Australasian Academy (AA) is the only private higher education institution in Sri Lanka to offer an Australian Aged Care course. In partnership with Australian National Institute of Business and Technology (ANIBT) one of the leading and well established higher educational institutions in Melbourne Australia, AA offers aged care (Individual Support) and Ageing Support qualifications.
Aged care sector has been growing in the developing world for over three to four decades. The ageing population has been increasing at a rate that the demand of aged care centers and personnel to provide care and support is also increasing at a higher rate. At present a similar trend is visible in newly developed and developing countries where the access to health care and better quality of life has increased the life expectancy of population in many countries around the globe.
Global Elderly Care (Aged Care) Market
The global elderly care product and service market size in 2019 was US $ 832.8 Billion. The sector is expected to grow at 3.9% from 2020 to 2025. Aged care or Elderly care is often referred to as senior care is a specialized care that is designed to meet the needs and requirements of senior citizens at various stages. As such elderly care is a broader term, as it encompasses everything from assisted living and nursing care to adult day care and home care. Increasing geriatric population and the growing awareness among consumers regarding home care services is a significant factor fueling its market growth. Also, various government organizations are supporting this industry, thus fueling market growth.
For instance, in Australia the government funds offer an Aged Care Approval Round (ACAR) and similar other programs to help service providers to grant or build their facilities.
According to the United Nations, it has been estimated that in 2017, there were approximately 962.3 million of aged people of 60 years or older people worldwide. Further it has been estimated that it will increase to 2080.5 million. Increase in the population worldwide will require high elder care and hence the market growth may increase in future.
Demand for Aged Care Workers (Long Terms Care Workforce – LTC)
Across developed and Developing countries, long-term care (LTC) systems are under pressure to adapt. The demand for services for older people will very likely increase, raising concerns over sustainability. As a labor-intensive sector, the productivity and sustainability of LTC services highly depends on an effective and efficient workforce. Achieving the latter is an important challenge, especially since the beginning of the COVID-19 pandemic.
For the first time in human history, there are more old than young—a trend that will only grow as longevity continues to increase and birth rates decrease.
Wanted – More Caregivers
Globally there is a huge demand for trained caregivers to take care of the elderly who are not able to attend to their day to day life alone. The rapid growth of the ageing population in Countries such as USA, Australia, Canada, UK, Japan, Singapore and European Nations has created a demand for professionally trained caregivers.
The miracle of longevity means hundreds of millions of people around the world are living longer, healthier and more productive lives. Yet, longevity also increases the likelihood individuals will someday need assistance with the tasks of everyday life.
The Growing Caregiver Gap
Unalterable demographic certainties are driving a surge in demand for caregivers. However, at this very moment of growing need, the world is experiencing an acute and expanding shortage of professional care workers.
- Across OECD countries, the number of elder care workers will need to increase by 60% by 2040 to maintain the current ratio of caregivers to older people. That is equal to a needed supply of 13.5 million new workers.
- In Germany, need for care increased 34% between 2015 and 2018, with 76% of care taking place in the home. These needs will continue to grow, and one study projects a current shortfall of 120,000 care workers.
- Singapore needs to grow its direct care workforce by 130% over the next 10 years in order to serve its rapidly aging population.
- Hong Kong projects it will need an additional 240,000 workers to provide care over the next three decades.
- In the United States, a national shortage of 151,000 care workers will exist by 2030, and a 355,000-caregiver shortfall by 2040
- In Australia the demand for aged care workers have increased threefold and the current shortfall of caregivers in Australia will be around 110,000 in 2030 and estimated to increase up to 400,000 by 2050.
These are some of that facts that clearly shows the career opportunities that an individual will land if he or she obtain a globally recognized aged care qualification. This is one of the professions that once you qualify there is no licensing required to practice as a caregiver.
If you are looking for a lucrative career in an overseas country this is the time to take a bold decision and look at industries which are growing in demand and skill gap increasing at the same time. This provides you with an opportunity not to be missed.
Please visit Australasian Academy and find out more about Australian Qualifications in Aged care. Contact us on 0766 895 896, 0761 390 242, 0761 390 244 or 0761 390 245.