How Large Is the Home Care Industry?
The non-medical home care industry is large and growing.
As the United States population grows, so does the population of seniors and other adults with disabilities, illnesses, or injuries. It has become much more common to hire in-home, non-medical care for these large groups of adults, and Empress Home Care is uniquely positioned to help provide high-quality care.
Before Empress Home Care, the non-medical home care franchise industry didn’t exist. Today, the industry brings in revenues of $89 billion annually, and new brands with catchy names vie for market share. We stand above the rest because our name is something tangible and true: the name of a woman who devoted her entire life to caring for those who needed it most and who lived each day with compassion and kindness as the driving forces of her life.
There is no other brand that has the history of excellence that Empress has, and no brand has a brighter future,” says Matt Murphy, President and CEO of Empress. “We’ve excelled in the home care space for more than three decades, and we’ve completely modernized our franchise system to be hyper-competitive in the 21st-century economy. We want our franchisees to be able to grow their businesses because no other brand can compete with the level of care that we provide and the passion for helping others that our franchisees display on a daily basis.
More seniors need us now than ever before.
The senior home care industry may have more competition today, but the demographics point to an increasing need for even more service providers. In fact, the sheer number of home care companies is a testament to how large demand is.
AARP reports that by 2030, 20% of the population will be aged 65 and older, and 10,000 people are turning 65 every single day in America. That number will continue to rise and will likely increase the demand for home care going forward. The Family Caregiver Alliance (FCA) reports that the number of people who will need long-term care in 2050 will be 27 million, more than double the number who needed those services in 2000.