United States' Long Term Care Market to Cross $750 Billion by 2027 - Hospices Projected to Exhibit the Fastest Growth through 2020-2027

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Apr 08, 2020, 17:15 ET

DUBLIN, April 8, 2020 /PRNewswire/ -- The "U.S. Long Term Care Market Size, Share & Trends Analysis Report by Service (Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities), and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The U.S. long term care market size is expected to reach USD 751.9 billion by 2027, expanding at a CAGR of 6.8%.

The market is expected to be driven by the rising incidence of chronic disorders in U.S., which can be attributed to a large aging population and unhealthy lifestyle. Rising prevalence of dementia, Alzheimer's, heart disorders, respiratory diseases, and mental disorders is likely to increase the burden on long term care settings over the coming years.

According to the population projection report published by the U.S. Census Bureau in 2016, the population of millennials in U.S. is expected to surpass the population of baby boomers by 2019. As of 2016, millennials were categorized as the population aged 20 to 35 years and baby boomers were those aged between 52 and 72 years. In 2016, the population of millennials was 71 million and that of baby boomers was around 74 million. While the former will rise to 73 million in 2019, the latter will drop to 72 million. Generation X, the population group aged between 36 and 51 years, is anticipated to surpass the boomers by 2028.

Technological developments are a key characteristic of the market for long term care in U.S. In order to enhance patient quality of life, long term care facilities such as hospice have started installing wireless video-conferencing devices. These devices enable patients to access the internet from their rooms and facilitate easy communication with friends and family. These computer-based technologies have helped enhance communication between hospice nurses and caregivers and enabled them to make decisions and provide real-time solutions or coaching tips.

Further key findings from the study suggest:

The nursing care segment dominated the market for long term care in U.S. in terms of revenue in 2019. This can be attributed to the presence of a large number of facilities offering medical supervision and round the clock assistance
The hospice segment is projected to exhibit the fastest growth during the forecast period due to the increasing incidence rate of Alzheimer's and dementia and surge in post-hospital medical assistance
The U.S long term care Market has been witnessing several mergers and acquisitions and partnerships resulting in the integration of various services and maximizing revenue. For instance, in November 2019, the U.S. leading independent personal care, hospice, and home health company named Amedisys, Inc., signed an agreement to acquire a hospice care provider, Asana Hospice which offers service to around 540 patients daily in eight locations in Ohio, Pennsylvania, Missouri, Texas, and Kansas
In March 2017, Brookdale and its affiliates of Blackstone Real Estate Advisors VIII L.P. formed a venture called the Blackstone Venture, which acquired 64 senior housing communities for USD 1.1 billion
Key players operating in the market are Brookdale Senior Living, Inc., Sunrise Carlisle, LP, Atria Senior Living Group, Senior Care Centers of America, Amedisys, Inc., Kindred Healthcare, Inc., Genesis Healthcare Corp., Home Instead Senior Care, Inc., Capital Senior Living Corporation, and Diversicare Healthcare Services, Inc

Key Topics Covered

Chapter 1 Research Objectives

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.2.1 Service
2.2.1 Region
2.3 Competitive Insights
2.4 U.S. Long Term Care (LTC) Market Snapshot

Chapter 3 U.S. Long Term Care (LTC) Market Variables, Trends & Scope
3.1 Market Trend & Outlook
3.2 Market Lineage Outlook
3.2.1 Parent Market Outlook
3.2.2 Related/Ancillary Market Outlook
3.3 Market Segmentation
3.4 Penetration and Growth Prospect Mapping
3.4.1 Analysis
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Growing Geriatric Population
3.5.1.2 Growing Prevalence of Target Diseases, Especially Alzheimer's and Other Dementias
3.5.1.3 Increasing Employment of Women
3.5.1.4 Technological Development
3.5.1.5 Increasing Government Involvement in Therapeutic & Vaccination in LTC Facilities
3.5.2 Market Restraint Analysis
3.5.2.1 Lack of Skilled Human Resources
3.5.2.2 Stringent Regulations
3.5.2.3 Lower Remunerations
3.6 Business Environment Analysis Tools
3.6.1 Industry Analysis - Porter's
3.6.1.1 Competitive Rivalry: High
3.6.1.2 Threat of New Entrants
3.6.1.3 Bargaining Power of Buyers
3.6.1.4 Bargaining Power of Suppliers
3.6.1.5 Threat of Substitutes
3.6.2 PEST Analysis
3.6.2.1 Political Landscape
3.6.2.2 Economic & Social Landscape
3.6.2.3 Technology Landscape
3.7 Major Deals & Strategic Alliances Analysis
3.7.1 Joint Ventures & Partnerships
3.7.2 Mergers & Acquisitions

Chapter 4 U.S. Long Term Care (LTC) Market: Service Estimates & Trend Analysis
4.1 Segment Dashboard
4.2 U.S. Long Term Care (LTC) Market: Service Movement Analysis, USD Billion, 2019 & 2027
4.2.1 Home Healthcare
4.2.2 Hospice
4.2.3 Nursing Care
4.2.4 Assisted Living Facilities
4.2.5 Others

Chapter 5 U.S. Long Term Care (LTC) Market: Regional Estimates & Trend Analysis
5.1 U.S.
5.1.1 Regulatory & Reimbursement Scenario
5.1.2 U.S. Long Term Care (LTC) Market Estimates and Forecasts, 2016-2027 (USD Billion)

Chapter 6 Competitive & Vendor Landscape
6.1 Recent Developments & Impact Analysis, by Key Market Participants
6.1.1 Analysis
6.2 Strategic Framework/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
6.2.1 Analysis
6.3 Vendor Landscape
6.3.1 Company Market Position Analysis (Service Portfolio, Facilities, Employee Strength, Strategic Initiatives)
6.4 Company Profiles
6.4.1 Brookdale Senior Living Solutions
6.4.2 Sunrise Carlisle, L.P. (Sunrise Senior Living, LLC)
6.4.3 Kindred Healthcare, Inc.
6.4.4 Amedisys, Inc.
6.4.5 Genesis Healthcare, Inc.
6.4.6 Capital Senior Living Corporation
6.4.7 Diversicare Healthcare Services, Inc.
6.4.8 Home Instead, Inc.
6.4.9 Senior Care Center of America
6.4.10 Atria Senior Living, Inc.

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