Summary
Long Term Care Market Growth & Trends
The global long term care market size is expected to reach USD 1.7 trillion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2021 to 2028. The market is expected to grow primarily owing to the rising prevalence of target diseases, especially Alzheimer’s and dementia, among the aging population. In addition to this, increasing awareness about different long term care (LTC) facilities and the increasing medical coverage for home healthcare are likely to benefit the market growth.
According to World Population Prospects 2020, the global population aged 65 years and above was 703 million in 2020. The number of elderly people is projected to double by 2050 to reach 1.5 billion. The global share of the elderly population increased to 9% in 2020 from 6% in 1990 and is expected to rise further to 16% by 2050 with one in every six people in the world being over 65 years of age. It is expected that people turning 65 years are more likely to take some type of long term care services in the years to come. There has also been a shift towards in-home care from hospitals.
Developing economies make for lucrative markers as far as home healthcare is concerned. India, for instance, has many home healthcare startups such as Health Care at Home, Zoctr, Vatsalya, Zozz, Life Circle Health Services, Healers at Home, and the Nightingales, a factor that has worked in its favor. In India, Portea is one of the key market leaders in in-home healthcare. In November 2017, Portea raised USD 26.0 million in Series C funding for better home healthcare facilities.
Asia Pacific is expected to witness significant growth over the forecast period owing to the increasing rate of chronic diseases, the increasing disposable income, and the decreasing working population. For instance, in China, the one-child policy has eventually decreased the working population as compared to the older population. Industry players are continuously investing in expanding and revamping existing facilities. For instance, in February 2020, Genesis HealthCare underwent a real estate partnership with Next Healthcare Capital. The deal involved 15 skilled nursing facilities previously leased from Welltower Inc.
Long Term Care Market Report Highlights
• The pandemic has created significant pressure on the entire healthcare system, but the most tragic impact is on the long term care facilities for both the younger and older generations in residential care programs
• In terms of service, nursing care held the largest share in 2020 owing to the presence of a large number of facilities offering nursing care, medical supervision, and round-the-clock assistance
• The home healthcare segment emerged as the second-largest service segment in 2020 owing to the increasing awareness regarding such facilities, cost savings offered by them as compared to hospital stays or nursing homes, and proactive health monitoring
• The hospice service segment is expected to witness the fastest growth over the forecast period owing to the increasing incidence rate of Alzheimer's and dementia and an increase in post-hospital care. Moreover, the coverage offered by both Medicaid and private insurers has relieved residents from out-of-pocket payments that have to be borne by them
• North America dominated the market in 2020. This is majorly attributed to the advanced medical infrastructure, awareness about the advantages of home health services, rising geriatric population, and government support. Around 13% of the people in the U.S. are 65 years or above and it is expected that by 2050, one in six Americans would be at least 65 years of age
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Table of Contents
Table of Contents
Chapter 1 Report Scope and Objectives
1.1 Market Segmentation
1.2 Regional Scope
1.3 Estimates and Forecast Timeline
1.4 Research Objectives
1.4.1 Objective - 1
1.4.2 Objective - 2
1.4.3 Objective - 3
Chapter 2 Methodology
2.1 Research Methodology
2.2 Information Procurement
2.2.1 Purchased Database
2.2.2 GVR’s Internal Database
2.2.3 Secondary Sources
2.2.4 Primary Research
2.2.5 Details of Primary Research
2.3 Information or Data Analysis
2.3.1 Data Analysis Models
2.4 Market Formulation & Validation
2.5 Model Details
2.5.1 Commodity Flow Analysis
2.5.1.1 Approach 1: Commodity flow approach
2.5.2 Volume Price Analysis
2.5.2.1 Approach 2: Volume Price Analysis
2.6 List of Secondary Sources
2.7 List of Abbreviations
Chapter 3 Executive Summary
3.1 Market Outlook
3.2 Segment Outlook
3.3 Regional Outlook
3.4 Competitive Insights
Chapter 4 Market Variables, Trends & Scope
4.1 Market Lineage outlook
4.1.1 Parent market outlook
4.2 Market Dynamics
4.2.1 Market driver analysis
4.2.1.1 Growing geriatric population
4.2.1.2 Growing 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 opportunities
4.3 Penetration & Growth Prospect Mapping
4.3.1 Penetration & growth prospect mapping analysis
4.4 Business Environment Analysis Tools
4.4.1 Porter’s five forces analysis
4.4.1.1 Competitive rivalry: High
4.4.1.2 Threat of new entrants: Moderate
4.4.1.3 Bargaining power of buyers: Moderate
4.4.1.4 Bargaining power of suppliers: Moderate
4.4.1.5 Threat of substitutes: Low
4.4.2 PESTEL Analysis
4.4.2.1 Political landscape
4.4.2.2 Economic and social landscape
4.4.2.3 Technology landscape
Chapter 5 Long Term Care (LTC) Market: Service Analysis
5.1 Long Term Care (LTC) Service Market Share Analysis, 2020 & 2028
5.2 Long Term Care (LTC) Service Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the Service Segment
5.3.1 Home healthcare
5.3.1.1 Home healthcare market, 2016 - 2028 (USD Billion)
5.3.2 Hospice
5.3.2.1 Hospice market, 2016 - 2028 (USD Billion)
5.3.3 Nursing care
5.3.3.1 Nursing care market, 2016 - 2028 (USD Billion)
5.3.4 Assisted living facilities
5.3.4.1 Assisted living facilities market, 2016 - 2028 (USD Billion)
5.3.5 Others
5.3.5.1 Others market, 2016 -2028 (USD Billion)
Chapter 6 Long Term Care (LTC) Market: Regional Analysis
6.1 Long Term Care (LTC) Regional Market Share Analysis, 2020 & 2028
6.2 Regional Market Snapshot (Market Size, CAGR, Top Countries)
6.3 List of Players at Regional Level
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.4 Regional SWOT Analysis
6.4.1 North America
6.4.2 Europe
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 MEA
6.5 Market Size, & Forecasts, and Trend Analysis, 2016 to 2028
6.5.1 North America
6.5.1.1 North America Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.1.2 U.S.
6.5.1.2.1 Reimbursement scenario
6.5.1.2.2 U.S. Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.1.3 Canada
6.5.1.3.1 Reimbursement scenario
6.5.1.3.2 Canada Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.2 Europe
6.5.2.1 Europe Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.2.2 U.K.
6.5.2.2.1 Reimbursement scenario
6.5.2.2.2 UK Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.2.3 Germany
6.5.2.3.1 Reimbursement scenario
6.5.2.3.2 Germany Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.2.4 France
6.5.2.4.1 Reimbursement scenario
6.5.2.4.2 France Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.2.5 Italy
6.5.2.5.1 Reimbursement scenario
6.5.2.5.2 Italy Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.2.6 Spain
6.5.2.6.1 Reimbursement scenario
6.5.2.6.2 Spain Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.3 Asia Pacific
6.5.3.1 Asia Pacific Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.3.2 Japan
6.5.3.2.1 Reimbursement scenario
6.5.3.2.2 Japan Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.3.3 China
6.5.3.3.1 Reimbursement scenario
6.5.3.3.2 China Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.3.4 India
6.5.3.4.1 Reimbursement scenario
6.5.3.4.2 India Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.3.5 Australia
6.5.3.5.1 Reimbursement scenario
6.5.3.5.2 Australia Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.4 Latin America
6.5.4.1 Latin America Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.4.2 Brazil
6.5.4.2.1 Reimbursement scenario
6.5.4.2.2 Brazil Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.4.3 Mexico
6.5.4.3.1 Reimbursement scenario
6.5.4.3.2 Mexico Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.4.4 Argentina
6.5.4.4.1 Argentina Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.5 Middle East and Africa
6.5.5.1 MEA Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
6.5.5.2 South Africa
6.5.5.2.1 South Africa Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
Chapter 7 Competitive Analysis
7.1 Recent developments & impact analysis, by key market participants
7.2 Competition Categorization (Key innovators, Market leaders, emerging players
7.3 Vendor Landscape
7.3.1 Company market position analysis (geographic presence, service portfolio, Strategic Initiatives)
7.4 Company Profiles
7.4.1 Brookdale Senior Living Inc.
7.4.1.1 Company overview
7.4.1.2 Financial performance
7.4.1.3 Service benchmarking
7.4.1.4 Strategic initiatives
7.4.1.5 SWOT analysis
7.4.2 Sunrise Senior Living, LLC
7.4.2.1 Company overview
7.4.2.2 Financial performance
7.4.2.3 Service benchmarking
7.4.2.4 Strategic initiatives
7.4.2.5 SWOT analysis
7.4.3 Kindred Healthcare, LLC
7.4.3.1 Company overview
7.4.3.2 Financial performance
7.4.3.3 Service benchmarking
7.4.3.4 Strategic initiatives
7.4.3.5 SWOT analysis
7.4.4 Genesis HealthCare
7.4.4.1 Company overview
7.4.4.2 Financial performance
7.4.4.3 Service benchmarking
7.4.4.4 Strategic initiatives
7.4.4.5 SWOT analysis
7.4.5 Extendicare
7.4.5.1 Company overview
7.4.5.2 Financial performance
7.4.5.3 Service benchmarking
7.4.6 Capital Senior Living Corporation
7.4.6.1 Company overview
7.4.6.2 Financial performance
7.4.6.3 Service benchmarking
7.4.6.4 Strategic initiatives
7.4.6.5 SWOT analysis
7.4.7 Diversicare Healthcare Services, Inc.
7.4.7.1 Company overview
7.4.7.2 Financial performance
7.4.7.3 Service benchmarking
7.4.7.4 Strategic initiatives
7.4.7.5 SWOT analysis
7.4.8 Home Instead, Inc.
7.4.8.1 Company overview
7.4.8.2 Financial performance
7.4.8.3 Service benchmarking
7.4.8.4 Strategic initiatives
7.4.9 Senior Care Center
7.4.9.1 Company overview
7.4.9.2 Financial performance
7.4.9.3 Service benchmarking
7.4.9.4 Strategic initiatives
7.4.10 Atria Senior Living, Inc.
7.4.10.1 Company overview
7.4.10.2 Financial performance
7.4.10.3 Service benchmarking
7.4.10.4 Strategic initiatives
Chapter 8 Recommendations
List of Tables
1. List of secondary sources
2. List of abbreviation
3. Recommendations of vaccines and their dosage (for adults 60 years and
4. Suppliers for the LTC market
5. List of players offering air-purifiers to the long term care facilities
6. List of few home healthcare companies in the U.S
7. List of few hospice companies in the U.S
8. List of few nursing care companies in the U.S
9. List of few assisted living facilities in the U.S
10. List of players in North America
11. List of players in Europe
12. List of players in Asia Pacific
13. Estimated number of future dependents, by the level of dependency
14. National legislation on aging in countries in the Economic and Social Commission for Asia and the Pacific (ESCAP) region
15. North America long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
16. U.S. long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
17. Canada long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
18. Europe long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
19. U.K. long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
20. Germany long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
21. France long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
22. Italy long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
23. Spain long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
24. Asia Pacific long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
25. China long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
26. Japan long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
27. India long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
28. Australia long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
29. Latin America long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
30. Brazil long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
31. Mexico long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
32. Argentina long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
33. Middle East & Africa (MEA) long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
34. South Africa long term care market revenue estimates and forecast by service, 2016 - 2028 (USD Billion)
List of Figures
1. Market research process
2. Data triangulation techniques
3. Primary research pattern
4. Market research approaches
5. Value-chain-based sizing & forecasting
6. QFD modeling for market share assessment
7. Market formulation & validation
8. Market outlook
9. Long term care market segmentation
10. Market trends & outlook
11. Market driver relevance analysis (Current & future impact)
12. Percentage distribution of the population aged 65 and over by region: 2015 and 2050
13. The proportion of people with Alzheimer’s, by age group
14. Number of people with dementia, by country type, 2013-2050 (Million)
15. Women employment trend in the U.S., 2015 and 2024
16. Long term care services providers providing therapeutic services, U.S., 2014 (percentage)
17. Market restraint relevance analysis (Current & future impact)
18. Penetration & growth prospect mapping
19. PORTER'S five forces analysis
20. PESTLE analysis
21. Long term care (LTC) service market share analysis, 2020 & 2028
22. Long term care (LTC) service market: Segment dashboard
23. Home healthcare market, 2016 - 2028 (USD Billion)
24. Hospice market, 2016 - 2028 (USD Billion)
25. Nursing care market, 2016 - 2028 (USD Billion)
26. Assisted living facilities market, 2016 - 2028 (USD Billion)
27. Others market, 2016 - 2028 (USD Billion)
28. Long Term Care (LTC) regional market share analysis, 2020 & 2028
29. Long Term Care (LTC) regional market: Segment dashboard
30. Regional market snapshot
31. North America Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
32. U.S. Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
33. Canada Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
34. Europe Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
35. U.K. Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
36. Germany Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
37. France Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
38. Italy Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
39. Spain Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
40. Asia Pacific Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
41. Japan Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
42. China Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
43. India Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
44. Australia Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
45. Latin America Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
46. Brazil Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
47. Mexico Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
48. Argentina Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
49. MEA Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
50. South Africa Long Term Care (LTC) market, 2016 - 2028 (USD Billion)
51. Strategy framework
52. Strategy framework / Competition categorization
53. Company market position analysis (service portfolio, strategic initiatives, geographic presence)
