The US nursing care market is expected to grow at a CAGR of over 5% during the period 2019-2025

  • Author

    Jasleen Kour
  • Date

  • Time

    2 min read
  • Read by

    7.4k People

With the Purchase of US Nursing Care Market ReportReceive a FREE Copy of Market Impact of COVID-19 on BusinessesRead the full report: https://wwwreportlinkercom/p05888074/?utm_source=PRN The US nursing care market is expected to grow at a CAGR of over 5% during the period 2019–2025The US nursing care market is expected to be driven by the rising incidences of chronic disorders which can be attributed to an unhealthy and sedentary lifestyle The prevalence of chronic diseases is likely to increase the number of people having disabilities over the coming years According to the WHO 60 to 85% of the population worldwide does not engage in activities making physical inactivity the fourth leading risk factor for global mortality This lifestyle is expected to increase in the future as more and more jobs require sitting in the office for a long time in the USMoreover the share of the geriatric population in the US is also increasing at a rapid rate It is expected that the geriatric population share will be more than 20% by 2030 Hence the increase in a sedentary lifestyle along with the growth in the elderly population is expected to increase the demand for nursing services The outbreak of the coronavirus provides a timely opportunity for the US nursing care market to address the surge in demand for nurses and to contain the outbreak These nurses can help in coronavirus screening and improve the overall preparedness to counter the pandemicThe following factors are likely to contribute to the growth of the US nursing care market during the forecast period:• Technological Development• Increase in Sedentary Lifestyles• Value-based Purchasing and Patient-Driven Payment Model• Geriatric Population and Chronic DiseasesThe study considers the present scenario of the US nursing care market and its market dynamics for the period 2019?2025 It covers a detailed overview of several market growth enablers restraints and trends The study offers both the demand and supply aspects of the market It profiles and examines leading companies and other prominent ones operating in the marketUS NURSING CARE MARKET: SEGMENTATIONThis research report includes a detailed segmentation by service type expenditure gender and geography The rise in the geriatric population coupled with increasing chronic diseases and age-associated diseases is expected to boost the hospice segment Hospice programs generally are home-based; however they sometimes provide services in freestanding facilities in nursing homes or within hospitals Telemedicine is growing in the hospice industry which is expected to boost the segment The technology is trying to extend its services to outpatient settings to improve care coordinationThe demand for home healthcare is expected to rise as an increasing number of patients have been choosing to receive medical services at home for several health challenges including rehabilitation and chronic disease management The largest end-user of this facility is the elderly population as this age group faces several health challenges and has progressively opted for home services over nursing home care or inpatient facility at hospitals Based on gender the assisted living facility market is segmented into women and men Women held the dominant share in 2018–2019 and the segment is expected to grow at a faster rate during the forecast period Greater life expectancy of women high savings increased retirement savings increased women employment opportunities higher disability and chronic health disorders rates are some of the major factors behind the dominance of female gender in assisted living facilities The growing aging population favorable reimbursement scenario with increasing needs and rising prevalence of chronic diseases in the country will propel the need for skilled nursing facilities Besides the lower costs of skilled nursing facilities than hospitals will drive the market However factors such as the existence of specialized services such as assisted living facility hospice and home healthcare can hinder the market growth Furthermore the rise in utility and food costs real estate taxes and insurance could negatively affect the US nursing care marketThe increasing government support for the US nursing care market is expected to further fuel the market revenue For instance Medicare in 2016 spent around $79 billion on skilled nursing facilities and home health services combined which was over 20% of all long-term service and supported spending This kind of support from the US government is expected to strengthen the US nursing care market further Of the total Medicare long-term service and supports spending 49% was paid to home health agencies and 50% was paid to skilled nursing facilities Hence these types of support from federal agencies are likely to contribute to the segment growth during the forecast period The growth in the private insurance market coupled with increased funding received through philanthropic fund-raising organizations such as the United Way is boosting the growth of the private expenditure segment For instance private health insurance comprises around 15% of total nursing care expenditures in 2019With longer lives higher rates of disability and chronic health challenges and lower incomes than men on average several women need long-term medical services which is positively affecting the segment growth Moreover women are also the primary providers of long-term medical services as the vast majority of both paid formal long-term medical workers and unpaid informal caregivers are women The availability of female nurses allows more women to opt for these services Also women have a longer life expectancy than men outliving men by about five years on average Therefore with the increasing age and growing disabilities among women the need for a medical facility is expected to increase thereby driving the segment growthFurthermore more than 70% of people getting admitted to nursing facilities are women Almost two-thirds of the paid home care users and unpaid care recipients are women The demand is further expected to increase among women owing to their improved savings increased employability high literacy the surge in divorce cases and an increase in chronic diseasesThe male segment is comparatively smaller than the female segment However it is expected to rise as several men are getting admitted to nursing care facilities or taking medical services at their home Also some patients feel uncomfortable with female nurses caring thereby increasing the demand for males However the demand among men is expected to remain stagnant compared to femalesMarket Segmentation by Service Type• Hospice• Home Healthcare• Assisted Living Facility• Skilled Nursing FacilityMarket Segmentation by Expenditure• Public• PrivateMarket Segmentation by Gender• Male• FemaleINSIGHTS BY VENDORSThe US nursing care market is in the growth stage and it has achieved popularity and high penetration in developed countries such as the US The market consists of a few major players which include Brookdale Senior Living Sunrise Senior Living Diversicare Amedisys Kaiser Permanente Ensign Group The rapidly changing technological environment such as telemedicine could benefit both nursing care companies and patients The present scenario is driving companies to change and refine their unique value proposition to achieve a strong market presence Several trends will contribute to the growth of the senior living industry in the coming years Due to demographic trends and continuing medical healthcare advances the senior population will continue to grow which is expected to increase the demand for senior housing and healthcare services in future yearsKey Vendors• Brookdale Senior Living• Sunrise Senior Living• Diversicare• Amedisys• Kaiser Permanente• Ensign GroupOther Prominent Vendors• 24/7 Nursing Care• A-1 ACTION NURSING CARE• A-1 Nursing Care• AdventHealth• Affinity Living Group• All Ways Caring• Allamericancare• American House• Apple Home Healthcare• At Home Healthcare• At Home Nursing Care• Atria Senior Living• BAYADA Home Health Care• Bickford Senior Living• BrightStar Care• Bristol Hospice• Brotoloc North• Capital Senior Living• Century Park• Compassionate Nursing Services• Elmcroft Senior Living• Encompass Health• Enlivant• Erickson Living• Evangelical Community Hospital• Frontier Management• HCR ManorCare• Holiday Retirement• Hospice of Southern Illinois• Hospice of the Valley• Human Touch Home Health Care• LCS• Life Care Centers of America• Living Assistance Services• Nurse Care of North Carolina• Nurse Next Door• Pacifica Senior Living• Preferred Care• Premier Home Health Care Services• PruittHealth• Right at Home• Senior Lifestyle• Seasons Hospice & Palliative Care• Senior Care Centers• Trinity Health• Valeo Home Health & Hospice• Visiting Nurse Service of New York• VITASKEY MARKET INSIGHTSThe analysis of the US nursing care market provides sizing and growth opportunities for the period 2019–2025• Offers sizing and growth prospects of the market for the forecast period 2020–2025• Provides comprehensive insights on the latest industry trends forecast and growth drivers in the market• Includes a detailed analysis of growth drivers challenges and investment opportunities• Delivers a complete overview of segments and the regional outlook of the market• Offers an exhaustive summary of the vendor landscape competitive analysis and key strategies to gain competitive advantageRead the full report: https://wwwreportlinkercom/p05888074/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly in one place __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001


Nationwide Franchises & Chains