The global private nursing services market is anticipated to reach $848.7 million by 2031, growing from $415.7 million in 2021, at a CAGR of 7.5% from 2022 to 2031.
In comparison to government nursing facilities, private nursing care services are preferred by patients, as they offer better consulting and provide better service. Some of the factors driving the adoption of private nursing care providers include privacy, cleanliness, drug availability, and others. In December 2020, The National Adult Day Services Association created a unified set of standard outcomes in response to an increase in demand among private funders that provide adult day services. In the U. S., the most popular type of private insurance arrangement is reimbursement plans as they provide eligible recipients with coverage up to a certain limit to pay home, outpatient, or nursing care expenditures.
When there are chances of less face-to-face interaction between the nurse and doctor, the nurse is responsible for conducting assessments and communicating results in home care settings. Another distinguishing factor of home healthcare is that each patient receives medical care in a separate setting from the others. Some circumstances may put patients at risk for issues that are challenging to resolve in homecare setting. In hospitals, environmental health & safety departments are well-equipped to deal with such circumstances.
Rising healthcare costs have increased patient preference for home-based treatments. Nebulizers, ventilators, and continuous positive airway pressure (CPAP) devices are used by nurses in home care settings to treat, diagnose, and monitor a range of respiratory illnesses. The rapid increase in the global elderly population, the rising prevalence of chronic diseases (asthma), and the cost benefits of home care equipment and services (compared to hospital visits) are the key reasons anticipated to drive the private nursing service market expansion.
The COVID-19 pandemic created a global health crisis that has majorly boosted the geriatric care services sector. Elder persons in various countries are experiencing the most significant challenges and dangers as a result of the epidemic, boosting demand for elder care services. Private nursing service is essential in providing long-term care to the elderly and lowering the chance of illnesses if they get infected with the coronavirus. The Centers for Disease Control and Prevention, for example, had set criteria for adult daycare center workers, volunteers, and administrators during the pandemic. Furthermore, private nursing home care agencies across the world provide a range of emergency and non-medical support services to help the elderly remain independent and healthy in their own homes. These programs have provided several benefits during the pandemic, including providing crucial assistance to families, relieving strain on limited hospital resources, and providing fast emergency response.
The key players profiled in the report include The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis HealthCare, Brookdale Senior Living Inc., Kaiser Foundation Health Plan, Inc., CBI Health., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care.
In comparison to government nursing facilities, private nursing care services are preferred by patients, as they offer better consulting and provide better service. Some of the factors driving the adoption of private nursing care providers include privacy, cleanliness, drug availability, and others. In December 2020, The National Adult Day Services Association created a unified set of standard outcomes in response to an increase in demand among private funders that provide adult day services. In the U. S., the most popular type of private insurance arrangement is reimbursement plans as they provide eligible recipients with coverage up to a certain limit to pay home, outpatient, or nursing care expenditures.
When there are chances of less face-to-face interaction between the nurse and doctor, the nurse is responsible for conducting assessments and communicating results in home care settings. Another distinguishing factor of home healthcare is that each patient receives medical care in a separate setting from the others. Some circumstances may put patients at risk for issues that are challenging to resolve in homecare setting. In hospitals, environmental health & safety departments are well-equipped to deal with such circumstances.
Rising healthcare costs have increased patient preference for home-based treatments. Nebulizers, ventilators, and continuous positive airway pressure (CPAP) devices are used by nurses in home care settings to treat, diagnose, and monitor a range of respiratory illnesses. The rapid increase in the global elderly population, the rising prevalence of chronic diseases (asthma), and the cost benefits of home care equipment and services (compared to hospital visits) are the key reasons anticipated to drive the private nursing service market expansion.
The COVID-19 pandemic created a global health crisis that has majorly boosted the geriatric care services sector. Elder persons in various countries are experiencing the most significant challenges and dangers as a result of the epidemic, boosting demand for elder care services. Private nursing service is essential in providing long-term care to the elderly and lowering the chance of illnesses if they get infected with the coronavirus. The Centers for Disease Control and Prevention, for example, had set criteria for adult daycare center workers, volunteers, and administrators during the pandemic. Furthermore, private nursing home care agencies across the world provide a range of emergency and non-medical support services to help the elderly remain independent and healthy in their own homes. These programs have provided several benefits during the pandemic, including providing crucial assistance to families, relieving strain on limited hospital resources, and providing fast emergency response.
The key players profiled in the report include The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis HealthCare, Brookdale Senior Living Inc., Kaiser Foundation Health Plan, Inc., CBI Health., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the private nursing services market analysis from 2021 to 2031 to identify the prevailing private nursing services market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the private nursing services market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global private nursing services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service Type
- Retirement Communities
- Group Care Homes
- Nursing Care Facilities
- Home Healthcare Provider
By Gender
- Female
- Male
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- The Ensign Group, Inc.
- Knight Health Holdings, LLC
- Genesis HealthCare, Inc.
- Brookdale Senior Living Inc.
- Kaiser Foundation Health Plan, Inc.
- CBI Health
- Trinity Health
- Columbia Asia
- Apollo Hospitals Enterprise Ltd.
- Grand World Elder Care
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Regulatory Guidelines
3.8. Value Chain Analysis
3.9. Market Share Analysis
3.10. Key Regulation Analysis
3.11. Patent Landscape
CHAPTER 4: PRIVATE NURSING SERVICES MARKET, BY SERVICE TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Retirement Communities
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Group Care Homes
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Nursing Care Facilities
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Home Healthcare Provider
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
CHAPTER 5: PRIVATE NURSING SERVICES MARKET, BY GENDER
5.1 Overview
5.1.1 Market size and forecast
5.2 Female
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Male
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
CHAPTER 6: PRIVATE NURSING SERVICES MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Service Type
6.2.3 North America Market size and forecast, by Gender
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Market size and forecast, by Service Type
6.2.4.1.2 Market size and forecast, by Gender
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Service Type
6.2.4.2.2 Market size and forecast, by Gender
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Service Type
6.2.4.3.2 Market size and forecast, by Gender
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Service Type
6.3.3 Europe Market size and forecast, by Gender
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Service Type
6.3.4.1.2 Market size and forecast, by Gender
6.3.4.2 UK
6.3.4.2.1 Market size and forecast, by Service Type
6.3.4.2.2 Market size and forecast, by Gender
6.3.4.3 France
6.3.4.3.1 Market size and forecast, by Service Type
6.3.4.3.2 Market size and forecast, by Gender
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Service Type
6.3.4.4.2 Market size and forecast, by Gender
6.3.4.5 Italy
6.3.4.5.1 Market size and forecast, by Service Type
6.3.4.5.2 Market size and forecast, by Gender
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Service Type
6.3.4.6.2 Market size and forecast, by Gender
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Service Type
6.4.3 Asia-Pacific Market size and forecast, by Gender
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Service Type
6.4.4.1.2 Market size and forecast, by Gender
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Service Type
6.4.4.2.2 Market size and forecast, by Gender
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Service Type
6.4.4.3.2 Market size and forecast, by Gender
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Service Type
6.4.4.4.2 Market size and forecast, by Gender
6.4.4.5 Australia
6.4.4.5.1 Market size and forecast, by Service Type
6.4.4.5.2 Market size and forecast, by Gender
6.4.4.6 Rest Of Asia Pacific
6.4.4.6.1 Market size and forecast, by Service Type
6.4.4.6.2 Market size and forecast, by Gender
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Service Type
6.5.3 LAMEA Market size and forecast, by Gender
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Service Type
6.5.4.1.2 Market size and forecast, by Gender
6.5.4.2 Saudi Arabia
6.5.4.2.1 Market size and forecast, by Service Type
6.5.4.2.2 Market size and forecast, by Gender
6.5.4.3 UAE
6.5.4.3.1 Market size and forecast, by Service Type
6.5.4.3.2 Market size and forecast, by Gender
6.5.4.4 South Africa
6.5.4.4.1 Market size and forecast, by Service Type
6.5.4.4.2 Market size and forecast, by Gender
6.5.4.5 Rest of LAMEA
6.5.4.5.1 Market size and forecast, by Service Type
6.5.4.5.2 Market size and forecast, by Gender
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 The Ensign Group, Inc.
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Knight Health Holdings, LLC
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Genesis HealthCare, Inc.
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Brookdale Senior Living Inc.
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Kaiser Foundation Health Plan, Inc.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 CBI Health
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Trinity Health
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Columbia Asia
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Apollo Hospitals Enterprise Ltd.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Grand World Elder Care
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Private Nursing Services Market,' the private nursing services market size was valued at $415.70 billion in 2021, and is estimated to reach $848.7 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.The increase in the geriatric population, rise in the incidence of chronic illnesses, cost-effective treatment, and increase in demand for nursing services are some of the primary factors anticipated to drive the private nursing services market growth. The rising prevalence of chronic illnesses necessitates disease management and methods for continuous patient monitoring are driving the demand for healthcare equipment including thermometers (oral, rectal, forehead, and in-ear), bandages, ace bandages, heating pads, and snakebite kits. This equipment is linked to computerized patient health records and enable access to vital health information during therapy.
One of the major restraints for the private nursing care services sector is a lack of skilled professionals. According to the World Health Organization (WHO), in 2017, there was a 4 million worker deficit in the global health force, which primarily comprised nurses and community healthcare professionals. Lack of education, insufficient skill sets, and shortage of experienced professionals has a significant influence on the expansion of the private nursing services industry.
Home care settings provide comfort and convenience, which will eventually increase demand for respiratory care devices. The goal of providing home care services to patients with respiratory disease is often to reduce morbidity, increase chances of survival, and encourage self-management and independence. Various respiratory care devices are used for pain management and psychological comfort depending on the patient's criticality. The adoption of devices used in home care settings will reduce total healthcare expenditures majorly by lowering acute care hospital admissions.
The private nursing services market share is segmented based on service type, gender, and region. By service type, it is classified into retirement communities, group care homes, nursing care facilities, and home health care providers. By gender, it is classified into female and male. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the private nursing services market report include The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis HealthCare, Brookdale Senior Living Inc., Kaiser Foundation Health Plan, Inc., CBI Health., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care.
The report offers a comprehensive analysis of the global private nursing services market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Private Nursing Service Industry
The increase in the growth rate of private nursing service is mainly due to rising healthcare infrastructure spending, rising per capita income, establishment of various healthcare welfare programs and others. However, these sectors were negatively impacted by the COVID-19 pandemic which has affected the demand for private nursing service due to disrupted supply chain.The COVID-19 pandemic impacted almost all industries and private nursing service companies ceased their operations owing to lockdowns imposed across several countries, shortage of labor; the fear of contracting the novel coronavirus resulting in low demand in the market
Social distancing norms, closed borders, and delays in the manufacturing of healthcare products due to the pandemic across various countries such as China, India, and the U.S. have affected the global market.
Key Findings of the Study
Based on service type, the home health care providers sub-segment emerged as the global leader in 2021 and the retire communities sub-segment is anticipated to be the fastest growing during the forecast periodBased on gender, the female sub-segment emerged as the global leader in 2021 and the male sub-segment is predicted to witness the fastest growth in the upcoming years
Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain its position during the forecast period
Companies Mentioned
- the Ensign Group, Inc.
- Knight Health Holdings, LLC
- Genesis Healthcare, Inc.
- Brookdale Senior Living Inc.
- Kaiser Foundation Health Plan, Inc.
- Cbi Health
- Trinity Health
- Columbia Asia
- Apollo Hospitals Enterprise Ltd.
- Grand World Elder Care
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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