Long term care includes a wide range of services which are intended to meet the needs of geriatric population and adults who have limited self care capabilities due to medical conditions thus the long term care services market is expected to grow at a lucrative rate over the forecast period. Moreover, growing prevalence of chronic illness, physical, cognitive, or mental disability, increasing number of baby boomers with long term care requirements and growing private & foreign investments are expected to positively reinforce long term care services market. Furthermore, increasing number of oldest olds and decreasing proportion of young to old population are further expected to boost market growth over the forecast period.
On the basis of service types the market is segmented into social work, mental health or counseling, therapeutics (physical, occupational or speech), skilled nursing or nursing, pharmacy or pharmacist and hospice. In 2014, the therapeutic services segment accounted for majority of share owing to the factors such as growing demand for rehabilitation, fitness & educational care and increasing predominance of long term medical conditions. Moreover, rising requirement for speech & occupational therapies, increasing pool of patients suffering from walking, swallowing, dressing & bathing problems and growing prevalence of cognitive issues are further expected to reinforce market growth. Based on provider types the long term care service market is segmented into adult day care service center, home health agencies, hospices, nursing homes and residential care communities. In 2014, nursing homes segment accounted to have the largest share. However, residential care is expected to grow at a lucrative rate over the forecast period. Growing demand for assisted living and independent living, rising pool of patients suffering from long term medical conditions and increasing prevalence of Alzheimer’s and dementia are few factors attributing to its rapid growth. Furthermore, on the basis of staff type the market is segmented into registered nurses, licensed practical nurses or licensed vocational nurses, home care aides and social workers.
North America, Europe, Asia Pacific, MEA, and Latin America are amongst key regional markets included in the study. In 2014, North America was highest revenue generating regional market. Favorable reimbursement policies, changing lifestyle & increasing employment rates young members of the family prefer care homes for the care of elder members of the family, and presence of various geriatric and long term care providers are amongst key factors for its large share. However, Asia Pacific is expected to be the fast growing regional market over the estimated period of seven years. Favorable government policies, growing healthcare awareness and increasing disposable income are amongst key factors attributing to its rapid growth.
Key players included in the scope of study Brookdale Senior Living Inc., Extendicare Inc., Gentiva Health Services Inc., Senior Care Centers of America, Kindred Healthcare Inc., Genesis Healthcare Corp., Sunrise Senior Living Inc., Home Instead Senior Care Inc. and Golden Living.
Please discuss your specific research requirements, for a tailor made consumer centric report.
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.