Long Term Care Market Report

Market Insights

The Global Long Term Care Market is estimated to grow from USD 953.6 billion in 2020 to USD 1,421.2 billion by 2026 at a healthy CAGR of 7.0% during the forecast period.

Figure: Global Long Term Care Market Size, 2020-2026 (USD Billion)

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What is Long Term Care?

Long-term care is defined as a service aimed at meeting personal care or a person’s health care need for a long or short period of time. The long-term care services help the person to live his/her independently and safely when they are unable to do their daily routine activities on their own. These services are provided by various facilities at different places as per the individual’s need.

Key Players

Key players operating in the global Long Term Care market are-

• Brookdale Senior Living Solutions (The U.S),
• Sunrise Senior Living, LLC (The U.S),
• Capital Senior Living Corporation (The U.S),
• Extendicare Inc. (Canada),
• Diversicare Healthcare (The U.S),
• Amedisys Home Health and Hospice Care (The U.S),
• Senior Care Centers (The U.S),
• Lincare Holdings Inc. (The U.S),
• Atria Senior Living Inc. (The U.S), and
• Home Instead Senior Care (The U.S).

Market Dynamics

The global market growth is primarily driven by the increasing elderly population coupled with increased spending on healthcare across geographies.

• Extending life expectancy is also likely to result in increased demand for long-term health care facilities during the review period.
• The growing prevalence of chronic diseases particularly among elders is expected to contribute to the market growth significantly.
• Increasing awareness about the long-term care facilities in the developing economies is anticipated to create lucrative opportunities for the market players.

Segment Analysis

Service Type Trends

Based on service type, the market has been divided into home healthcare services, facility-based care services, and community-based services, and others.

The community-based services segment accounted for the largest share of more than 30 % in 2020. Increasing demand for adult day-care facilities is likely to fuel the product demand at a significant rate during the review period.

Regional Trends

The market in North America accounted for largest share of approximately 40% in 2020 due to increasing geriatric population and presence of various long term healthcare facilities.

The market in Asia-Pacific region is projected to register a healthy growth rate on account of the rising awareness among consumers and increasing government support.

COVID-19 Impact on Global Long Term Care Market

The covid-19 outbreak affected the elder people living in the long-term care facilities with the high impact on morbidity and mortality. The need for infection prevention and control measures increased to mitigate the impact of covid-19 in long term care facilities.

Critical Questions answered in the report -

• What are the key trends in the global long term care market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global long term care market?
• What are the key strategies adopted by the major vendors to lead in the global long term care market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Global long-term care market hopes to have the greatest opportunity to convert-

• Long term care distributors
• Long term care suppliers
• Long term care manufacturers
• Logistics organizations
• Government Bodies

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