|Market Size in 2019||Market Forecast in 2026||CAGR (in %)||Base Year|
|USD 913.8 Billion||USD 1,433.9 Billion||6.8%||2019|
Long-Term Care Market
According to the report, It is anticipated that the global demand for the long-term care market would create revenue of roughly USD 1,433.9 billion by the end of 2026, rising at a CAGR of nearly 6.8% between the years 2020 and 2026. In 2019, the market for long-term care was valued at approximately USD 913.8 billion.
The report covers forecasts and analyses for the long-term care market on a global and regional level. The study provides historic data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million). The study includes drivers and restraints for the long-term care market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the long-term care market on a global as well as regional level.
In order to give the users of this report a comprehensive view of the long-term care market we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis in order to give a broader overview of the key players in the long-term care market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new indication launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the long-term care market on a global and regional basis.
The study provides a crucial view of long-term care by segmenting the market based on service and region. All the segments of the long-term care market have been analyzed based on present and future trends and the market is estimated from 2016 to 2026.
The global demand for long-term care market is driven by growing cases of disability, lack of skilled nursing staff, increasing prevalence of chronic diseases, aging baby boomers, and extended life expectancy. However, lack of awareness and high cost may act as restraining factors for the market growth in the coming years. Increasing collaboration and technological advancements are projected to bring new growth avenues for market players during the forecast timeframe.
The long-term care market has been divided into service and region. Based on service, the global long-term care market is segmented into hospice, home healthcare, assisted living facilities, nursing care, and others. The market was dominated by the nursing care service segment in 2019 and is projected to retain its dominance over the forecast timeframe. This is because nursing care is offered in a large number of facilities.
|Report Attributes||Report Details|
|Report Name||Long-Term Care Market Research Report|
|Market Size in 2019||USD 913.8 Billion|
|Market Forecast in 2026||USD 1,433.9 Billion|
|Growth Rate||CAGR of 6.8%|
|Number of Pages||255|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Brookdale Senior Living Solutions, Extendicare, Capital Senior Living, Home Instead, Sunrise Senior Living, Senior Care Centers, Diversicare, Atria Senior Living, Amedisys, and Lincare Holdings among others.|
|Segments Covered||By Service, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Historical Year||2016 to 2019|
|Forecast Year||2020 - 2026|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America held the largest revenue share of the global long-term care market in 2018. This large share is attributed to the high prevalence of lifestyle-related disorders, government funding, growing awareness, and the presence of key players in this region. Europe was second leading regional market in terms of revenue. Availability of developed infrastructure, increasing geriatric population, and growing awareness are major factors that support market growth in this region.
Asia Pacific region is projected to be a rapidly growing regional market for long-term care. Increasing chronic disease prevalence and geriatric population base, economic development, improvement of healthcare infrastructure, increasing disposable income and healthcare spending, and growing awareness are major factors attributing to the swift growth in this region. Moderate growth is projected in the Latin America region over the forecast period. Middle East and Africa will witness sluggish growth in the coming years.
Major players in the long-term care market are
Global Long-Term Care Market: By Service
Global Long-Term Care Market: By Region
Long-term care provides assistance with daily tasks and health needs for a long time. Chronic illnesses, disabilities, or age-related limitations that make washing, dressing, eating, and managing prescriptions difficult are the target population for this sort of care. Long-term care can be provided in nursing homes, assisted living facilities, home care, and hospice, depending on the individual's needs and choices. Long-term care improves the quality of life and helps people with ongoing needs preserve independence and dignity.
The global demand for long term care market is driven by growing cases of disability, lack of skilled nursing staff, increasing prevalence of chronic diseases, aging baby boomers, and extended life expectancy.
According to the report, global demand for long term care market was valued at approximately USD 913.8 billion in 2019, and is expected to generate revenue of around USD 1,433.9 billion by end of 2026, growing at a CAGR of around 6.8% between 2020 and 2026.
North America held largest revenue share of the global long-term care market in 2018. This large share is attributed to high prevalence of lifestyle related disorders, government funding, growing awareness and presence of key players in this region.
Major players in long term care market are Brookdale Senior Living Solutions, Extendicare, Capital Senior Living, Home Instead, Sunrise Senior Living, Senior Care Centers, Diversicare, Atria Senior Living, Amedisys, and Lincare Holdings among others.