Growth among care companies has made the care economy a $648B annual market.1 While the opportunity in care is already formidable, we believe it is still just the beginning.
Consumers are increasingly more open to spending on care solutions, institutional payers are investing in making families lives easier for a number of compelling reasons, and the government is playing a bigger role in unlocking private sector opportunity. In other words, we’re at the tip of the iceberg in this market–early adopters are enjoying the time, space, and joy freed up from paying for products and services that make their lives easier, and the next wave of care consumers is poised to join them. Based on the findings from our recent survey
, under the right conditions, up to 54M consumers could enter the care market or shift from occasional to routine use of paid care.2
And here’s one more exciting finding from our first-of-its-kind market research: the care consumer is not who you think it is. Yes, women are a key target consumer; mothers and daughters of aging parents continue to be pivotal in shaping the care market. But fathers are also ready to jump in like never before, as are families of a wide variety of demographic backgrounds. The breadth of the potential market is far bigger than previously imagined.