Long-Term Care Market Size Report, Industry Share, Analysis, Growth, 2032

Long-Term Care Market: Industry Perspective

The global long-term care market size accrued earnings worth approximately USD 1123.48 Billion in 2023 and is predicted to gain revenue of about USD 1971.85 Billion by 2032, is set to record a CAGR of nearly 6.45% over the period from 2024 to 2032.

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Global Long-Term Care Market: Overview

The long-term care market encompasses a diverse array of services and goods designed to provide care and assistance to those with chronic illnesses, impairments, and other ailments. The market encompasses a diverse range of services, such as nursing homes, home health care, assisted living facilities, and hospice care.

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 report covers forecasts and analyses for the long-term care market on a global and regional level. The study provides historic data from 2018 to 2022 along with a forecast from 2024 to 2032 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.

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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.

Global Long-Term Care Market: Growth Factors

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.

Progress in medical technology has facilitated individuals to endure persistent diseases and disabilities, hence amplifying the need for long-term care services. The rise in the number of individuals living alone, resulting from shifts in demographics and lifestyles, has generated a heightened demand for long-term care services.

The escalating expenses in the healthcare sector have posed challenges for individuals to finance long-term care services, hence driving up the demand for more economical alternatives such as home healthcare. The implementation of technological advancements such as telemedicine and remote monitoring has allowed long-term care providers to give care in a more effective and efficient manner, resulting in a growing demand for these services. Government policies and regulations influence the long-term care market by providing financial support, industry oversight, and setting quality benchmarks.

Global Long-Term Care Market: Report Scope

Global Long-Term Care Market: Segmentation

The global Long-Term Care market is divided based on service and regions. All the segments of long-term care market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

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 2023 and is projected to retain its dominance over the forecast timeframe. This is because nursing care is offered in a large number of facilities.

Regional Analysis

North America held the largest revenue share of the global long-term care market in 2023. 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.

Global Long-Term Care Market: Competitive Players

Major players in the 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
• Lincare Holdings 
• among others.

The report segment of global long-term care market as follows:

Global Long-Term Care Market: By Service

• Hospice
• Home Healthcare
• Assisted Living Facilities
• Nursing Care
• Others

Global Long-Term Care Market: By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa