£59.4 billion (at 2008 prices): Domiciliary Care
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After researching the UK domicliary care market development and taking into account various other factors the following conclusions can be drawn from MBD’s report:
MARKET REVIEW 2004-2008:
The UK market for domiciliary care is believed to have increased year-on-year between 2004 and 2008. Indeed, demand increased by an estimated 2% to £52.7 billion in the latest year under review, equivalent to a cumulative increase of 13% compared with 2004. The positive market development is a partial reflection of Government initiatives to promote independent living, in line with continued emphasis of reducing demand for residential care through the provision of improved domiciliary services. Furthermore, the market has inevitably benefited from the demographic trend of an aging population in the UK. However despite the Government’s promotion of independent living amongst older people, figures show that the number of official receivers of homecare is on the decline, although the average value of contracts has increased.
MARKET FORECAST 2009-2013:
The UK domiciliary care market is expected to increase in real terms throughout the five year forecast period up to 2013, with annual growth levels anticipated to fluctuate between 2% and 3% in real terms. In 2013, the value of the market is anticipated to reach £59.4 billion (at 2008 prices), representing overall growth of 13% in real terms compared with 2008. The market is expected to benefit from the demographic trend towards an ageing population and the social trend towards older people wanting to remain in their own homes. Demand for domiciliary care services is also expected to be particularly boosted by Government initiatives to promote independent living and the increased investment into extra-care housing.
