China Long-term Care Market Size & Outlook, 2024-2030
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China long-term care market highlights
- The China long-term care market generated a revenue of USD 13,767.7 million in 2023 and is expected to reach USD 25,329.5 million by 2030.
- The China market is expected to grow at a CAGR of 9% from 2024 to 2030.
- In terms of segment, home healthcare was the largest revenue generating service in 2023.
- Hospice is the most lucrative service segment registering the fastest growth during the forecast period.
Long-term care market data book summary
| Market revenue in 2023 | USD 13,767.7 million |
| Market revenue in 2030 | USD 25,329.5 million |
| Growth rate | 9% (CAGR from 2024 to 2030) |
| Largest segment | Home healthcare |
| Fastest growing segment | Hospice |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities |
| Key market players worldwide | Brookdale Senior Living Inc, Knight Therapeutics Inc, Life Healthcare Group Holdings Ltd, Sunrise Medical, Extendicare Inc, Sonida Senior Living Inc, Genesis Healthcare Inc Class A, Amedisys Inc, Home Instead, Diversicare Healthcare Services, Atria Senior Living |
Other key industry trends
- In terms of revenue, China accounted for 1.2% of the global long-term care market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India long-term care market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,329.5 million by 2030.
Home healthcare was the largest segment with a revenue share of 34.45% in 2023. Horizon Databook has segmented the China long-term care market based on home healthcare, hospice, nursing care, assisted living facilities covering the revenue growth of each sub-segment from 2018 to 2030.
China has a geriatric population of more than 135 million people aged 65 years or over, and 18.6% of them need assistance for daily activities. Chinese culture dictates that children are responsible for taking care of their parents.
Furthermore, this law has resulted in the reduction of fertility rate, thereby causing lower child birth rate. Rising geriatric population, reduced birth rate, increased life expectancy, increased participation of women in the workforce, and growth in internal immigration from rural to urban areas, among other factors, have fueled the need for a strong LTC system in the country.
Recognizing the pressing need, China has taken steps to form an efficient LTC system. In June 2016, delegates from China visited the U.S. to seek insights about the handling & financing of LTC demands. The country intends to meet the rising LTC demand by 2050, when the population of 65 years & above is forecasted to be 115 million.
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Long-Term Care Market Scope
Long-Term Care Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Diversicare Healthcare Services | View profile | 1001-5000 | Brentwood, Tennessee, United States, North America | http://www.advocatinc.com/ |
| Atria Senior Living | View profile | 10001+ | Louisville, Kentucky, United States, North America | http://atriaseniorliving.com |
| Home Instead | View profile | 501-1000 | Omaha, Nebraska, United States, North America | http://www.homeinstead.com |
| Sonida Senior Living Inc | View profile | 3955 | 14755 Preston Road, Suite 810, Dallas, TX, United States, 75254 | https://www.sonidaseniorliving.com |
| Extendicare Inc | View profile | 22000 | 3000 Steeles Avenue East, Suite 700, Markham, ON, Canada, L3R 4T9 | https://www.extendicare.com |
| Knight Therapeutics Inc | View profile | 725 | 3400 De Maisonneuve West, Suite 1055, Montreal, QC, Canada, H3Z 3B8 | https://www.gud-knight.com |
| Brookdale Senior Living Inc | View profile | 36000 | 111 Westwood Place, Suite 400, Brentwood, TN, United States, 37027 | https://www.brookdale.com |
| Life Healthcare Group Holdings Ltd | View profile | 16960 | 203 Oxford Road, Building 2, Oxford Parks, Corner Eastwood and Oxford Roads, Johannesburg, GT, South Africa, 2196 | https://www.lifehealthcare.co.za |
| Amedisys Inc | View profile | 19000 | 3854 American Way, Suite A, Baton Rouge, LA, United States, 70816 | https://www.amedisys.com |
| Sunrise Medical | View profile | 1001-5000 | Boulder, Colorado, United States, North America | http://www.sunrisemedical.com |
| Genesis Healthcare Inc Class A | View profile | 44000 | 101 East State Street, Kennett Square, PA, United States, 19348 | http://www.genesishcc.com |
China long-term care market size, by service, 2018-2030 (US$M)
China Long-Term Care Market Outlook Share, 2023 & 2030 (US$M)
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