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Global Nursing Care Market (Home Health Care Providers, Retirement Communities, Group Care Homes) Trends And Industry Analysis Report

09-26-2019 10:35 AM CET | Health & Medicine

Press release from: The Business research company

Global Nursing Care Market

Global Nursing Care Market

The nursing care market consists of sales of home health care and residential nursing care services and related goods by entities (organizations, sole traders and partnerships) that provide home health care and residential nursing care. This industry includes establishments that provide home healthcare services, nursing care facility services, personal services, counselling services, vocational therapies, rest home services, social services, and nutritional services.

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Major Competitors are Genesis Healthcare, Kaiser Permanente, Brookdale Senior Living, Kindred Healthcare, The Ensign Group, Inc.

Growth in the nursing care market in the historic period resulted from the rapid growth in the size of the elderly population, strong economic growth in emerging markets, changes in social patterns, and health insurance reforms. Factors that negatively affected growth in the historic period were low healthcare access in some countries, shortages of skilled human resources, lack of insurance coverage and weak wage growth in developed economies.

Going forward, faster economic growth, technological developments and increasingly busy and sedentary lifestyles will drive growth. Factors that could hinder the growth of this market in the future include shortages of skilled human resources, insufficient public health insurance coverage, and a rising number of home health entities falling into insolvency.

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Major trends influencing the nursing care market include:
IoT Driving Home Healthcare Market – Many home health care companies are implementing IoT (internet of things) solutions to monitor and track health of chronically ill and geriatric patients. They are adopting these tools to deliver better quality service to patients. Qualcomm and Philips IoT application reduces readmission costs. This application connects medication dispensers, biosensors and self-care glucose meters enabling remote patient monitoring, chronic care management and connected medication management.

Care Providers Opting Custom-Care Packages – Uptake of custom-care packages has increased in the recent past. Custom packages offer a high degree of flexibility of services. A wide range of custom-care packages are being provided by home health and residential nursing care service providers.

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