LONDON, Dec. 30, 2015 /PRNewswire/ --
The Australian aged care market was worth A$ billion and is expected to grow at an annual rate of four per cent for the next five years (2015-2020). Of the total market, A$ billion was provided by the federal government, while the remainder of A$ billion was privately funded by companies and residents. The public and private aged care market segments are equally attractive. The private market captures per cent of the overall market and is highly profitable but equally fragmented.
In the last year, Japara Holdings, Regis Healthcare Limited, and Estias—three key companies in the aged care sector—launched their Initial Public Offerings (IPOs); this trend is expected to continue in 2015. In the public aged care segment, a major disruption in terms of the aged care choices available and the quality of care delivered is expected. After July 2015, the new Consumer Directed Care (CDC) will add over pensioners, all of whom will benefit from the revised pension scheme. It is anticipated that many of the new pensioners will opt for residential care homes or short-term care as the financial burden lessens.
In February 2017, more than people receiving annual home care packages will be able to choose their care provider. In July 2018, the government will establish a single home-care programme to supply advanced care services to more than elderly people per year. The Australian mainland is made up of five federated states and three federal territories; the sixth state is the island of Tasmania. New South Wales, Victoria, Tasmania, and South Australia have the highest percentage of senior populations.
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