Long Term Care Market Analysis by Service (Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities) and Segment Forecasts to 2024
The global Long Term Care (LTC) market is expected to reach USD 1,109 billion by 2024, according to a new report by Grand View Research, Inc. The market is expected to boom owing to the increasing awareness of people about the different home healthcare facilities, the increasing medical coverage for home healthcare, and the increasing aging population.
In October 2015, there were around 12 million people receiving home healthcare and the number is expected to increase dramatically. Moreover, according to the U.S. Census Bureau, the population aged 65 and older is expected to reach 84 million by 2050 as against 43.1 million in 2012. Moreover, there has been a shift to in-home care from long term care. The nursing homes have shrunk by 350 over the past six years, while the in-home nursing programs have doubled.
Further key findings from the study suggest:
In 2015, the home healthcare dominated the market owing to the increasing awareness regarding home healthcare facilities, the cost savings offered by them as compared to hospital stays or nursing homes, and proactive health monitoring. Home healthcare is booming in the developing countries owing to the increasing need for geriatric care, double income households, and social changes. India has many home healthcare startups such as Health Care at Home, Zoctr, Vatsalya, Care24, Zozz, Life Circle Health Services, Healers at Home, and the Nightingales.
The hospice care is the fastest growing market owing to the increasing incidence rates of Alzheimer’s and dementia and an increase in the post-hospital care. Moreover, the coverage offered by both the Medicaid and private insurers has relieved the residents from the out-of-pocket payments that have to be borne by them. According to the Hospice Association of America, Medicaid pays USD 601 per day for the inpatient hospice care and USD 789 for 24-hour home care. Moreover, in August 2013, the Palliative Care and Hospice Education and Training Act provided a grant of USD 50 million for the training of doctors and allocating awards for educators in the field.
North America dominated the market in 2015. The market for long term care services is majorly driven by the increasing aging population, awareness about the advantages of home healthcare services, and the government support. Around 13% of the people in the U.S. are 65 years or above. By 2050, it is expected that one in five Americans would be at least 65 years of age.
Asia Pacific is the fastest growing market owing to the increasing rates of chronic diseases, the increasing disposable incomes, and decreasing working population. For instance, in China, the one-child policy has eventually decreased the working population as compared to the older population. In May 2016, MyCareLine raised USD 526,000 for its alliance with Hoffman World. The Spanish Company provides Hoffman methodology of rehabilitation. The method is commercial in Latin America and Europe. In India, Portea is one of the market leaders in the home healthcare industry. In September 2015, Portea raised USD 37.5 million for investing in better home healthcare facilities.
Industry players are continuously investing on expanding and revamping their existing facilities. For instance, in February 2016, Sunrise Senior Living, Inc. started a new facility joining its existing 41 Sunrise communities. The new facility will offer memory care programming, assisted living services, and support to residents in the early stage of memory loss.
Major market players are Brookdale Senior Living, Inc., Sunrise Senior Living, Inc., Emeritus Corporation, Atria Senior Living Group, Extendicare, Inc., Gentiva Health Services, Inc., Senior Care Centers of America, Kindred Healthcare, Inc., Genesis Healthcare Corp., and Home Instead Senior Care, Inc.
In October 2015, there were around 12 million people receiving home healthcare and the number is expected to increase dramatically. Moreover, according to the U.S. Census Bureau, the population aged 65 and older is expected to reach 84 million by 2050 as against 43.1 million in 2012. Moreover, there has been a shift to in-home care from long term care. The nursing homes have shrunk by 350 over the past six years, while the in-home nursing programs have doubled.
Further key findings from the study suggest:
In 2015, the home healthcare dominated the market owing to the increasing awareness regarding home healthcare facilities, the cost savings offered by them as compared to hospital stays or nursing homes, and proactive health monitoring. Home healthcare is booming in the developing countries owing to the increasing need for geriatric care, double income households, and social changes. India has many home healthcare startups such as Health Care at Home, Zoctr, Vatsalya, Care24, Zozz, Life Circle Health Services, Healers at Home, and the Nightingales.
The hospice care is the fastest growing market owing to the increasing incidence rates of Alzheimer’s and dementia and an increase in the post-hospital care. Moreover, the coverage offered by both the Medicaid and private insurers has relieved the residents from the out-of-pocket payments that have to be borne by them. According to the Hospice Association of America, Medicaid pays USD 601 per day for the inpatient hospice care and USD 789 for 24-hour home care. Moreover, in August 2013, the Palliative Care and Hospice Education and Training Act provided a grant of USD 50 million for the training of doctors and allocating awards for educators in the field.
North America dominated the market in 2015. The market for long term care services is majorly driven by the increasing aging population, awareness about the advantages of home healthcare services, and the government support. Around 13% of the people in the U.S. are 65 years or above. By 2050, it is expected that one in five Americans would be at least 65 years of age.
Asia Pacific is the fastest growing market owing to the increasing rates of chronic diseases, the increasing disposable incomes, and decreasing working population. For instance, in China, the one-child policy has eventually decreased the working population as compared to the older population. In May 2016, MyCareLine raised USD 526,000 for its alliance with Hoffman World. The Spanish Company provides Hoffman methodology of rehabilitation. The method is commercial in Latin America and Europe. In India, Portea is one of the market leaders in the home healthcare industry. In September 2015, Portea raised USD 37.5 million for investing in better home healthcare facilities.
Industry players are continuously investing on expanding and revamping their existing facilities. For instance, in February 2016, Sunrise Senior Living, Inc. started a new facility joining its existing 41 Sunrise communities. The new facility will offer memory care programming, assisted living services, and support to residents in the early stage of memory loss.
Major market players are Brookdale Senior Living, Inc., Sunrise Senior Living, Inc., Emeritus Corporation, Atria Senior Living Group, Extendicare, Inc., Gentiva Health Services, Inc., Senior Care Centers of America, Kindred Healthcare, Inc., Genesis Healthcare Corp., and Home Instead Senior Care, Inc.
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Research methodology
1.2. Research scope & assumption
1.3. List of data sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Long Term Care (LTC)- Industry Summary and Key Buying Criteria, 2013 - 2024
CHAPTER 3. LONG TERM CARE (LTC) INDUSTRY OUTLOOK
3.1. Long Term Care (LTC) Market Segmentation
3.2. Long Term Care (LTC) Market Size and Growth Prospect
3.3. Long Term Care (LTC) Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.4. Key Opportunities Prioritized
3.5. Industry Analysis - Porter's
3.6. Long Term Care (LTC) Market PESTEL Analysis, 2015
CHAPTER 4. LONG TERM CARE (LTC) SERVICE OUTLOOK
4.1. Long Term Care (LTC) Market Share by Service, 2015 & 2024
4.2. Home Healthcare Market Estimates, 2013 - 2015 (USD Million)
4.3. Hospice Market Forecasts, 2016 - 2024 (USD Million)
4.4. Nursing Care Market Estimates, 2013 - 2015 (USD Million)
4.5. Assisted Living FacilitiesMarket Forecasts, 2016 - 2024(USD Million)
CHAPTER 5. LONG TERM CARE (LTC)REGIONAL OUTLOOK
5.1. North America
5.1.1. North America Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.1.2. North America Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.1.2.1. U.S.Long Term Care (LTC) Market Estimates And Forecasts
5.1.2.2. Canada Long Term Care (LTC) Market Estimates And Forecasts
5.2. Europe
5.2.1. Europe Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.2.2. Europe Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.2.2.1. UK Market Estimates And Forecasts
5.2.2.2. France Market Estimates And Forecasts
5.2.2.3. Germany Market Estimates And Forecasts
5.3. Asia Pacific
5.3.1. Asia Pacific Long Term Care (LTC) Market Estimates, by Service, 2013 - 2015 (USD Million)
5.3.2. Asia Pacific Long Term Care (LTC) Market Forecasts, by Service, 2016 - 2024 (USD Million)
5.3.2.1. India Market Estimates And Forecasts
5.3.2.2. China Market Estimates And Forecasts
5.3.2.3. Japan Market Estimates And Forecasts
5.4. Latin America
5.4.1. Latin America Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.4.2. Latin America Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.4.2.1. Mexico market estimates and forecasts
5.4.2.2. Brazil market estimates and forecasts
5.5. MEA
5.5.1. MEA Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.5.2. MEA Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.5.2.1. South Africa Market Estimates And Forecasts
CHAPTER 6. COMPETITIVE LANDSCAPE
6.1. Brookdale Senior Living, Inc.
6.1.1. Company Overview
6.1.2. Financial Performance
6.1.3. Product Benchmarking
6.1.4. Strategic Initiatives
6.2. Sunrise Senior Living, Inc.
6.2.1. Company Overview
6.2.2. Financial Performance
6.2.3. Product Benchmarking
6.2.4. Strategic Initiatives
6.3. Emeritus Corporation
6.3.1. Company Overview
6.3.2. Financial Performance
6.3.3. Product Benchmarking
6.3.4. Strategic Initiatives
6.4. Atria Senior Living Group
6.4.1. Company Overview
6.4.2. Financial Performance
6.4.3. Product Benchmarking
6.4.4. Strategic Initiatives
6.5. Extendicare, Inc.
6.5.1. Company Overview
6.5.2. Financial Performance
6.5.3. Product Benchmarking
6.5.4. Strategic Initiatives
6.6. Gentiva Health Services, Inc.
6.6.1. Company Overview
6.6.2. Financial Performance
6.6.3. Product Benchmarking
6.6.4. Strategic Initiatives
6.7. Senior Care Centers of America
6.7.1. Company Overview
6.7.2. Financial Performance
6.7.3. Product Benchmarking
6.7.4. Strategic Initiatives
6.8. Kindred Healthcare, Inc.
6.8.1. Company Overview
6.8.2. Financial Performance
6.8.3. Product Benchmarking
6.8.4. Strategic Initiatives
6.9. Genesis Healthcare Corp.
6.9.1. Company Overview
6.9.2. Financial Performance
6.9.3. Product Benchmarking
6.9.4. Strategic Initiatives
6.10. Home Instead Senior Care, Inc.
6.10.1. Company Overview
6.10.2. Financial Performance
6.10.3. Product Benchmarking
6.10.4. Strategic Initiatives
1.1. Research methodology
1.2. Research scope & assumption
1.3. List of data sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Long Term Care (LTC)- Industry Summary and Key Buying Criteria, 2013 - 2024
CHAPTER 3. LONG TERM CARE (LTC) INDUSTRY OUTLOOK
3.1. Long Term Care (LTC) Market Segmentation
3.2. Long Term Care (LTC) Market Size and Growth Prospect
3.3. Long Term Care (LTC) Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.4. Key Opportunities Prioritized
3.5. Industry Analysis - Porter's
3.6. Long Term Care (LTC) Market PESTEL Analysis, 2015
CHAPTER 4. LONG TERM CARE (LTC) SERVICE OUTLOOK
4.1. Long Term Care (LTC) Market Share by Service, 2015 & 2024
4.2. Home Healthcare Market Estimates, 2013 - 2015 (USD Million)
4.3. Hospice Market Forecasts, 2016 - 2024 (USD Million)
4.4. Nursing Care Market Estimates, 2013 - 2015 (USD Million)
4.5. Assisted Living FacilitiesMarket Forecasts, 2016 - 2024(USD Million)
CHAPTER 5. LONG TERM CARE (LTC)REGIONAL OUTLOOK
5.1. North America
5.1.1. North America Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.1.2. North America Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.1.2.1. U.S.Long Term Care (LTC) Market Estimates And Forecasts
5.1.2.2. Canada Long Term Care (LTC) Market Estimates And Forecasts
5.2. Europe
5.2.1. Europe Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.2.2. Europe Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.2.2.1. UK Market Estimates And Forecasts
5.2.2.2. France Market Estimates And Forecasts
5.2.2.3. Germany Market Estimates And Forecasts
5.3. Asia Pacific
5.3.1. Asia Pacific Long Term Care (LTC) Market Estimates, by Service, 2013 - 2015 (USD Million)
5.3.2. Asia Pacific Long Term Care (LTC) Market Forecasts, by Service, 2016 - 2024 (USD Million)
5.3.2.1. India Market Estimates And Forecasts
5.3.2.2. China Market Estimates And Forecasts
5.3.2.3. Japan Market Estimates And Forecasts
5.4. Latin America
5.4.1. Latin America Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.4.2. Latin America Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.4.2.1. Mexico market estimates and forecasts
5.4.2.2. Brazil market estimates and forecasts
5.5. MEA
5.5.1. MEA Long Term Care (LTC) Market Estimates, By Service, 2013 - 2015 (USD Million)
5.5.2. MEA Long Term Care (LTC) Market Forecasts, By Service, 2016 - 2024 (USD Million)
5.5.2.1. South Africa Market Estimates And Forecasts
CHAPTER 6. COMPETITIVE LANDSCAPE
6.1. Brookdale Senior Living, Inc.
6.1.1. Company Overview
6.1.2. Financial Performance
6.1.3. Product Benchmarking
6.1.4. Strategic Initiatives
6.2. Sunrise Senior Living, Inc.
6.2.1. Company Overview
6.2.2. Financial Performance
6.2.3. Product Benchmarking
6.2.4. Strategic Initiatives
6.3. Emeritus Corporation
6.3.1. Company Overview
6.3.2. Financial Performance
6.3.3. Product Benchmarking
6.3.4. Strategic Initiatives
6.4. Atria Senior Living Group
6.4.1. Company Overview
6.4.2. Financial Performance
6.4.3. Product Benchmarking
6.4.4. Strategic Initiatives
6.5. Extendicare, Inc.
6.5.1. Company Overview
6.5.2. Financial Performance
6.5.3. Product Benchmarking
6.5.4. Strategic Initiatives
6.6. Gentiva Health Services, Inc.
6.6.1. Company Overview
6.6.2. Financial Performance
6.6.3. Product Benchmarking
6.6.4. Strategic Initiatives
6.7. Senior Care Centers of America
6.7.1. Company Overview
6.7.2. Financial Performance
6.7.3. Product Benchmarking
6.7.4. Strategic Initiatives
6.8. Kindred Healthcare, Inc.
6.8.1. Company Overview
6.8.2. Financial Performance
6.8.3. Product Benchmarking
6.8.4. Strategic Initiatives
6.9. Genesis Healthcare Corp.
6.9.1. Company Overview
6.9.2. Financial Performance
6.9.3. Product Benchmarking
6.9.4. Strategic Initiatives
6.10. Home Instead Senior Care, Inc.
6.10.1. Company Overview
6.10.2. Financial Performance
6.10.3. Product Benchmarking
6.10.4. Strategic Initiatives
LIST OF TABLES
1. Long Term Care (LTC) - Industry Snapshot
2. Long Term Care (LTC) Market Estimates, by Service, 2013 - 2024 (USD Million)
3. Long Term Care (LTC) Market Forecasts, by Service, 2016 - 2024 (USD Million)
4. Long Term Care (LTC) Market Estimates, by Region, 2013 - 2024 (USD Million)
5. Long Term Care (LTC) Market Forecasts, by Region, 2016 - 2024 (USD Million)
6. Long Term Care (LTC) Market - Key Market Drivers Analysis
7. Long Term Care (LTC) Market - Key Market Restraints Analysis
8. Europe Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
9. Europe Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
10. Europe Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
11. Europe Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
12. UK Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
13. UK Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
14. Germany Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
15. Germany Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
16. France Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
17. France Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
18. Asia Pacific Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
19. Asia Pacific Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
20. Asia Pacific Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
21. Asia Pacific Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
22. Japan Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
23. Japan Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
24. India Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
25. India Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
26. China Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
27. China Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
28. Latin America Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
29. Latin America Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
30. Latin America Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
31. Latin America Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
32. Brazil Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
33. Brazil Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
34. Mexico Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
35. Mexico Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
36. MEA Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
37. MEA Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
38. MEA Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
39. MEA Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
40. South Africa Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
41. South Africa Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
1. Long Term Care (LTC) - Industry Snapshot
2. Long Term Care (LTC) Market Estimates, by Service, 2013 - 2024 (USD Million)
3. Long Term Care (LTC) Market Forecasts, by Service, 2016 - 2024 (USD Million)
4. Long Term Care (LTC) Market Estimates, by Region, 2013 - 2024 (USD Million)
5. Long Term Care (LTC) Market Forecasts, by Region, 2016 - 2024 (USD Million)
6. Long Term Care (LTC) Market - Key Market Drivers Analysis
7. Long Term Care (LTC) Market - Key Market Restraints Analysis
8. Europe Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
9. Europe Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
10. Europe Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
11. Europe Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
12. UK Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
13. UK Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
14. Germany Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
15. Germany Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
16. France Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
17. France Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
18. Asia Pacific Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
19. Asia Pacific Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
20. Asia Pacific Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
21. Asia Pacific Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
22. Japan Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
23. Japan Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
24. India Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
25. India Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
26. China Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
27. China Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
28. Latin America Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
29. Latin America Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
30. Latin America Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
31. Latin America Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
32. Brazil Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
33. Brazil Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
34. Mexico Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
35. Mexico Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
36. MEA Long Term Care (LTC) Market, Estimates, by Region, 2013 - 2024 (USD Million)
37. MEA Long Term Care (LTC) Market, Forecast, by Region, 2016 - 2024 (USD Million)
38. MEA Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
39. MEA Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
40. South Africa Long Term Care (LTC) Market, Estimates, by Service, 2013 - 2024 (USD Million)
41. South Africa Long Term Care (LTC) Market, Forecast, by Service, 2016 - 2024 (USD Million)
