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Home Health Care And Residential Nursing Care Services Market Drivers, Demand, Insights 2024-2033: Unveiling Key Factors
Health Care And Residential Nursing Care Services Market
The Business Research Company offers in-depth market insights through Home Health Care And Residential Nursing Care Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The home health care and residential nursing care services market size has grown strongly in recent years. It will grow from $1210.77 billion in 2023 to $1288.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to demographic shifts, government healthcare policies, preference for in-home care, caregiver shortages, chronic disease prevalence.
The home health care and residential nursing care services market size is expected to see steady growth in the next few years. It will grow to $1516.79 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to cost-effective alternatives, aging population dynamics, telehealth integration, value-based care models, covid-19 pandemic impact, collaboration with payers and providers. Major trends in the forecast period include technological innovations, technology integration, focus on preventive care, workforce challenges and training, personalized and patient-centered care, value-based care models.
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Market Segmentation:
The home health care and residential nursing care services market covered in this report is segmented -
1) By Type: Home Health Care Providers, Retirement Communities, Nursing Care Facilities, Orphanages & Group Homes
2) By Type of Expenditure: Public, Private
3) By End User Gender: Male, Female
Subsegments Covered: Home Health Care Agencies, Visiting Nurses, In-Home Hospice Care Services, Assisted Living Facilities Without On-Site Nursing Care, Assisted Living Facilities For The Elderly Without Nursing Care, Continuing Care Retirement Communities, Rest Homes Without Nursing Care
Major Driver - Improved Healthcare Access In Developing Countries To Drive Market Growth
Access to health care services is expected to improve in developing countries, driving the nursing care market in those geographies. Effective implementation of health plans is the core reason for the improvement in healthcare access in many developing countries such as India, China and Latin American countries. Some country-specific health reforms which were set to improve healthcare access include China's Urban Resident Basic Medical Insurance and New Rural Cooperative Medical Insurance schemes, Brazil's Unified Health System and Mexico's Popular Health Insurance. Improvement in healthcare access is expected to have a positive impact on the growth of the nursing care market.
Competitive Landscape:
Major companies operating in the home health care and residential nursing care services market report are Assisted Living Inc., UnitedHealth Group Incorporated, Kaiser Permanente, Kindred Healthcare, Orpea, Encompass Home Health, Option Care Health Inc. - Registered Shares, Elara Caring, Genesis Healthcare Corp., The Ensign Group Inc., Brookdale Senior Living, AdaptHealth Corp, LHC Group Inc, Chemed Corp., Sunrise Senior Living, The LHC Group Company, Amedisys Inc., BrightStar Care, Aveanna Healthcare Holdings Inc, Gentiva Health Services, Apria Inc, Enhabit Inc, Addus HomeCare Corporation, Extendicare, Signify Health Inc., Atria Senior Living Group, Natur International Corp, Rotech Healthcare Holdings Inc, Emeritus Corporation, eWellness Healthcare Corporation, Senior Care Centers of America, Home Instead Senior Care
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Top Trend - The Integration Of Big Data Technology In The Nursing Care Industry
The nursing care industry is adopting big data technologies to monitor patients' health and offer appropriate care. Big data is large amounts of data that can be analyzed to gain insights and drive decision-making. Big data allows the nursing care providers to access to a significant amount of data that can be used to aid health care professionals to identify future health risks and suggest suitable remedies. Home care providers can also use this data to identify the irregularities in the treatment of patients and improve the effectiveness of the treatment. For example, MJHS, a leading home care, palliative, and hospice provider in the US has adopted eCaring, a big data technology solution, to monitor a patient's health every hour and track individual patient behaviors and health outcomes.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Home Health Care And Residential Nursing Care Services Market Characteristics
3. Home Health Care And Residential Nursing Care Services Market Trends And Strategies
4. Home Health Care And Residential Nursing Care Services Market - Macro Economic Scenario
5. Home Health Care And Residential Nursing Care Services Market Size And Growth
…..
27. Home Health Care And Residential Nursing Care Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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