Long Term Care Market Report 2022-2027: Industry Size, Growth, Share, Trends and Forecast

The latest research study "Long Term Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global long term care market size reached US$ 947.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,399.62 Billion by 2027 exhibiting a growth rate (CAGR) of 6.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Long term care represents several services that assist individuals with cognitive or functional limitations in performing activities of daily living (ADLs), which include eating, walking, grooming, bathing, dressing, using the toilet, etc. They comprise of conventional health services, such as rehabilitation, management of chronic geriatric conditions, palliation, etc., and even cover certain community services, including adult day care, meals, transportation services, etc. As a result, long term care solutions are in high demand among consumers across the globe.

Long Term Care Market Trends and Drivers:

The rising geriatric population afflicted with diabetes, arthritis, pulmonary illnesses, age-related hearing loss, dementia, Alzheimer's, etc., is primarily driving the long term care market. Besides this, the growing number of children suffering from cerebral palsy, down syndrome, and other developmental disorders is also positively influencing the global market.

Moreover, the increasing risk of losing functional capacity among adults who have encountered road accidents and the shifting preferences towards continuity of physician-directed care provided by licensed nurses and practitioners after discharge from the hospital are acting as significant growth-inducing factors.

Additionally, the elevating usage of advanced technologies, such as wander management systems, call systems, nonslip footwear, hip protectors, etc., by the key market players to provide comprehensive assistance is expected to propel the long term care market over the forecasted period.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Service:
• Home Healthcare
• Hospice
• Nursing Care
• Assisted Living Facilities
• Others

Breakup by Gender:
• Male
• Female

Breakup by Payer:
• Public
• Private
• Out-of-Pocket

By Geography:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

List of Major Key Players:

The major players in the market are Amedisys Inc., Atria Senior Living Inc. (Wickshire Senior Living), Brookdale Senior Living Inc., Diversicare Healthcare Services Inc., Extendicare Inc., Genesis HealthCare, Home Instead Inc. (Honor Technology Inc.), Kindred Healthcare (LifePoint Health Inc.), LHC Group Inc. (UnitedHealth Group Incorporated), Sonida Senior Living Corporation, Sunrise Senior Living (Revera Inc.) and Trinity Health

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