IMARC Group, a leading market research company, has recently releases report titled “Long Term Care Market Report by Service (Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities, and Others), Gender (Male, Female), Payer (Public, Private, Out-of-Pocket), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How Big is the Long Term Care Market?
The global long term care market size reached US$ 1,079.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,748.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.
Industry Overview of Long Term Care
Long term care represents several services that assist individuals with cognitive or functional limitations in performing activities of daily living (ADLs), which include eating, walking, grooming, bathing, dressing, using the toilet, etc. They comprise of conventional health services, such as rehabilitation, management of chronic geriatric conditions, palliation, etc., and even cover certain community services, including adult day care, meals, transportation services, etc. As a result, long term care solutions are in high demand among consumers across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/long-term-care-market/requestsample
What are the growth prospects and trends in the long term care industry?
The rising geriatric population afflicted with diabetes, arthritis, pulmonary illnesses, age-related hearing loss, dementia, Alzheimer’s, etc., is primarily driving the long term care market. Besides this, the growing number of children suffering from cerebral palsy, down syndrome, and other developmental disorders is also positively influencing the global market.
Moreover, the increasing risk of losing functional capacity among adults who have encountered road accidents and the shifting preferences towards continuity of physician-directed care provided by licensed nurses and practitioners after discharge from the hospital are acting as significant growth-inducing factors.
Additionally, the elevating usage of advanced technologies, such as wander management systems, call systems, nonslip footwear, hip protectors, etc., by the key market players to provide comprehensive assistance is expected to propel the long term care market over the forecasted period.
Leading Companies Operating in the Global Long Term Care Industry:
- Amedisys Inc.
- Atria Senior Living Inc. (Wickshire Senior Living)
- Brookdale Senior Living Inc.
- Diversicare Healthcare Services Inc.
- Extendicare Inc.
- Genesis HealthCare
- Home Instead Inc. (Honor Technology Inc.)
- Kindred Healthcare (LifePoint Health Inc.)
- LHC Group Inc. (UnitedHealth Group Incorporated)
- Sonida Senior Living Corporation
- Sunrise Senior Living (Revera Inc.)
- Trinity Health
Long Term Care Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Service:
- Home Healthcare
- Hospice
- Nursing Care
- Assisted Living Facilities
- Others
Breakup by Gender:
- Male
- Female
Breakup by Payer:
- Public
- Private
- Out-of-Pocket
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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