Dublin, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The "U.S. Nursing Care Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. nursing care market was valued at USD 475.15 billion in 2023 and is expected to reach a value of $692.19 billion by 2029, growing at a CAGR of 6.47% from 2023 to 2029
In the U.S. nursing care market, the major market share is accounted for by the key market players. Due to their high geographical presence, availability of expertise, and well-known brand image of the companies, they do have a better market share in the U.S. The number of mergers and acquisitions is high in the market. In addition, the vendors are producing better innovative plans like luxury accommodations, customized living facilities, and more to attract customers.
The demand for the nursing care market is rising due to multiple factors, including the rising baby boomers, the aging population, increased healthcare expenditures, and an increased preference for independent living.
The occupancy rate for nursing care in the U.S. is rising steadily. Diabetes, increased age, obesity, and other chronic diseases are the key factors that contribute to the rising demand in the U.S. For instance, in 2018, approximately 52 million people aged 65 and above are projected to become about 95 billion by 2060 in the U.S.
By Service type, the skilled nursing segment is showing exponential growth. The growth in this segment is due to the rise in the geriatric population, coupled with increasing chronic diseases and age-associated diseases creating new healthcare opportunities. It is observed that when compared to hospitals, skilled nursing facilities (SNFs) offer high-quality care services at a much lower cost, creating enormous demand among investors.
The public expenditure segment is experiencing significant growth at a CAGR of 6.71%, attributed to rising government support via Medicare services. Long-Term Care Partnership Programs at the state level can safeguard the assets of individuals utilizing Medicaid for long-term care expenses.
The female segment dominated the nursing care market, growing with an absolute growth of 47.81% during the forecast period. Women constitute a majority in assisted living communities due to longer lifespans. The rising aging female population, prevalence of chronic conditions, and proactive healthcare-seeking contribute to women's preference for assisted living.
The South region of the U.S. accounted for the highest market growth for nursing care. The cost of living is reasonably low compared to other regions, and it is considered a moderately taxed region, making it even more opportunistic for seniors to retire.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $475.15 Billion |
| Forecasted Market Value (USD) by 2029 | $692.19 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | United States |
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Nursing Care Market
- Key Vendors
- Other Prominent Vendors
U.S. NURSING CARE MARKET VENDORS LIST
- Fair Acres
- RiverSpring Living
- The Plaza Rehab & Nursing Center
- NYC Health + Hospitals
- Laguna Honda
- Kings Harbor Multicare Center
- Brookdale Senior Living
- ProMedica Senior Care
- Consulate Health Care
- Ensign Group
- Genesis Healthcare
- Life Care Centers of America
- Humana
- Enlivant
- Bayada Home Health Center
- National Church Residencies
- Sunrise Senior Living
- Sonida Senior Living
- Five Star Senior Living
- BrightSpring Health Services
- Fresenius Medical Care
- Amedisys
- Eddy Senior Living
- Embassy Healthcare Services
- Erickson Senior Living
- Frontier Senior Living
- Gardant Management Solutions
- Bickford Senior Living
- VNS Health
- Valeo
- Pacifica Senior Living
- Life Care Services
- MBK Senior Living
- Hanceville Nursing and Rehab Center
- Park Avenue Health & Rehabilitation Center
- Ararat Home of Los Angeles
- Colorado State Veterans Home
- A.G. Rhodes
PRODUCT SEGMENTATION & FORECAST
By Service Type
- Skilled Nursing
- Home Healthcare
- Assisted Living
- Others
By Payment
- Public Expenditure
- Private Expenditure
By Gender
- Female
- Male
By Geography
- South
- Mid-West
- North-East
- West
For more information about this report visit https://www.researchandmarkets.com/r/ff6kzt
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