According to a 2018 U.S. Census Bureau report, in 2035 “there will be 78.0 million people 65 years and older compared to 76.4 million under the age of 18.” In other words, the elderly population will outnumber children for the first time in the country’s history — a demographic shift that poses a unique set of public health challenges.
The number of Americans retiring daily has nearly doubled since the year 2000. Currently, roughly 10,000 people turn 65 each day, the standard age for retirement.
Over the five years to 2019, industry revenue is expected to grow at an annualized rate of 3.7% to $99.4 billion, including an increase of 5.8% in 2019 alone.2
1) National Association for Home Care & Hospice, 2010.
2) IBIS World – Home Care Providers Industry in the US – Market Research Report, 2019.