The global long term acute care market size was worth around USD 2.8 trillion in 2021 and is predicted to grow to around USD 4.6 trillion by 2028 with a compound annual growth rate (CAGR) of roughly 6.85% between 2022 and 2028.
The global long term acute care market size was worth around USD 2.8 trillion in 2021 and is predicted to grow to around USD 4.6 trillion by 2028 with a compound annual growth rate (CAGR) of roughly 6.85% between 2022 and 2028.
The report analyzes the global long term acute care market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the market.
Long term acute care is related to medical or treatment facilities dealing with patients suffering from serious medical conditions and requiring medical care for a longer duration but do not need intensive care or exhaustive diagnostic procedures. The treatment for the disease they are suffering from is generally longer as compared to other diseases requiring the patient to stay for more time at the facility but not under intense care. Medical centers providing long term acute care (LTAC) are generally located within the walls of hospitals treating acute illnesses, but they mostly function independently and require a special license to have a separate governing body.
There are cases where LTAC service providers exist as standalone facilities in which case they may offer certain outpatient services like radiology procedures, or other laboratories. Regions across the globe are witnessing a rising trend of unique and special medical cases, there are numerous medical discoveries taking place every day. In such circumstances, it becomes important that there should be dedicated facilities that cater to the specific needs of patients suffering from long-term illnesses. Since long term acute care facilities or hospitals do not have to worry about other patients, they can completely devote their resources and services to taking care of patients needing intensive care.
This makes the whole process extremely cost-effective since there is minimal overhead. As per the official standard, only patients that need hospital care for more than 25 days are considered for admission to LTAC units. The average stay length at these units is 30 days.
Generally, patients who are undergoing dialysis for chronic renal failure, the ones requiring multiple intravenous transfusions or medications, intensive respiratory care, long term, and continuous ventilator assistance, or patients with complex burns or wounds are admitted under long term acute care.
The global long term acute care market cap witnessed significant growth during 2020 owing to the onset of Covid-19. The virus was extremely unpredictable due to its high mutation rate, and the varied impact it had on the health of infected people. Even though the symptoms of the virus were common amongst the population, its negative impact was different on every patient depending on the immunity level and other presence of other medical conditions. In some cases, the impact lasted for a longer time and patients had to be admitted for acute health failure.
Growing number of patients requiring LTAC to propel market growth
The global long term acute care market is expected to register significant growth owing to the drastic increase in the number of patients who suffer from acute disorders and require extensive medical care. One of the major causes of longer medical admissions where patients need constant medical monitoring is chronic kidney disease (CKD) and the number of patients suffering from CKD has grown to huge numbers in recent times.
As of 2022, more than 1 in every 7 individuals is affected by CKD in the USA which is approximately 15% of adults residing in the country. CKD is an extremely common medical condition affecting almost 10% of the world population and if the condition is neglected it may have huge implications on a patient's health. The global market growth trend is also driven by the rise in the number of cardiovascular diseases (CVDs) like coronary heart disease, peripheral arterial disease, and others. The cause of the disease ranges from genetic conditions to lifestyle and food habits. As per the World Health Organization (WHO), more than 17.9 people died due to CVDs in 2019 which is around 32% of the global death toll.
High cost of treatment to restrict the market growth
Long term acute care is for patients who need constant medical attention over a long period. Generally, this is for medical conditions that require expensive medicines, along with frequent visits to diagnostic centers, doctor appointments, etc. which increases the overall cost of the medical treatment. The final cost may reach higher values when the patient has to be admitted to the hospital facility requiring dialysis, ventilator support, IVs, and other forms of medicinal help resulting in an increased financial burden which may restrict the global market growth trend.
Growing demand for postoperative care to provide market expansion opportunities
In many operative procedures, a patient will require prolonged medical attention after surgeries even though it may not be necessarily in the ICU. To cater to these needs, hospitals and medical facilities are putting in constant efforts to incorporate long term acute care centers within the facility. LTAC units have often been considered the right choice for patients with extreme illness since the staff present specialize in dealing with trauma-based medical conditions which may create global long term acute care market growth opportunities during the projection period.
Lack of sufficient skilled staff to challenge market growth
High medical and technical skills are required to cater to the needs of patients admitted to ICU, and other acute care units. There is a gap between the number of skilled professionals needed to meet the growing demand for such medical staff in long term acute care facilities. This could be due to a lack of training or education resources, along with other factors which may challenge global market expansion by 2028.
The global long term acute care market is segmented by facility type, medical care, service, and region.
Based on facility type, the global market is divided into specialized hospitals, general acute care hospitals, rehabilitation hospitals, and psychiatric hospitals. With the growing research in the psychiatric field, the number of psychiatric hospitals has also been rising considerably. As of December 2021, there were around 575 registered psychiatric hospitals in the USA.
Based on medical care, the global market segments are short-term stabilization, emergency care, trauma care, acute care surgery, and others. Emergency care led the segment in 2021 with over 7.25% of the global market share. Healthcare professionals handling cardiovascular cases, infections, injuries, burn, and wound trauma cases play a significant role in the segmental growth.
Based on service, the global market segments are neonatal intensive care unit (NICU), intensive care unit (ICU), coronary care unit (CCU), and others. ICU dominates the segment owing to the increasing number of ICU admission. As per estimates, over 5 million people are admitted under intensive care every year, in the USA.
Report Attribute | Details |
---|---|
Base Year | 2022 |
Historic Years | 2018 - 2022 |
Forecast Years | 2023 - 2030 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
North America to generate the highest revenue during the forecast period.
The global long term acute care market is expected to be driven by North America in the coming years owing to advanced medical care in nations like the USA and Canada. The governments of these regions spend heavy amounts on upgrading the medical infrastructure which is also aided by the support and investments received from private companies, pharmaceutical, and healthcare giants. The healthcare spending in Canada was around USD 8000 per person in 2021. The excellent medical reimbursement processes, as well as highly inclusive insurance schemes, may also lead to higher revenue generation.
Asia-Pacific is expected to grow significantly owing to increased initiatives undertaken by regional governments to enhance medical facilities and cater to the growing demand for high-quality medical care. The high demand may be driven by the rising population in regions like China, India, Japan, and others resulting in higher accidents which subsequently increase the number of patients under long term acute care. Looking at the regional market potential, many international firms are finding the Asia-Pacific market lucrative for improving their global footprint. Europe may be projected to grow steadily over the forecast period because of healthcare systems in Denmark, France, and Germany to name a few that are constantly innovating in the healthcare field.
The global market is dominated by players like Fresenius Medical Care AG & Co. KGaA, TH Medical (Tenet Healthcare Corporation), Ascension, Asklepios Kliniken GmbH& Co. KGaA, Ramsay Health Care, IHH Healthcare Berhad, Universal Health Services, Inc., Mediclinic International, Community Health Systems, Inc., Lifepoint Health, Inc., and Ardent Health Services.
By Facility Type
By Medical Care
By Service
FrequentlyAsked Questions
The global long term acute care market is expected to register significant growth owing to the drastic increase in the number of patients who suffer from acute disorders and require extensive medical care.
According to Zion Market Research, the global long term acute care market size was worth around USD 2.8 trillion in 2021 and is predicted to grow to around USD 4.6 trillion by 2028 with a compound annual growth rate (CAGR) of roughly 6.85% between 2022 and 2028.
The global long term acute care market is expected to be driven by North America in the coming years owing to advanced medical care in nations like the USA and Canada. The governments of these regions spend heavy amounts on upgrading the medical infrastructure which is also aided by the support and investments received from private companies, pharmaceutical, and healthcare giants.
The global long term acute care market is dominated by players like Fresenius Medical Care AG & Co. KGaA, TH Medical (Tenet Healthcare Corporation), Ascension, Asklepios Kliniken GmbH& Co. KGaA, Ramsay Health Care, IHH Healthcare Berhad, Universal Health Services, Inc., Mediclinic International, Community Health Systems, Inc., Lifepoint Health, Inc., and Ardent Health Services
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