Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 524.9 Million | USD 1172.65 Million | 8.37% | 2024 |
The global private nursing services market size was worth around USD 524.9 Million in 2024 and is predicted to grow to around USD 1172.65 Million by 2034 with a compound annual growth rate (CAGR) of roughly 8.37% between 2025 and 2034.
The report analyzes the global private nursing services 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 private nursing services industry.
Private nursing care services are only offered by people who hold a licensed practical nurse (LPN) or registered nurse (RN) license. Private nursing is the provision of healthcare services in some noninstitutional or private setting. These are offered outside the hospital, for example, in patients' homes or any other private facilities. The services are provided on both an ongoing basis and the one-time basis, depending on the requirement of the patients.
Increasing aging population is likely to propel the growth of the global market.
The fast-growing geriatric population is one of the major factors boosting the growth of the global private nursing services market. With an increase in the geriatric population, the demand for healthcare services has significantly increased. Moreover, many people like to have health care services in their comfort zone, for example, in their houses or any other private nursing facility instead of public hospitals. Private nursing service vendors are taking advantage of the opportunities and thereby offering high-end personalized and specialized nursing services to people in their home care settings. Additionally, the increasing problems of chronic diseases like respiratory illness, cardiovascular diseases, and diabetes are further paving a positive growth trajectory for the growth of the industry. For instance, Genesis HealthCare acquired Sun Healthcare Group Inc. in December 2020. Genesis HealthCare operates independent living centers, nursing facilities, and behavioral health centers in 23 states.
Cost and affordability are expected to hamper the growth of the global market.
Private nursing services are quite expensive, which makes them inaccessible to a large pool of patients, thereby limiting the growth of the private nursing services industry. Additionally, a lack of qualified and skilled nursing professionals is also expected to slow down the growth trajectory.
Growing awareness and high acceptance are expected to offer lucrative growth opportunities in the global market.
People are getting more open to private nursing services, which is expected to widen the scope of the global private nursing services market. More and more people are becoming aware of private nursing services, which is likely to boost its demand in the near future. For instance, Medline said to adopt a multi-year prime vendor agreement with Tri-City Medical Center worth $30M catering to coastal communities of San Diego.
Regulatory complaints are a big challenge in the global market.
The private nursing service providers should comply with the said regulations of the government. Also, they need to be certified by an established institution to serve the patients. Therefore, navigating such a complex scenario is quite challenging in the private nursing services industry.
The global private nursing services market can be segmented into service type, gender, medical condition, payment model, and region.
By type, the market can be segmented into medical care and non-medical care. Medical care can further be segmented into wound dressing, medication administration, and others. Non-medical care can be further segmented into companionship, assistance with daily activities, and others. The medical care segment will likely account for the largest share of the global private nursing services market during the forecast period. Private nursing services are essential for offering medical care to patients. These days people get their patients discharged from the hospital to avoid the expensive healthcare cost and hire private nursing services to deliver care services to the patients. However, it helps them lower their cost while offering a good healthcare service to their family members.
However, the non-medical care segment is also likely to grow steadily during the forecast period because of the hectic lifestyle of the people. Increasing urbanization and high-paced job profiles do not allow them to take out some time for elderly care or good companionship for the patient or senior citizens, which in turn is expected to widen the scope of the segment during the anticipated period.
By medical condition, the market can be segmented into pediatric care, chronic disease management, post-operative services, elderly care, and others. Post-operative services are the fastest-growing segment in the global private nursing services industry because of the increasing number of surgeries all across the globe. The high demand for elective surgeries is further likely to boost the demand in the segment. Additionally, modern-day surgeries include complex procedures which need a longer time to recover and case-specific patient services. However, elderly care services are also likely to show significant growth in the industry because of the growing aging population. Older patients need extensive care, particularly post-operative care, and sometimes good companionship, which is highly expected to boost the growth of the segment.
Report Attributes | Report Details |
---|---|
Report Name | Private Nursing Services Market |
Market Size in 2024 | USD 524.9 Million |
Market Forecast in 2034 | USD 1172.65 Million |
Growth Rate | CAGR of 8.37% |
Number of Pages | 212 |
Key Companies Covered | BAYADA Home Health Care, Maxim Healthcare Services, NurseRegistry, Aveanna Healthcare LLC, Homage Sdn. Bhd, Private Nursing Care, Curantis Private Nursing services LLC, CK Franchising, Inc., Providence, Private Nurse ApS, Active Global Specialised Caregivers Pte Ltd, Red Crowns, ATLANTIC CARE SERVICES, Sublime Nursing, Private Duty Nursing in an Acute Hospital, and others. |
Segments Covered | By Medical Condition, By Type, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America holds the largest share of the global market.
North America accounts for the largest share of the global private nursing services market due to the presence of advanced healthcare infrastructure. The region has a robust network of healthcare facilities, clinics, and hospitals. The region offers a strong foundation for the growth of private nursing services. North America is experiencing a high demographic shift with an aging population. Therefore, the increasing number of elderly individuals with complex healthcare requirements is likely to boost the growth of the regional market during the forecast period. Also, a high preference for patients in families in the region to offer home-like comfort to patients, which in turn is likely to widen the scope of private nursing services in the region.
Asia Pacific is gaining immense prominence in the private nursing services industry due to the diverse match population in the region. The region is home to a significant portion of senior citizens which is likely to boost the demand for private nursing services in the forthcoming years. Rapid urbanization and industrialization have significantly increased the income of the people, which further allows them to hire a nursing service which is likely to foster significant development in the market. For instance, Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) Scheme in February 2021 was launched by the Indian government with an outlay of INR 64,180 Cr in the budget for FY 2021-2022.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the private nursing services market on a global and regional basis.
The global private nursing services market is dominated by players like:
By Medical Condition
By Type
By Region
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