Private Nursing Services Market Worth $848.7 Bn by 2031 | North America held the lion's share

According to the report published by Allied Market Research, the global private nursing services market generated $415.7 billion in 2021, and is projected to reach $848.7 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

North America dominated the global private nursing services market in 2021 and is projected to be the fastest growing region during the forecast period.

The female sector dominated the nursing care market as they are more sensitive than male nurses and treat patients with greater care.

The increase in the prevalence of chronic diseases and the rise in the number of nuclear families are anticipated to have a positive impact on the private nursing services market.

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Private Nursing Services Market Drivers:

Surge in occurrence of chronic disorders among the geriatric population requiring effective nursing services and the huge demand for cost-efficient treatment.

COVID-19 Scenario:

The outbreak of the COVID-19 pandemic negatively impacted the growth of the global private nursing services market. This was a result of private nursing service organizations ceasing their operations, owing to lockdowns imposed across several countries, staff shortage, and the fear of contracting the novel coronavirus.

Strict implementation of social distancing laws, closed boundaries, and delay in the production of healthcare products, owing to the pandemic across various countries such as China, India, and the U.S. severely affected the global market growth.

Market Segmentation:

Allied Market Research has analyzed global Private Nursing Services Market from six perspectives: Component, Technology, Functionality, Application, End User, and Region.

Demographic Segmentation:

Age: Targeting different age groups, such as pediatric nursing for children or geriatric nursing for elderly patients.
Gender: Some nursing services may cater specifically to male or female patients.
Income: Offering premium services to high-income individuals and more affordable options for those with lower incomes.

Geographic Segmentation:

Location: Focusing on specific regions or cities where there is a higher demand for private nursing services.
Urban vs. Rural: Considering the unique needs of urban and rural populations.

Psychographic Segmentation:

Lifestyle: Tailoring services for individuals with specific lifestyles, such as busy professionals or individuals with disabilities.
Values and Beliefs: Offering culturally sensitive nursing care that aligns with the values and beliefs of different communities.

Behavioral Segmentation:

Usage Rate: Distinguishing between frequent users of private nursing services and occasional users.
Occasion-Based: Targeting patients who require nursing services for specific occasions, like post-surgery recovery or childbirth.

Health Condition-Based Segmentation:

Chronic Illness: Specializing in nursing care for patients with chronic conditions like diabetes, heart disease, or cancer.
Acute Care: Providing services for short-term illnesses, injuries, or post-operative care.

Service Type Segmentation:

In-Home Nursing: Focusing on nursing services provided in the patient's home.
Hospice Care: Offering end-of-life care and support to patients and their families.
Pediatric Nursing: Specializing in care for children.
Elderly Care: Catering to the needs of the elderly population.

Technology Adoption:

Tech-Savvy vs. Traditional: Customizing services based on the patient's comfort and proficiency with technology, such as telehealth options.

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Regional Growth Dynamics:

The North American region held the major market share in 2021, holding nearly two-fifths of the global private nursing services market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific region is expected to cite the fastest CAGR of 8.22% during the forecast period. The report also analyses other regions such as Europe and LAMEA.

Competitive Landscape:

The key players analyzed in the global private nursing services market report include The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis HealthCare, Brookdale Senior Living Inc., Kaiser Foundation Health Plan, Inc., CBI Health., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care.

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Key Points Covered by the Report-

What are the fundamental skills, core competencies, and key players in the industry we are examining?
What are the opportunities for marketing strategies that are developing at a usual rate?
What are the main competitive factors influencing the industry?
What marketing tactics are suitable for a particular service or product?
What geographical areas are covered by the Private Nursing Services Market report?
What share of this market would each of the following regions hold during the forecast period: Asia-Pacific, Europe, North America, and LAMEA?
How has COVID-19 impacted the Private Nursing Services Market?

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