U.S. Skilled Nursing Facility Market Size, Share & Trends Analysis Report By Ownership (For-profit, Non-profit, Government), By Type (Freestanding, Hospital), And Segment Forecasts, 2023 - 2030

Market Segmentation

• U.S. Skilled Nursing Facility Type Outlook (Revenue, USD Billion, 2017 - 2030)
  • Freestanding
  • Hospital
• U.S. Skilled Nursing Facility Ownership Outlook (Revenue, USD Billion, 2017 - 2030)
  • For-Profit
  • Non-Profit
  • Government

U.S. Skilled Nursing Facility Market Dynamics

Driver: Rising Geriatric Population

The geriatric population is expected to grow rapidly in the future due to increased life expectancy. According to the National Institute on Aging (NIA), around 8.5% of the population worldwide is aged 65 and above. The number of people in the U.S. aged 65 & above is projected to reach 95 million by 2060 from 52 million in 2018. The risk of diabetes & cardiovascular diseases increases with age, which results in higher incidence of these diseases in adults aged 60 and above. Skilled nursing facilities offer on-site dialysis, ventilator care, and orthopedic rehabilitation to the geriatric population, among others. These factors are expected to propel the market growth. The prevalence of chronic diseases is increasing at a significant rate, and the elderly suffer from chronic diseases such as cancer, heart problems, diabetes, cerebral palsy, Parkinson’s disease, multiple sclerosis, dementia, Alzheimer’s disease, and mental stress. Hospitalization for chronic conditions can be expensive and often involves unnecessary use of resources, which can otherwise be utilized for patients in critical conditions. Skilled nursing facilities can provide specialized care required by the elderly. Increasing demand for these facilities to accommodate new admissions each year is expected to propel the market growth.

Driver: Increasing Prevalence Of Multiple Chronic Conditions

The prevalence of chronic diseases is increasing at a significant rate, particularly among the elderly population. This trend is driven by factors such as aging, sedentary lifestyle, and high consumption of alcohol, which have contributed to a rise in non-communicable diseases. Chronic conditions such as cancer, heart problems, diabetes, and neurodegenerative diseases like dementia and Alzheimer’s disease are becoming more common, leading to an increased demand for specialized care. As a result, there is a growing need for skilled nursing facilities to accommodate new admissions each year, which is expected to drive market growth. The rise in chronic diseases has also led to an increase in healthcare utilization and costs, as well as a higher prevalence of disability among older adults. These factors collectively contribute to the growing demand for skilled nursing facilities and the need for specialized care to address the complex healthcare needs of the elderly population.

Restraint: High Cost Of Services

The cost of skilled nursing facilities is a driver in the market. The average monthly cost for a resident in skilled nursing facilities varies between USD 225 for a semi-private room and USD 250 for a private room. The average cost of skilled nursing home care is around USD 8,800 for a private room and around USD 7,500 per month for a semi-private room. The increasing incidence of dementia & Alzheimer’s disease, shortage of skilled workers, higher minimum wage, growing geriatric population, and problems in retaining employees are among major factors compelling skilled nursing facilities to increase prices.

What Does This Report Include?

This section will provide insights into the contents included in this U.S. skilled nursing facility market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

U.S. skilled nursing facility market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

U.S. skilled nursing facility market quantitative analysis

• Market size, estimates, and forecast from 2017 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance