Many people spend their later, more-dependent years in a residential aged-care facility. Australia's population is ageing, which means more people will require aged care in the years ahead. However, demand for residential aged-care places will be softened to some extent by an increase in life expectancy, accompanied by later onset of frailty, and by an increase in aged-care services provided in the home and community.
The Accommodation for the Aged industry is expected to generate revenue of $3.78 billion in 2012-13, which will be 2.8% higher than in 2011-12. The industry will also generate value added of $2.63 billion, or about 0.2% of Australia's GDP.
The industry consists of establishments that provide long-term care accommodation or homes for senior citizens where nursing or medical care is not provided as a major service. While hostels predominantly provide low-level care, many also provide some high-level care, often to allow residents to stay in the same facility as their care needs increase.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.