North America Long-Term Care Market Size, Share & Trends Analysis Report by Service Type (Medical Services (In-house Therapy, Skilled Nursing, and Others) and Assisted Living Services) and by Point of Care (Homecare and Hospitals (Rehabilitation Center) Forecast Period (2021-2027).
The North America long-term care market is estimated to grow at a substantial CAGR of 6.8% during the forecast period. The ongoing healthcare reforms and the rise in economic prosperity are changing the dynamics of the healthcare sector in the region. Major factor driving the change is the acceptance of the fact that healthcare services should be more patient-centric and less fragmented, to provide cost-effective and high-quality care to patients, which, in turn, is putting pressure on providers. In addition, the US is witnessing several healthcare reforms, both implemented and proposed, such as the Affordable Care Act, single-care healthcare, and universal coverage to reduce the financial burden of healthcare expenditures on its citizens and to make healthcare services more affordable. One way to achieve this goal is to minimize relatively expensive care in secondary and tertiary healthcare settings and encourage patients to be assessed and treated in primary care or community-based healthcare centers. Such facets are expected to boost the growth of the long-term care market in North America.
Currently, big nursing care companies are implementing the internet of things to monitor and track the health of geriatric patients and patient with chronic diseases to deliver better quality service. Philips and Qualcomm are collaborating by using the Philips HealthSuite, a cloud data management and informatics solution in tandem with Qualcomm Life's 2net Platform, a medical-grade connectivity platform. These applications are aimed to facilitate crucial healthcare services and health informatics, such as the reduction of emergency care and the readmission of patients with chronic diseases. Thus, such technological advancements are expected to make long-term care services more viable and eventually boost the market growth in North America.
The long-term care market is segmented based on the service type and point of care. Based on service type, the market is sub-segmented into medical services (in-house therapy, skilled nursing, and others) and assisted living services. Based on point of care, the market is categorized into homecare and hospitals (rehabilitation center). Among service type, in-house therapy segment is expected to hold a major share in the long-term care market. In-house therapy provides personal assistance services that help people stay in their homes when they need assistance with Activities of Daily Living (ADL). In-house therapy services include hourly, live-In and spousal. In-home agency also provides similar in-home care hourly services at individual's place of residence.
The North America television services market is studied across the US and Canada. US dominated the North America long-term care market in 2020, and is expected to sustain its dominance during the forecast period, owing to increasing geriatric population and the presence of better healthcare infrastructure. According to the US Census Bureau's Statistics, as of 2018, the number of people aged 65 years and above exceeded 50 million, and between 2020-2030, the number of elderly people is projected to increase by almost 18 million, leading to a huge demand for long-term care facilities.
The market study of the North America long-term care market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include
- Financial reports of companies involved in the market.
- Whitepapers, research-papers, and news blogs.
- Company websites and their product catalog.
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
- North America Long-Term Care Market Research and Analysis by Service Type
- North America Long-Term Care Market Research and Analysis by Point of Care
The Report Covers
- Comprehensive Research Methodology of the North America long-term care market.
- This report also includes a detailed and extensive market overview with the key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North America long-term care market.
- Insights about market determinants which are stimulating the North America long-term care market.
- Detailed and extensive market segments with the regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Table of Contents1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
1.2.3. By Stakeholders
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Competitive Dashboard
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
4. Market Determinants
5. Market Segmentation
5.1. North America Long-Term Care Industry Market by Service Type
5.1.1. Medical Services
188.8.131.52. In-House Therapy
184.108.40.206. Skilled Nursing
5.1.2. Assisted Living Services
5.2. North America Long-Term Care Industry Market by Point of Care
5.2.2. Hospitals (Rehabilitation Center)
6. Regional Analysis
6.1. The US
7. Company Profiles
7.1. Atria Senior Living, Inc.
7.2. Abri Health Care Services LLC
7.3. Amedisys, Inc.
7.4. Brookdale Senior Living Inc.
7.5. Capital Senior Living Corp.
7.6. Diversicare Healthcare Services Inc.
7.7. Extendicare Inc.
7.8. Genesis Healthcare LLC
7.9. Golden Living Centers
7.10. Home Instead, Inc.
7.11. Kindred Healthcare, LLC
7.12. LHC Group, Inc.
7.13. Lincare Holdings Inc.
7.14. Life Care Centers of America, Inc.
7.15. Promedica Health System, Inc.
7.16. Sunrise Senior Living, LLC
7.17. Savaseniorcare Administrative Services LLC
7.18. Signature Healthcare
7.19. The Ensign Group, Inc.List of Tables
1. North America Long-Term Care Market Research and Analysis by Service Type, 2020-2027 ($ Million)
2. North America Long-Term Care Market Research and Analysis by Point of Care, 2020-2027 ($ Million)
3. North America Long-Term Care Market Research and Analysis by Country, 2020-2027 ($ Million)List of Figures
1. North America Long-Term Care Market Share by Service Type, 2020 Vs 2027 (%)
2. North America Long-Term Care Market Share by Point of Care, 2020 Vs 2027 (%)
3. North America Long-Term Care Market Share by Country, 2020 Vs 2027 (%)
4. the Us Long-Term Care Market Size, 2020-2027 ($ Million)
5. Canada Long-Term Care Market Size, 2020-2027 ($ Million)
A selection of companies mentioned in this report includes:
- Atria Senior Living, Inc.
- Abri Health Care Services LLC
- Amedisys, Inc.
- Brookdale Senior Living Inc.
- Capital Senior Living Corp.
- Diversicare Healthcare Services Inc.
- Extendicare Inc.
- Genesis Healthcare LLC
- Golden Living Centers
- Home Instead, Inc.
- Kindred Healthcare, LLC
- LHC Group, Inc.
- Lincare Holdings Inc.
- Life Care Centers of America, Inc.
- Promedica Health System, Inc.
- Sunrise Senior Living, LLC
- Savaseniorcare Administrative Services LLC
- Signature Healthcare
- The Ensign Group, Inc.