Process and Timeline
- There are currently 48 million people over the age of 65 in the US. This number is expected to reach 80 million by 2030.
- In 2018 the senior population in the US was 14% of the total population. This is expected to reach 21% by 2030, and 25% by 2060.
- The number of Americans retiring daily has more than doubled since the year 2000. Currently, roughly 10,000 people turn 65 each day.
- Today, over $105 billion are spent on home health care in the United States, and that number will reach nearly $173 billion by 2026.
An aging population means that the number of people requiring assistance will continue to rise. This demographic trend, coupled with seniors’ preference to stay at home and the high cost of alternatives such as nursing homes and assisted living facilities, will drive exponential growth in the in-home health care industry. The home health care industry is by nature stable and recession-proof because healthcare spending is non-discretionary