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U.S. Long Term Care Market Size, Share & Trends Analysis Report by Service (Skilled Nursing Facility, Home Healthcare, Assisted Living Facilities, Hospice & Palliative Care and Others), and Segment Forecasts, 2022-2030

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    Report

  • 95 Pages
  • April 2022
  • Region: United States
  • Grand View Research
  • ID: 4396501
The U.S. long term care market size is expected to reach USD 779.4 billion by 2030, expanding at a CAGR of 5.97%. High prevalence of target diseases, especially Alzheimer’s, heart diseases, Parkinson's disease, and other dementias, in the U.S. is expected to drive the market growth. According to the CDC, 6 of 10 adults in the U.S. have a chronic disease. The increasing geriatric population, rising healthcare costs, and an increasing number of nuclear families are among the key factors driving the regional market. Furthermore, rapid technological advancements and easy availability of Medicare and Medicaid & private insurance are likely to drive the market growth.



The State & Federal Governments of the U.S. are taking initiatives for long-term care. According to New York State (NYS) Public Health Law Article 21-A, it is mandatory for a facility to provide pneumococcal and influenza vaccination to the residents and healthcare professionals. This has driven the demand for immunization supplies from LTC facilities. Nursing care centers have emerged as one of the highest providers of therapeutic and vaccination services of all types.

In the U.S., the increasing burden on hospitals due to heart diseases, diabetes, and dementia requires long-term care & repeated hospitalization. According to the American Hospital Association, the U.S. witnessed 36,241,815 hospitalizations in 2021. Hospitals in the U.S. are currently focused on the treatment of COVID-19 leading to the neglect of other chronic health issues. The scenario is creating major opportunities for long-term care providers such as skilled nursing facilities, home healthcare facilities, & assisted living facilities to reduce the burden on hospitals and urgent care facilities by providing quality healthcare services and post-surgery care.

U.S. Long Term Care Market Report Highlights

  • The skilled nursing facility segment dominated the market for long-term care in the U.S. in terms of revenue in 2021. This can be attributed to the presence of a large number of facilities offering medical supervision and round the clock assistance.
  • Although the geriatric population is the major consumer pool of these services, other age groups are also benefiting from long-term care. Increasing demand for long-term care for all ages is creating major opportunities for home healthcare service providers in the U.S.
  • 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 October 2021, Amedisys announced the expansion of its home healthcare services with the opening of new centers in Charlotte and Raleigh, North Carolina.
  • In August 2021, Humana acquired Kindred at Home, which includes services such as personal care, hospice, and home health.
  • Group purchasing organizations contribute to the growth of the LTC market as they facilitate the distribution of medical supplies, pharmaceuticals products, and vaccinations. There are organizations dedicated to LTC facilities operating mainly in the U.S. GeriMed is a group purchasing organization, which offers pharmacy and contract services to the LTC in the U.S.
  • A significant increase in the adoption of telehealth solutions since 2020 is expected to increase the adoption rate of LTC software. Among long-term care providers, home healthcare centers and skilled nursing facilities are leading users of long-term care software .

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Estimates and Forecast Timeline
1.2 Research Objectives
1.2.1 Objective-1
1.2.2 Objective-2
1.2.3 Objective-3
Chapter 2 Research Methodology
2.1 Information Procurement
2.1.1 Purchased Database:
2.1.2 Internal Database
2.1.3 Secondary Sources
2.1.4 Primary Research
2.2 Information or Data Analysis
2.3 Market Formulation & Validation
2.4 Model Details
2.4.1 Commodity Flow Analysis
2.5 List of Secondary Sources
2.6 List of Abbreviations
Chapter 3 Executive Summary
3.1 Market Outlook
3.2 Segment Outlook
3.2.1 Service
3.3 Competitive Insights
Chapter 4 Market Variables, Trends & Scope
4.1 Market Lineage Outlook
4.1.1 Parent Market Outlook
4.1.2 Related/Ancillary Market Outlook
4.2 Market Dynamics
4.2.1 Market Driver Analysis
4.2.1.1 Growing geriatric population
4.2.1.2 Increasing 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 Challenges
4.2.3.1 Paying for long-term care
4.2.4 Industry Opportunities
4.2.4.1 Increasing burden on hospitals
4.3 Penetration & Growth Prospect Mapping
4.4 Business Environment Analysis Tools
4.4.1 PESTEL Analysis
4.4.1.1 Political & legal landscape
4.4.1.2 Economic and social landscape
4.4.1.3 Technology landscape
4.4.2 Porter’s Five Forces Analysis
4.4.2.1 Competitive rivalry: High
4.4.2.2 Threat of new entrants: Moderate
4.4.2.3 Bargaining power of buyers: Moderate
4.4.2.4 Bargaining power of suppliers: Low
4.4.2.5 Threat of substitutes: Moderate
4.5 Impact of COVID-19 on the U.S. Long-term Care Market
Chapter 5 U.S. Long-term Care (LTC) Market: Service Analysis
5.1 U.S. Long-term Care (LTC) Market Share Analysis, 2021 & 2030
5.2 Segment Dashboard
5.3 Skilled Nursing Facility
5.3.1 Reimbursement Scenario
5.3.2 Skilled Nursing Facility market, 2017-2030 (USD Billion)
5.4 Home Healthcare
5.4.1 Reimbursement scenario
5.4.2 Home healthcare market, 2017-2030 (USD Billion)
5.5 Assisted Living Facilities
5.5.1 Reimbursement scenario
5.5.2 Assisted living facilities market, 2017-2030 (USD Billion)
5.6 Hospice & Palliative Care
5.6.1 Reimbursement Scenario
5.6.2 Hospice & palliative care market, 2017-2030 (USD Billion)
5.7 Others
5.7.1 Other long term care services market, 2017-2030 (USD Billion)
Chapter 6 Competitive Analysis
6.1 Recent Developments & Impact Analysis, by Key Market Participants
6.2 Competition Categorization (Key innovators, market leaders, emerging players)
6.3 Major Deals & Strategic Alliances Analysis
6.3.1 Joint Ventures & Partnerships
6.3.2 Mergers & Acquisitions
6.4 Company Market Position Analysis
6.5 Company Profiles
6.5.1 Brookdale Senior Living Inc.
6.5.1.1 Company overview
6.5.1.2 Financial performance
6.5.1.3 Service benchmarking
6.5.1.4 Strategic initiatives
6.5.1.5 SWOT analysis
6.5.2 Sunrise Senior Living, LLC
6.5.2.1 Company overview
6.5.2.2 Financial performance
6.5.2.3 Service benchmarking
6.5.2.4 Strategic initiatives
6.5.2.5 SWOT analysis
6.5.3 Kindred Healthcare, LLC
6.5.3.1 Company overview
6.5.3.2 Financial performance
6.5.3.3 Service benchmarking
6.5.3.4 Strategic initiatives
6.5.3.5 SWOT analysis
6.5.4 Amedisys, Inc.
6.5.4.1 Company overview
6.5.4.2 Financial performance
6.5.4.3 Product benchmarking
6.5.4.4 Strategic initiatives
6.5.4.5 SWOT analysis
6.5.5 Genesis HealthCare
6.5.5.1 Company overview
6.5.5.2 Financial performance
6.5.5.3 Service benchmarking
6.5.5.4 Strategic initiatives
6.5.5.5 SWOT analysis
6.5.6 Capital Senior Living Corporation
6.5.6.1 Company overview
6.5.6.2 Financial performance
6.5.6.3 Service benchmarking
6.5.6.4 Strategic initiatives
6.5.6.5 SWOT analysis
6.5.7 Diversicare Healthcare Services, Inc.
6.5.7.1 Company overview
6.5.7.2 Financial performance
6.5.7.3 Service benchmarking
6.5.7.4 Strategic initiatives
6.5.7.5 SWOT analysis
6.5.8 Home Instead, Inc.
6.5.8.1 Company overview
6.5.8.2 Financial performance
6.5.8.3 Service benchmarking
6.5.8.4 Strategic initiatives
6.5.9 Senior Care Center
6.5.9.1 Company overview
6.5.9.2 Financial performance
6.5.9.3 Service benchmarking
6.5.9.4 Strategic initiatives
6.5.10 Atria Senior Living, Inc.
6.5.10.1 Company overview
6.5.10.2 Financial performance
6.5.10.3 Service benchmarking
6.5.10.4 Strategic initiatives

Companies Mentioned

  • Brookdale Senior Living Inc.
  • Sunrise Senior Living, LLC
  • Kindred Healthcare, LLC
  • Amedisys, Inc.
  • Genesis Healthcare
  • Capital Senior Living Corporation
  • Diversicare Healthcare Services, Inc.
  • Home Instead, Inc.
  • Senior Care Center
  • Atria Senior Living, Inc.

Methodology

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Table Information