Global Long-Term Care Market 2021-2027

Global 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 global long-term care market is anticipated to grow at a significant growth rate of 7.2% during the forecast period. The population growth and aging are two significant factors contributing to the long-term care services adoption across the globe. As per the World Health Organization (WHO), more developed countries have the oldest population profiles by age, however, the older people and rapidly aging population are largest in the emerging markets. With that, the increase in older population level in the emerging markets, by 2050, is expected to be more than 250%, when compared to the 71% increase in the developed countries. With the rise in aging population, communicable and non-communicable diseases are expected to account for more than half of the disease burden in the low-income countries, and more than three-fourths in middle-income countries, by 2030, as per the WHO. 

The low-grade persistent inflammation, which often leads to degeneration of several organs, is seen majorly in older age groups. Therefore, it becomes important for family caregivers and healthcare providers to be involved in a consistent monitoring of patients having chronic diseases. In comparison to young individuals, the aged population have consistently elevated levels of inflammatory cytokines, especially interleukin-6 (IL-6) and tumor necrosis factor-alpha (TNF-alpha), which often lead to muscle atrophy and cancer through DNA damage. This demands more care of these patients at the family level and by the healthcare providers. With the growth of geriatric population levels in the major populous countries of the world, like China and India, the central governments in these countries have issued a series of policies and measures in recent years to offer a comprehensive range of services in both rural and urban areas, which are further financially supported by individuals, families, communities, and care institutions. Thus, with the rising geriatric population, the market for long-term care is set to grow exponentially, in the next few years.

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. 

Geographically, the long-term care market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America is expected to lead the market value share as the region is home to most of the major long-term care service providers. In the US, the Affordable Care Act (ACA) has authorized a broad range of reform projects, including accountable care organizations (ACOs), bundled payments, value-based purchasing, primary care initiatives, and other payment and service delivery models, which also help in long-term care services across the country.

Research Methodology

The market study of the global 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.

Market Segmentation

1. Global Long-Term Care Market Research and Analysis by Service Type
2. Global Long-Term Care Market Research and Analysis by Point of Care

The Report Covers

• Comprehensive Research Methodology of the global 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 global long-term care market.
• Insights about market determinants which are stimulating the global long-term care market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.