Future care: growing the care market: turning a demographic challenge into an economic opportunity

Document type
Report
Corporate author(s)
Carers UK (Organization)
Publisher
Carers UK
Date of publication
1 April 2012
Series
Future care
Subject(s)
Social Work, Social Care and Social Services, Older Adults
Collection
Social welfare
Material type
Reports

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This report looks at how the demographic challenge of an ageing population can become and economic opportunity for growth through expansion of the care market. Failures in social care are currently acting to stifle economic productivity. Over a million people, often at the peak of their careers, are being forced to give up work or reduce working hours to care for an ill or disabled loved one. The combination of childcare and eldercare, particularly distance caring is also significantly adding to workplace stress and absence, at a cost to individuals, businesses and the economy. However, there is increasing demand from families willing and able to buy care, from service-users with personal budgets, and from employers who see a sufficient supply of care services as essential to retaining employees with caring responsibilities. Stimulation of the care market can not only help to meet demand but can turn the challenges of an ageing population into a driver for economic growth – with new opportunities for existing providers, small scale start-ups and health and care technologies.

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