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Perspective

For Healthcare, Hospitality and Food Service, population volume, age distribution, and geographic location of where people live are overarching drivers and provide necessary background perspective.

POWERFUL IMPACT
Arc Revere solutions are well positioned

The overall population of the world is increasing and the fastest growing age segment over the next seven years is people over 65 years of age. The increase expands the roughly 650 million people in this age bracket today to more than one billion people in 2030 – a 25%+ increase in the number of people over 65 years of age.

 

The age dynamic is important as this age group has the greatest percentage of hospitalization use and consumption of healthcare resources. As an example, in the United States, since 1997 through 2019 data, every year, more than 15% of all persons 65 years of age and older had a reported hospitalization event (compared to 45- to 65-year-olds with 8% and 18- to 44-year-olds with 6%). The overall premise is that older people will require elevated levels of medical care regardless of country. In addition to the critical aspect of the impact of an aging audience on healthcare, research also points to millennials driving a significant uptick as Hospitality and Food Service customers.

 

The combination of aging population and earlier age large-scale hospitality services consumption provides a one-two punch of people in need and people with interest driving significant growth in the Healthcare and Hospitality and Food Service markets.

 

The rapid increase in the aging population is significantly driving the growth of healthcare, tertiary services and the home healthcare market going forward...

The overall population growth drives comprehensive growth in Healthcare and Hospitality and Food Service. The increase in the aging population boosts the demand for healthcare as aged people are more prone to chronic diseases, which is a favorable factor to the healthcare market, and increases the overall reach and need of various health related services. 

 

The increase in the population of older individuals is a major concern in many countries across the globe. From a US perspective, according to the U.S. Department of Health and Human Services, 35% of persons will require care in a nursing facility at some point, with long-term acute care facility and inpatient rehabilitation facility (IRF) stays only adding to that figure. Long term care is a particularly powerful aspect of healthcare to assess.

 

In Hospitality & Food Services, lodging and food and beverage are growing globally. Key factors driving market growth include rising domestic and international travel rates, high demand for accommodations, and enhanced consumer spending. The demand of global Hospitality Market size & share was valued at approximately USD $4 billion in 2021 and is expected to grow above a CAGR of 5% to reach over USD $6.7 billion by 2028.

 

Arc Revere solutions are relevant to all of these subsectors and well positioned to accompany their growth. 

 

The hospitality industry is fast-growing and covers a number of sectors, including the hotel industry, travel industry (including business travel), and restaurants. The trends defining the current landscape of the sector reflect significant opportunities to leverage new technologies. The hospitality industry is experiencing a steady recovery from the effects of the coronavirus pandemic. The market grew to $4.4 billion in 2022 and is expected to exceed $4.7 billion in 2023. Despite inflation and supply chain disruptions, hospitality sectors are expected to continue to grow.

Overall, the current and projected growth of the Healthcare market and its subsectors combined with the global growth of Hospitality & Food Service reveal that this is indeed an interesting market space to explore.

 

However, competitive business to business organizations with healthcare and hospitality and food service focus capabilities are keenly aware of the need for differentiation. Arc Revere brings a focused approach, deep innovation experience and a robust product portfolio  leveraging common applications between Healthcare and Hospitality & Food Services.

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