Market Overview

At 30 June 2023, 258,374 people were accessing a Home Care Package (HCP) across Australia, representing a 20% increase (42,631 people) over the previous 12 months.

  • This is in line with the broader trend seen over the six years of FY18 to FY23, with a compound annual growth rate (CAGR) of 23% for people accessing a HCP.
  • Total government funding for the HCP program in FY23 was $6.84 billion, an increase of 34% from FY22.
  • From FY18–FY23, the average government funding received per provider has grown at a CAGR OF 25%.

*KPMG analysis 2024

Download KPMG Report

Current Territory Opportunities

Queensland
  • 17% of individuals in Queensland’s population (875,603) are aged 65 years or older*
  • Over 6,000 Queenslanders are 65 years or older and born in China.*
  • As of December 2023, a total of 6,972 individuals in Queensland are awaiting the allocation of their home care packages**
Victoria
  • 16.8% of individuals in Victoria’s population (1,092,838) are aged 65 years or older
  • Over 20,000 Victorians are 65 years or older and born in China.
  • As of December 2023, a total of 9,446 individuals in Queensland are awaiting the allocation of their home care packages**

Nationally, 32% of the population is reported to have a long-term health condition

*ABS 2021 consensus data
** Govt HOME CARE PACKAGES PROGRAM Data Report 2nd Quarter 2023-24

Other Industry Factors

Social

Increase in immigrants and cultural and linguistically diverse (CALD) consumers joining the 65K+ population

Legal

Reform in the Aged Care
legislation and regulation

Economic

Increased consumer demand
to stay home as long as possible

Technology

Innovation in aged care industry and adoption of technologies to reduce costs and improve quality of service.