Long-term Care Market Size, Share & Analysis Report, 2023-2032
The global long-term care market size was exhibited at USD 1.19 Trillion in 2022 and is projected to hit around USD 2.26 Trillion by 2032, growing at a CAGR of 6.63% during the forecast period 2023 to 2032.
Key Pointers:
Long-term Care Market Report Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 1.27 Trillion |
| Market Size by 2032 | USD 2.26 Trillion |
| Growth Rate From 2023 to 203 | CAGR of 6.63% |
| Base Year 2022 | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Services, Payer |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Brookdale Senior Living Inc.; Sunrise Carlisle, LP; Atria Senior Living Group; Extendicare, Inc.; Capital Senior Living; Diversicare Healthcare Services Inc.; Kindred Healthcare, Inc.; Genesis Healthcare Corp.; Senior Care Centers of America; Home Instead Senior Care, Inc.; Amedisys, Inc |
The long-term care (LTC) market is majorly driven by the rise in the global geriatric population. Moreover, an increase in life expectancy impels the need for LTC services. The unmet needs of the elderly are also contributing factors to market growth. With the provision of personal care at home, unnecessary hospitalization is avoided thus preventing the patients from its high cost and from the degrading quality of life.
The increase in the population of older individuals is a major concern in many countries across the globe. The last baby boomers generation reached an age span of 52 to 70 years in 2016, which is the largest aged cohort so far. More than 54% of the geriatric population is concentrated in only six countries-China, the U.S., India, Japan, Germany, and the Russian Federation. This has increased the pressure on the governments of these countries to provide them with care services. Governments of these countries are reforming their healthcare systems to provide the care needed by senior citizens at affordable prices. The U.S. government supports LTC for elders through Medicare and Medicaid systems. These factors are expected to fuel the growth of the LTC market during the forecast period.
The prevalence of chronic diseases is increasing at a significant pace. Along with general age-related disability, the elderly also suffer from chronic diseases such as cancer, heart problems, diabetes, dementia, Alzheimer’s, and mental stress. Hospitalization for chronic conditions can be expensive and entail unnecessary use of resources, which can be utilized by patients in critical conditions. LTC provides specialized care required by the elderly and increasing awareness about these centers as well as their advantages over hospitals is expected to impel market growth.
Another key driving factor in the expansion of the long-term care industry is technological advancement in healthcare delivery. Initially, durable medical devices such as wheelchairs, walkers, and safety blankets were predominantly used for care management. During the forecast period, the market is estimated to be driven by the development of sophisticated user-friendly products and services such as internet-enabled home monitoring, telemedicine, and mobile health apps.
North America dominated the long-term care market with revenue share of 49.35% in 2022, due to the availability of long-term care centers, improving reimbursement framework, and favorable government policies. An estimated 14 million people in the U.S. required long-term support services by February 2020. According to the Department of Health and Human Services (HHS), seven out of every ten senior adults over the age of 65 will require LTC before they die. long-term care is estimated to be needed by 24 million Americans by 2032.
The long-term care industry is still in its infancy in several countries in the Asia-Pacific region, thus the region is expected to have lucrative market growth in the coming years. This is due to an increase in chronic conditions such as heart disease, diabetes, and respiratory problems. In addition, foreign long-term care facilities are investing in countries such as India and Japan. For instance, in October 2013, BAYADA Home Health Care, a US-based home healthcare conglomerate, purchased a 26% share in India Home Health Care (IHHC).
Latin America is expected to grow at the fastest CAGR of 8.19% during the forecast period due to its aging population. However, it currently lacks well-regulated long-term care services in most countries. The inadequate presence of facilities and their nonuniform geographical distribution can lead to a greater burden on unpaid caregivers, such as family. Brazil has a comparatively better market scenario due to its low cost of care, which is attracting baby boomers from the U.S. and Canada.
Some of the prominent players in the Long-term Care Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Long-term Care market.
By Service
By Payer
By Region
Chapter 1 Report Scope and Objectives
1.1 Market Segmentation
1.2 Regional Scope
1.3 Estimates and Forecast Timeline
1.4 Research Objectives
1.4.1 Objective - 1
1.4.2 Objective - 2
1.4.3 Objective - 3
Chapter 2 Methodology
2.1 Research Methodology
2.2 Information Procurement
2.2.1 Purchased Database
2.2.2 Nova one advisor Internal Database
2.2.3 Secondary Sources
2.2.4 Primary Research
2.2.5 Details of Primary Research
2.3 Information or Data Analysis
2.3.1 Data Analysis Models
2.4 Market Formulation & Validation
2.5 Model Details
2.5.1 Commodity Flow Analysis
2.5.1.1 Approach 1: Commodity flow approach
2.5.2 Volume Price Analysis
2.5.2.1 Approach 2: Volume Price Analysis
2.6 List of Secondary Sources
2.7 List of Abbreviations
Chapter 3 Executive Summary
3.1 Market Outlook
3.2 Segment Outlook
3.3 Regional Outlook
3.4 Competitive Insights
Chapter 4 Market Variables, Trends & Scope
4.1 Market Lineage outlook
4.1.1 Parent market outlook
4.2 Market Dynamics
4.2.1 Market driver analysis
4.2.1.1 Growing geriatric population
4.2.1.2 Growing prevalence of target diseases, especially Alzheimer’s and other dementias
4.2.1.3 Increasing employment of women
4.2.1.4 Technological development
4.2.1.5 Increasing government involvement in therapeutic and vaccination in LTC facilities
4.2.2 Market restraint analysis
4.2.2.1 Lack of skilled human resources
4.2.2.2 Stringent regulations
4.2.2.3 Lower remunerations
4.2.3 Industry opportunities
4.3 Penetration & Growth Prospect Mapping
4.3.1 Penetration & growth prospect mapping analysis
4.4 Business Environment Analysis Tools
4.4.1 Porter’s five forces analysis
4.4.1.1 Competitive rivalry: High
4.4.1.2 Threat of new entrants: Moderate
4.4.1.3 Bargaining power of buyers: Moderate
4.4.1.4 Bargaining power of suppliers: Moderate
4.4.1.5 Threat of substitutes: Low
4.4.2 PESTEL Analysis
4.4.2.1 Political landscape
4.4.2.2 Economic and social landscape
4.4.2.3 Technology landscape
Chapter 5 Long-term care (LTC) Market: Service Analysis
5.1 Long-term care (LTC) Services Market Share Analysis, 2023 & 2032
5.2 Long-term care (LTC) Services Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2020 to 2032 for the Services Segment
5.3.1 Home healthcare
5.3.1.1 Home healthcare market, 2020 - 2032
5.3.2 Hospice & Palliative Care
5.3.2.1 Hospice & Palliative Care market, 2020 - 2032
5.3.3 Nursing care
5.3.3.1 Nursing care market, 2020 - 2032
5.3.4 Assisted living facilities
5.3.4.1 Assisted living facilities market, 2020 - 2032
5.3.5 Others
5.3.5.1 Others market, 2020 - 2032
Chapter 6 Long-term care (LTC) Market: Payer Analysis
6.1 Long-term care (LTC) Payer Market Share Analysis, 2023 & 2032
6.2 Long-term care (LTC) Payer Market: Segment Dashboard
6.3 Market Size & Forecasts and Trend Analyses, 2020 to 2032 for the Payer Segment
6.3.1 Public
6.3.1.1 Public Market, 2020 - 2032
6.3.2 Private
6.3.2.1 Private market, 2020 - 2032
6.3.4 Out of Pocket
6.3.4.1 Out of Pocket market, 2020 - 2032
Chapter 7 Long-term care (LTC) Market: Regional Analysis
7.1 Long-term care (LTC) Regional Market Share Analysis, 2020 & 2032
7.2 Regional Market Snapshot
7.3 List of Players at Regional Level
7.3.1 North America
7.3.2 Europe
7.3.3 Asia Pacific
7.4 Regional SWOT Analysis
7.4.1 North America
7.4.2 Europe
7.4.3 Asia Pacific
7.4.4 Latin America
7.4.5 MEA
7.5 Market Size, & Forecasts, and Trend Analysis, 2020 to 2032
7.5.1 North America
7.5.1.1 North America long-term care market, 2020 - 2032
7.5.1.2 U.S.
7.5.1.2.1 Reimbursement scenario
7.5.1.2.2 U.S. long-term care market, 2020 - 2032
7.5.1.3 Canada
7.5.1.3.1 Reimbursement scenario
7.5.1.3.2 Canada long-term care market, 2020 - 2032
7.5.2 Europe
7.5.2.1 Europe long-term care market, 2020 - 2032
7.5.2.2 UK
7.5.2.2.1 Reimbursement scenario
7.5.2.2.2 UK long-term care market, 2020- 2032
7.5.2.3 Germany
7.5.2.3.1 Reimbursement scenario
7.5.2.3.2 Germany long-term care market, 2020- 2032
7.5.2.4 France
7.5.2.4.1 Reimbursement scenario
7.5.2.4.2 France long-term care market, 2020- 2032
7.5.2.5 Italy
7.5.2.5.1 Reimbursement scenario
7.5.2.5.2 Italy long-term care market, 2020- 2032
7.5.2.6 Spain
7.5.2.6.1 Reimbursement scenario
7.5.2.6.2 Spain long-term care market, 2020 - 2032
7.5.3 Asia Pacific
7.5.3.1 Asia Pacific long-term care market, 2020 - 2032
7.5.3.2 Japan
7.5.3.2.1 Reimbursement scenario
7.5.3.2.2 Japan long-term care market, 2020 - 2032
7.5.3.3 China
7.5.3.3.1 Reimbursement scenario
7.5.3.3.2 China long-term care market, 2020 - 2032
7.5.3.4 India
7.5.3.4.1 Reimbursement scenario
7.5.3.4.2 India long-term care market, 2020 - 2032
7.5.3.5 Australia
7.5.3.5.1 Reimbursement scenario
7.5.3.5.2 Australia long-term care market, 2020 - 2032
7.5.3.6 South Korea
7.5.3.6.1 Reimbursement scenario
7.5.3.6.2 South Korea long-term care market, 2020 - 2032
7.5.4 Latin America
7.5.4.1 Latin America long-term care market, 2020 - 2032
7.5.4.2 Brazil
7.5.4.2.1 Reimbursement scenario
7.5.4.2.2 Brazil long-term care market, 2020 - 2032
7.5.4.3 Mexico
7.5.4.3.1 Reimbursement scenario
7.5.4.3.2 Mexico long-term care market, 2020 - 2032
7.5.4.4 Argentina
7.5.4.4.1 Argentina long-term care market, 2020 - 2032
7.5.5 Middle East and Africa
7.5.5.1 MEA long-term care market, 2020 - 2032
7.5.5.2 South Africa
7.5.5.2.1 South Africa long-term care market, 2020 - 2032
7.5.5.3 Saudi Arabia
7.5.5.3.1 Saudi Arabia long-term care market, 2020 - 2032
7.5.5.4 UAE
7.5.5.4.1 UAE long-term care market, 2020 - 2032
Chapter 8 Competitive Analysis
8.1 Recent developments & impact analysis, by key market participants
8.2 Competition Categorization (Key innovators, Market leaders, emerging players
8.3 Company Market Position Analysis
8.4 Company Profiles
8.4.1 Brookdale Senior Living Inc.
8.4.1.1 Company overview
8.4.1.2 Financial performance
8.4.1.3 Service benchmarking
8.4.1.4 Strategic initiatives
8.4.1.5 SWOT analysis
8.4.2 Sunrise Senior Living, LLC
8.4.2.1 Company overview
8.4.2.2 Financial performance
8.4.2.3 Service benchmarking
8.4.2.4 Strategic initiatives
8.4.2.5 SWOT analysis
8.4.3 Kindred Healthcare, LLC
8.4.3.1 Company overview
8.4.3.2 Financial performance
8.4.3.3 Service benchmarking
8.4.3.4 Strategic initiatives
8.4.3.5 SWOT analysis
8.4.4 Genesis HealthCare
8.4.4.1 Company overview
8.4.4.2 Financial performance
8.4.4.3 Service benchmarking
8.4.4.4 Strategic initiatives
8.4.4.5 SWOT analysis
8.4.5 Extendicare
8.4.5.1 Company overview
8.4.5.2 Financial performance
8.4.5.3 Service benchmarking
8.4.6 Capital Senior Living Corporation
8.8.6.1 Company overview
8.4.6.2 Financial performance
8.4.6.3 Service benchmarking
8.4.6.4 Strategic initiatives
8.4.6.5 SWOT analysis
8.4.7 Diversicare Healthcare Services, Inc.
8.4.7.1 Company overview
8.4.7.2 Financial performance
8.4.7.3 Service benchmarking
8.4.7.4 Strategic initiatives
8.4.7.5 SWOT analysis
8.4.8 Home Instead, Inc.
8.4.8.1 Company overview
8.4.8.2 Financial performance
8.4.8.3 Service benchmarking
8.4.8.4 Strategic initiatives
8.4.9 Senior Care Center
8.4.9.1 Company overview
8.4.9.2 Financial performance
8.4.9.3 Service benchmarking
8.4.9.4 Strategic initiatives
8.4.10 Atria Senior Living, Inc.
8.4.10.1 Company overview
8.4.10.2 Financial performance
8.4.10.3 Service benchmarking
8.4.10.4 Strategic initiatives
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers