Long-Term Care Market size to grow at a CAGR of 3.33% from 2022 to 2027, North America is estimated to contribute to 35% of the global market growth- Technavio

NEW YORK, April 17, 2023 /PRNewswire/ -- The long-term care market size is expected to grow by USD 398.4 billion from 2022 to 2027, progressing at a CAGR of over 3.33% as per the latest Technavio market research report. North America is estimated to account for 35% of the market's overall growth. The growth of the LTC market in the region can be attributed to factors such as the aging population, rising use of long-term care services, and rising public awareness. The US dominates the regional growth due to its high consumption rate and high disposable income. Due to a large number of long-term care facilities and rehabilitation centers, North America has higher potential compared to other regions. Additionally, various adult daycare centers, hospice services, and nursing home facilities have increased the range of services that are offered in the regional market. For more insights on the market share of various regions- Download a sample report in MINUTES.

Long-Term Care Market: Growing demand for long-term care from the aging population to drive growth

• The increasing demand for long-term care from the aging population is a major driver for the growth of the LTC market during the forecast period.
• Due to their susceptibility to both communicable and non-communicable diseases, the geriatric population requires home healthcare services.
• Owing to the convenience and growing acceptance of services like assistive living care and home-based diagnosis, long-term care services, such as home healthcare services are in demand.
• In addition, many lifestyle diseases like diabetes and cardiovascular disease are more common in the elderly population, which demands nursing care and stroke recovery care services. 
• Some other services aimed at the geriatric population include personal care, companion management, palliative care, fit-mind cognitive care, hospital discharge services, and home support care services.

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Long-Term Care Market: Expansion And Growth Of Several Healthcare Domains 

• An emerging LTC market trend that is expected to fuel the growth of the market is the technological advances in LTC. 
• More people are using the internet, leading to the development of online platforms, mobile apps, and mHealth. This, in turn, drives the growth of the long-term care market.
• Some of the long-term care services in high demand include mobile applications, wearables and trackers, communication tools, and smart alarms.
• Through these services, caretakers and nurses can monitor, record, and observe patients, along with being able to communicate with physicians and other HCPs.
• Hence, such factors will drive the growth of the global long-term care (LTC) market during the forecast period.

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Some of the key Long-Term Care Market Players:

The long-term care market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Sunrise Senior Living LLC, Wickshire Senior Living, Extendicare Canada Inc., Sonida Senior Living Corp., Diversicare Healthcare Services Inc., Kindred Health Holdings LLC, Genesis Healthcare Inc., Life Care Centers of America Inc., Honor Technology Inc., Amedisys Inc., FCP Live In, CareOne Management LLC, Illumifin Corp., Brookdale Senior Living Inc., Abri Health Care Services LLC, SeniorLiving.org, and Revera Inc. are among the top market players.

This long-term care market report extensively covers market segmentation by application (nursing care and assisted living facilities, home healthcare, and hospice), type (government, public and private players, out of the pocket, and private insurance), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the nursing home and assisted living facilities segment will be significant for the market growth during the forecast period. Nursing homes provide institutional care to the patients who need significant help with their daily activities like bathing, using the restroom, and transferring. Thus, nursing homes have a high occupancy rate and benefit from their early market penetration, representing the second largest market segment for LTC globally. Most assisted living facilities provide staff members and licensed medical professionals on duty for 24 hours, whereas assisted living facilities frequently have living quarters that resemble apartments. But these apartments might not permit residents to have kitchens in their residences due to safety concerns. 

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Key Topics Covered:   

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global long term care market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global long term care market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 By Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – By Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Nursing care and assisted living facilities - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Nursing care and assisted living facilities - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Nursing care and assisted living facilities - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Nursing care and assisted living facilities - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Nursing care and assisted living facilities - Year-over-year growth 2022-2027 (%)

• 6.4 Home healthcare - Market size and forecast 2022-2027
• Exhibit 38: Chart on Home healthcare - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Home healthcare - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Home healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Home healthcare - Year-over-year growth 2022-2027 (%)

• 6.5 Hospice - Market size and forecast 2022-2027
• Exhibit 42: Chart on Hospice - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Hospice - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Hospice - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Hospice - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ billion)
• Exhibit 47: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Government - Market size and forecast 2022-2027
• Exhibit 52: Chart on Government - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Government - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Government - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Government - Year-over-year growth 2022-2027 (%)

• 7.4 Public and private players - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Public and private players - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Public and private players - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Public and private players - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Public and private players - Year-over-year growth 2022-2027 (%)

• 7.5 Out of the pocket - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Out of the pocket - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Out of the pocket - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Out of the pocket - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Out of the pocket - Year-over-year growth 2022-2027 (%)

• 7.6 Private insurance - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Private insurance - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Private insurance - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Private insurance - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Private insurance - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 68: Market opportunity by Type ($ billion)
• Exhibit 69: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 83: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027
• Exhibit 107: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 111: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ billion)
• Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Abri Health Care Services LLC 
• Exhibit 123: Abri Health Care Services LLC - Overview
• Exhibit 124: Abri Health Care Services LLC - Product / Service
• Exhibit 125: Abri Health Care Services LLC - Key offerings

• 12.4 Amedisys Inc. 
• Exhibit 126: Amedisys Inc. - Overview
• Exhibit 127: Amedisys Inc. - Business segments
• Exhibit 128: Amedisys Inc. - Key offerings
• Exhibit 129: Amedisys Inc. - Segment focus

• 12.5 CareOne Management LLC 
• Exhibit 130: CareOne Management LLC - Overview
• Exhibit 131: CareOne Management LLC - Product / Service
• Exhibit 132: CareOne Management LLC - Key offerings

• 12.6 Diversicare Healthcare Services Inc.
• Exhibit 133: Diversicare Healthcare Services Inc. - Overview
• Exhibit 134: Diversicare Healthcare Services Inc. - Product / Service
• Exhibit 135: Diversicare Healthcare Services Inc. - Key offerings

• 12.7 Extendicare Canada Inc. 
• Exhibit 136: Extendicare Canada Inc. - Overview
• Exhibit 137: Extendicare Canada Inc. - Business segments
• Exhibit 138: Extendicare Canada Inc. - Key offerings
• Exhibit 139: Extendicare Canada Inc. - Segment focus

• 12.8 FCP Live In 
• Exhibit 140: FCP Live In - Overview
• Exhibit 141: FCP Live In - Product / Service
• Exhibit 142: FCP Live In - Key offerings

• 12.9 Genesis Healthcare Inc. 
• Exhibit 143: Genesis Healthcare Inc. - Overview
• Exhibit 144: Genesis Healthcare Inc. - Business segments
• Exhibit 145: Genesis Healthcare Inc. - Key news
• Exhibit 146: Genesis Healthcare Inc. - Key offerings
• Exhibit 147: Genesis Healthcare Inc. - Segment focus

• 12.10 Honor Technology Inc. 
• Exhibit 148: Honor Technology Inc. - Overview
• Exhibit 149: Honor Technology Inc. - Product / Service
• Exhibit 150: Honor Technology Inc. - Key offerings

• 12.11 Illumifin Corp. 
• Exhibit 151: Illumifin Corp. - Overview
• Exhibit 152: Illumifin Corp. - Product / Service
• Exhibit 153: Illumifin Corp. - Key offerings

• 12.12 Kindred Health Holdings LLC 
• Exhibit 154: Kindred Health Holdings LLC - Overview
• Exhibit 155: Kindred Health Holdings LLC - Product / Service
• Exhibit 156: Kindred Health Holdings LLC - Key offerings

• 12.13 Life Care Centers of America Inc.
• Exhibit 157: Life Care Centers of America Inc. - Overview
• Exhibit 158: Life Care Centers of America Inc. - Product / Service
• Exhibit 159: Life Care Centers of America Inc. - Key offerings

• 12.14 SeniorLiving.org 
• Exhibit 160: SeniorLiving.org - Overview
• Exhibit 161: SeniorLiving.org - Product / Service
• Exhibit 162: SeniorLiving.org - Key offerings

• 12.15 Sonida Senior Living Corp. 
• Exhibit 163: Sonida Senior Living Corp. - Overview
• Exhibit 164: Sonida Senior Living Corp. - Product / Service
• Exhibit 165: Sonida Senior Living Corp. - Key offerings

• 12.16 Sunrise Senior Living LLC 
• Exhibit 166: Sunrise Senior Living LLC - Overview
• Exhibit 167: Sunrise Senior Living LLC - Product / Service
• Exhibit 168: Sunrise Senior Living LLC - Key news
• Exhibit 169: Sunrise Senior Living LLC - Key offerings

• 12.17 Wickshire Senior Living 
• Exhibit 170: Wickshire Senior Living - Overview
• Exhibit 171: Wickshire Senior Living - Product / Service
• Exhibit 172: Wickshire Senior Living - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations 
• Exhibit 179: List of abbreviations

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio