Global Nursing Homes and Long-Term Care Facilities market analysis report is framed with the most excellent and sophisticated tools of collecting, recording, estimating and analysing market data. The report provides CAGR values along with its fluctuations for the specific forecast period. Also, the market report contains top to bottom analysis and estimation of various market related factors that are incredibly crucial for better decision making. This business report presents comprehensive explanation of market definition, market segmentation, competitive analysis and key developments in the Healthcare industry. Nursing Homes and Long-Term Care Facilities market report comprises of data that can be very much indispensable when it is about dominating the market or making a mark in the market as a latest emergent.
The market of nursing homes and long-term care facilities is expected to witness significant growth during the forecast period. People aged 65 are expected to be more likely to use certain long-term care services in the future. There was also a shift from hospitals to home care. Long-term care is the support of the elderly who are unable to care for themselves due to physical or mental illness such as chronic or multiple illnesses. Many factors and aspects influence demand in nursing homes and long-term care market. Individual health and functioning have had a major impact on determining the options they deem valuable.
Data Bridge Market Research analyses a growth rate in the nursing homes and long-term care facilities market in the forecast period 2022-2029. The expected CAGR of global nursing homes and long-term care facilities market is tend to be around 9.0% in the mentioned forecast period. The market was valued at USD 1.0 billion in 2021, and it would grow upto USD 1.99 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Long-term care software is the type of technological service/solution that is used for meeting the non-clinical and clinical needs of patients and healthcare providers in home care, hospitals, nursing facilities and several other healthcare-providing areas. These services provide better effectiveness and ease of operations in providing healthcare facilities, thereby reducing healthcare costs and achieving efficiency.
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Global Nursing Homes and Long-Term Care Facilities Market Dynamics
Drivers
Increasing in elderly population
According to World Population Prospects 2020, the world population over the age of 65 was 703 million in 2020. The number of older people is expected to double by 2050 to reach 1.5 billion. The global proportion of the elderly population is projected to increase from 6% in 1990 to 9% in 2020 and further to 16% by 2050, with one in six people worldwide 65 years old. that’s all. People aged 65 are expected to be more likely to use certain long-term care services in the future. There was also a shift from hospitals to home care.
Increasing incidence of dementia
The hospice services segment is expected to experience the fastest growth during the forecast period due to the increased incidence of Alzheimer’s disease and dementia and increased post-hospital care. In addition, compensation provided by both Medicaid and private insurance companies freed residents from the out-of-pocket costs they had to pay.
Opportunities
Government initiatives
Governments in many developing and wealthy countries have enacted policies to extend older people’s productive lifespan. The global long-term care market is benefiting greatly from now on. Nursing homes have been the focus of attention in recent years among those seeking counseling services and mental health.
Rise in Severe Health Disorders
The rise in serious health issues among the elderly population is boosting the growth of the market. The incidence of chronic diseases is rising at a significant pace. The geriatric population also suffer from chronic diseases such as heart problems, cancer, diabetes, Alzheimer’s, and anxiety. Hospitalization for these chronic conditions can be expensive and demand high use of resources. Thus, in this regard the market is creating more opportunity for expansion.
Global Nursing Homes and Long-Term Care Facilities Market Scope
The nursing homes and long-term care facilities market is segmented on the basis of product and mode of delivery. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
EHR
eMAR
Payroll Management
Mode of Delivery
Web-Based
On-Premises
Cloud-Based
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Nursing Homes and Long-Term Care Facilities Market Regional Analysis/Insights
The nursing homes and long-term care facilities market is analysed and market size insights and trends are provided by product and mode of delivery as referenced above.
The major countries covered in the nursing homes and long-term care facilities market are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the nursing homes & long-term care facilities market due to increasing awareness, rapidly improving healthcare infrastructure and massive investments being done by some major players in countries such as India and China in this region.
North America and Europe are the expected regions in terms of growth in nursing homes & long-term care facilities.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Nursing Homes and Long-Term Care Facilities Market Share Analysis
The nursing homes and long-term care facilities market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to nursing homes and long-term care facilities market.
Key players operating in the nursing homes and long-term care facilities market include:
Allscripts Healthcare LLC (U.S.)
Atria Senior Living, Inc.,LLC (U.S.)
ADL Data Systems, Inc. (U.S.)
Omnicell, Inc. (U.S.)
Netsmart Technologies, Inc. (U.S.)
ResMed (U.S.)
McKesson Corporation (U.S.)
PointClickCare (Canada)
MatrixCare (U.S.)
Extendicare (Canada)
Genesis Healthcare (U.S.)
Home Instead, Inc (U.S.)
Knight Health Holdings, LLC (U.S.)
Trinity Health (U.S.)
Columbia Asia (Malaysia)
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Research Methodology:
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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