Care Homes is an institution which provide accommodation and personal care for people who need extra support in their daily lives. Personal care might include help with eating, washing, dressing or taking medication. Some care homes also offer social activities such as day trips or outings.
The UK is an ageing population, celebrating over 10 million aged 65 and older, outnumbering those aged 16 and under with the baby boomer generation (1946-1964) reaching retirement age, the demand for residential and nursing homes is at high demand. Currently, 400,000 people are living in care homes, and over 800,000 people living with Dementia. By 2021, this will rise to 1 million, and be more than double by 2050.
They’re currently 400,000 people living in care homes, and due to the over 85-year-old demographic being the fastest growing age group, due to health, diets and preventative care, it is predicted this will grow by 106% to over 2.6 million by 2030.
With the mortality rate in the UK, drastically rising, there is a dramatic increase in demand for specialist dementia and nursing care. The care home market will play a significant role in our future society, with increasing demand for quality accommodation, care and funding.
The combined market value for older people in the UK is currently estimated to be worth £22.2 billion, of which £13.4 billion is attributable to residential care. As the number of elderly people with high care needs in the UK is expected to increase over the next 20 years, the need for modern, fit for purpose care homes is increasing rapidly.