1.1 Definition of the market

Geriatric care is long-term residential care for the elderly, i.e. people aged 65 or older. From one hand, such care is often provided in facilities, where the elderly do not need 24-hour care, but remain unable to live independently, such as assisted living facilities. Their main characteristics are:

the offer of rooms already provided or not.
house cleaning services, laundry and meals
assistance with daily activities (personal hygiene, dressing, eating, and walking)
They are not medical facilities

On the other hand, geriatric care can also be offered in residential care homes and nursing homes for people who need continuous care and help with daily activities. The nursing home is often a permanent residence for a person who cannot take care of themselves, but is not ill enough to need hospitalization [seniorliving]. Both nursing homes and residential care homes provide care and support 24 hours a day, however the main difference is that a nursing home is able to provide a higher level of care [carehome].

In the United Kingdom, the care market for residential care homes and nursing homes is expected to grow by 1% annually, driven by the aging population and the increase in elderly dependency. In 2032, it's expected there will be 13 million people aged 65+, representing 22% of the UK total population.

However, with supply outstripping demand, the market has been characterized for several years by significant challenges. In particular, the slowdown in the creation of new facilities and, lack of financing and recruitment difficulties are central issues.

The UK market is fragmented, with few providers that hold only 15% of all care home beds, while the top 25 account for 31% [Marketbeat]. It means that the care home market is the prevalence of small and medium-sized providers. Moreover, the local authority funding is the first form of revenues of the providers, followed by private payments.

1.2 The global skilled nursing facitily market

In ****, the global skilled nursing facility market, which includes nursing homes, was valued at ***.** billion dollars, instead $***.* billion in ****. The value of the market is expected to reach $***.** billion by ****, with a recorded CAGR of *.*% during the forecast period **** - ****.

The market includes skilled nursing facilities and nursing homes. Both guarantee ...

1.3 The UK care home market

The care home market in the United kingdom is made up by residential and nursing facilities. According to Invoice funding the UK care home market was estimated £*.* billion by **** and between **** and ****, the industry is expected to grow by *.*% annually.

Care home market size UK, ****-****, in billion £ Source: ****

Just as ...

1.4 The effects of the pandemic and energy crisis

Effects on care home occupancy rate

Health care residences, including nursing homes, have been one of the sectors most affected by the COVID pandemic. The causes can be traced back to the presence of elderly people, considered as a highly vulnerable group. A meta-analysis found that the age-specific infection mortality rate ...

2.1 Demographic characteristics

According to the below data, older women are more numerous than older men: the proportion of women is greater than that of men for people over **, and this proportion increases with age. Thus, women between ** and ** years of age represent **% of the people in this age group against **% for men, and ...

2.2 Distribution of the elderly population between nursing homes and care homes

The following table shows the average age in nursing and care homes, UK, ****-****.

Type of facility **** **** **** Residential care home ** ** ** Nursing home ** ** **

Source: ****

The following table shows, instead, the length of stay in residential care and nursing homes, UK, ****-****.

Age group Male Female **-** ans *.* years * years **+ ans *.* years *.* ...

3.1 Structure of the market

In the UK care homes can be of different forms, private or public, and financed by different legal entities. The graph below shows the percentages by which care homes were funded in the UK in ****. The main form of funding is local (***).

Funding sources within UK care homes UK, ****, in percentage Source: ...

3.2 Procurement and prescription of medicines

Procurement

Procurement is done by the care homes from the pharmacies. There are * ways of managing the supply between the pharmacy and the care home:

MDS (***): The medicines are received in large quantities by the pharmacy in large plastic containers. The pharmacy is responsible for unpacking and repackaging the medicines into ...

3.3 Distribution of medical care

Providers and care home managers should take steps to ensure that residents have appropriate and quality primary care and general medical services.

There needs to be good communication between residential care staff and the GP or hospital responsible for the resident's diagnosis. Health care workers and practitioners need to work together ...

4.1 Typology of the offer

Residential care home

The term 'residential' means that people can treat the facility as their home and live there while having access to the many services available on site. Residential care homes usually have their own café and lounge, as well as a garden which allows people to get some fresh ...

4.2 Pricing

Since nursing homes provide a higher level of care than residential care homes, they have higher prices depending also on the type of care needed and the location of the facility. However, both facilities provide care and support ** hours a day.

The average weekly cost of residential care in the UK ...

5.1 Regulatory framework

In England, the Care Quality Commission CQC is the independent body that regulates health and social care. It is the body responsible for inspecting the quality of services and rating care homes and nursing homes around the country. To do this it uses a set of standards called 'Fundamental Standards' which ...

5.2 State subsidies

Support from the NHS (***)

If the need is mainly health-related, the NHS pays for ***% of the nursing home placement or pays for the nursing care costs directly related to other types of retirement accommodation.

Help from the local council

Depending on the area, the local council can help if the resident's ...