It’s estimated the global healthcare market will be worth £7.7 trillion by 2022 with an annual growth rate of 5.4% between 2017 and 2022, an increase of 2.5% compared to the previous five years.
Between 2017 to 2018, over £17.7 billion was spent on adult social care by local councils in the United Kingdom. This is an increase of 2.5% which was an increase of £402 million on the previous year. As demand grows, local council spending on adult social care will continually be required to adapt to levels of need.
Whilst the population of the UK is predicted to increase year-on-year over the next century which includes the demographic of elderly citizens, trends show that birth rates are falling.
Demand in the over 50 demographic is growing, with nine out of ten people stating they would rather receive care in their home than move into residential care.
This experience and knowledge set’s us apart and as a result, enables us to be better equipped to adapt and respond to the changing needs of the homecare sector.
Since 2019 to date Kare Plus has delivered 1,018,010 hours of care and support to customers in their own homes, but this demand is rapidly expanding as our population grows, so will the demand on public healthcare services and now is the perfect time to establish a business that can capitalise on the growing need for homecare services.
The main contributor to the increase of care hours is due to the ever-expanding number of Kare Plus businesses who are offering homecare services. As you can see from Figure 2. The number of homecare businesses in the Kare Plus network has gone up over 700% since 2015 with over 60% of the network now delivering homecare services.
