report in our series on consumers aged 65 and older and their impact on economies, industries and companies worldwide.
• Some seniors need specific care as a result of illness or disability, but many also look to in-home care or assisted living to help them deal with everyday living.
• We estimate that global public spending on long-term health and social care totaled approximately $1.40 trillion in 2015, and we expect it to reach nearly $1.71 trillion in 2020.
• On average, across 12 major economies, spending on long-term care accounts for around 1.7% of GDP.
• More seniors are using care services overall, but we seem to be seeing a gradual global shift away from institutional care and toward in-home care.
• The move toward in-home care has prompted the development of new technology products and services that enable seniors to live independently for longer, and families to participate more directly in administering care to their elderly loved ones.