A Growing Market
The in-home care industry is still in its infancy. Within the last couple of decades, the population of the UK aged 65 and older has started to increase at rates never before seen. That growth will not only continue, it will explode.
There are two reasons for this. First, Baby Boomers – the largest section of the UK population – are simply getting older. And people aren't just growing older. They're living longer thanks to an increased commitment to health and wellness, as well as the advancement of medicine. As a result, the average life expectancy continues to lengthen. Since 1960, the average life expectancy has increased by ten years for females and fourteen years for males.
This increased life expectancy will lead to a larger population of seniors, many of whom will need assistance in order to remain independent.
"Since many ageing adults are realizing that treatment can be more effective in familiar settings, the desire to age in place [at home] and live independently for as long as possible has created a dynamic home care industry, including a variety of providers."
— recent MetLife study on ageing
Life Expectancy
According to the Office for National Statistics Online 2009 the total life expectancy for a man in 1960 was 65 years. For women, it was 71.8 years. In 2010, the average life expectancy for a man is 79.4 and 81.6 for a woman.
Ageing UK
The following statistics are from the Office for National Statistics:
- 12.4 million – number of UK residents aged 65 or over in 2009.
- 23% - Percentage of UK residents who will be 65 or older by 2034.
- 3.5 million – Number of UK residents who will be age 85 and older by 2034.
- 16.5 million – Number of UK residents who will be age 65 and older by 2020.
- 4 million – Number of seniors (65 or older) who currently live alone in the UK.
- 18.7 – Number of years over 65 the average UK resident lives.
- 66% - Percentage of the population who will need assistance with one or more activities of daily living (ADLs) by 2038.
I purchased my Right at Home franchise when I was 31. At 40 years old, I consider myself one of the luckiest men in the world.
Paul Blom, Right at Home Franchisee
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