Report ID: SQMIG35D2066
Long-Term Care Market Size, Share, Growth Analysis, By Service type(Home healthcare services, facility-based services, community-based services, and others), By Gender(Male, female), By Payer(Public, private, and out of pocket), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35D2066 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
90 |
Figures:
76
Long-Term Care Market Regional Insights
North America dominated the global long-term care market in 2022 and is predicted to continue to do so during the forecast period due to the presence of long-term care centers, an enhancing reimbursement framework, and favorable government policies. The U.S. long term care market will be worth approximately USD 701 billion by the end of 2028. This remarkable expansion can be attributed to a number of factors, including a large target population, high healthcare and long-term care spending, and an increase in the incidence of chronic diseases across the country. According to the American Action Forum, by 2030, roughly 24 million Americans are anticipated to require LTC, representing a two-fold increase over current demand. With an increasing number of chronic conditions, the amount and complexity of care for each individual is also expected to rise. Furthermore, projections indicate that by 2030, LTC costs will have more than doubled and it may reach USD 2.5 trillion.
During the forecast period, Asia-Pacific is expected to increase substantially. This is due to an increase in chronic illnesses like heart disease, diabetes, and respiratory problems. The long-term care industry is still in its early stages in this region.
Long-Term Care Market Report Snapshots
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