Private Nursing Services Market Size, Share, Growth, Forecast 2030

Private Nursing Services Industry Perspective:

The global private nursing services market size was valued at USD 446.95 million in 2022 and is likely to surpass USD 834.75 million by the end of 2030. The global private nursing services market is expected to grow with a CAGR of 8.21% during the forecast period.

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The report analyzes the industry's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the private nursing services industry.

Private Nursing Services Market: Overview

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.

Key Insights

• As per the analysis shared by our research analyst, the global private nursing services market size is estimated to grow annually at a CAGR of around 8.21% over the forecast period (2023-2030).
• In terms of revenue, the global private nursing services market size was valued at around USD 446.95 million in 2022 and is projected to reach USD 834.75  million by 2030.
• Increasing aging population is likely to drive the growth of the global private nursing services market.
• Based on the service type, the medical care segment accounts for the largest share of the global market.
• Based on gender, the female segment is likely to dominate the global market.
• Based on the medical condition, post-operative services are the fastest-growing segment in the global market.
• Based on the payment model, the fee for the service segment is anticipated to register a notable growth in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

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Private Nursing Services Market: Growth Drivers

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.

Private Nursing Services Market: Restraints

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.

Private Nursing Services Market: Opportunities

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.

Private Nursing Services Market: Challenges

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.

Private Nursing Services Market: Segmentation

The global private nursing services market can be segmented into service type, gender, medical condition, payment model, and region.

By service 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 gender, the market can be segmented into female and male.

The female segment is likely to dominate the global private nursing services industry in the forthcoming years due to the growing women population. Also, a lot of patients prefer to hire female nurses because they are more caring and sensitive in nature when compared to male patients.

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.

By payment model, the market can be segmented into insurance-covered services, subscription-based services, fee-for-service, and others.

The fee for the service segment is anticipated to register a notable growth in the global market during the forecast period because of the preference of people to offer a fee after taking service. Also, it seems to be an easier way for people to call for service only when required.

Private Nursing Services Market: Report Scope

Private Nursing Services Market: Regional Analysis

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.

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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.

Private Nursing Services Market: Competitive Analysis

The key leaders in the global private nursing services market include:

• NurseRegistry
• Alliance Homecare
• Accredited Home Care
• Tri-City Medical Center
• Aveanna Healthcare
• Homage
• Basin Home Health & Hospice Inc.
• EXTENDICARE
• Bayshore HealthCare
• ParaMed
• Memorial Sloan Kettering Cancer Center
• 3 C Costa Blanca Care Agency
• Care UK
• Able Community Care
• Manorcourt Care
• Helping Hands Home Care
• St. Augustine Health Ministries
• LHC Group
• Hcr Manorcare Inc.
• Addus HomeCare
• Grand world elder care
• Apollo Hospitals Enterprise Ltd
• Columbia Asia
• Trinity Health
• CBI health group Inc 

For instance, Apollo Hospitals in January 2019 started 150 bedded Apollo Proton Cancer Centre (APCC) to provide high-accuracy proton therapy to cancer patients.

The global private nursing services market is segmented as follows:

By Service Type

• Medical Care
• Non-Medical Care

By Gender

• Female
• Male

By Medical Condition

• Pediatric Care
• Chronic Disease Management
• Post Operative Services
• Elderly Care
• Others

By Payment Model

• Insurance Covered Services
• Subscription Based Services
• Fee For Service
• Others

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