Global Nursing Homes and Long-Term Care Facilities Market, By Product (EHR, eMAR, Payroll Management), Mode of Delivery (Web-Based, On-Premises, Cloud-Based) - Industry Trends and Forecast to 2030.
Nursing Homes and Long-Term Care Facilities Market Analysis and Size
The market of nursing homes and long-term care facilities is expected to witness significant growth during the forecast period 2023-2030. People aged 65 are expected to be more likely to use certain long-term care services in the future. There was also a shift from hospitals to home care. Long-term care is the support of the elderly who are unable to care for themselves due to physical or mental illnesses such as chronic or multiple illnesses. Many factors and aspects influence demand in nursing homes anthe d long-term care market. Individual health and functioning have had a major impact on determining the options they deem valuable.
Data Bridge Market Research analyses that the global nursing homes and long-term care facilities market which was USD 1,090.00 million in 2022, is expected to reach USD 2,171.89 million by 2030, and is expected to undergo a CAGR of 9.0% during the forecast period of 2023-2030. This indicates that the market value. "Web-based" dominates the mode of delivery segment of the global nursing homes and long-term care facilities market due to increasing awareness about nursing homes and long-term care facilities. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Nursing Homes and Long-Term Care Facilities Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Product (EHR, eMAR, Payroll Management), Mode of Delivery (Web-Based, On-Premises, Cloud-Based)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa
|
|
Market Players Covered
|
Allscripts Healthcare LLC (U.S.), Atria Senior Living, Inc.,LLC (U.S.), ADL Data Systems, Inc. (U.S.), Omnicell, Inc. (U.S.), Netsmart Technologies, Inc. (U.S.), ResMed (U.S.), McKesson Corporation (U.S.), PointClickCare (Canada), MatrixCare (U.S.), Extendicare (Canada), Genesis Healthcare (U.S.), Home Instead, Inc (U.S.), Knight Health Holdings, LLC (U.S.), Trinity Health (U.S.), Columbia Asia (Malaysia), among others.
|
|
Market Opportunities
|
|
Market Definition
Long-term care software is the type of technological service/solution that is used for meeting the non-clinical and clinical needs of patients and healthcare providers in home care, hospitals, nursing facilities, and several other healthcare-providing areas. These services provide better effectiveness and ease of operations in providing healthcare facilities, thereby reducing healthcare costs and achieving efficiency.
Nursing Homes and Long-Term Care Facilities Market Dynamics
Drivers
- Increasing Elderly Population
According to World Population Prospects 2020, the world population over the age of 65 was 703 million in 2020. The number of older people is expected to double by 2050 to reach 1.5 billion. The global proportion of the elderly population is projected to increase from 6% in 1990 to 9% in 2020 and further to 16% by 2050, with one in six people worldwide 65 years old. There was also a shift from hospitals to home care.
- Increasing Incidence of Dementia
The hospice services segment is expected to experience the fastest growth during the forecast period due to the increased incidence of Alzheimer's disease and dementia and increased post-hospital care. In addition, compensation provided by both Medicaid and private insurance companies freed residents from the out-of-pocket costs they had to pay.
Opportunities
- Government Initiatives
Governments in many developing and wealthy countries have enacted policies to extend older people's productive lifespan. The global long-term care market is benefiting greatly from now on. Nursing homes have been the focus of attention in recent years among those seeking counseling services and mental health.
-
Rise in Severe Health Disorders
The rise in serious health issues among the elderly population is boosting the growth of the market. The incidence of chronic diseases is rising at a significant pace. The geriatric population also suffers from chronic diseases such as heart problems, cancer, diabetes, Alzheimer’s, and anxiety. Hospitalization for these chronic conditions can be expensive and demands high use of resources. Thus, in this regard, the market is creating more opportunities for expansion.
Restraint/Challenge
- Lack of Skilled Professionals
The lack of qualified personnel who cannot take care of the nursing homes could curb the growth of the global nursing homes and long-term care facilities market over a forecast period.
This global nursing homes and long-term care facilities market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global nursing homes and long-term care facilities market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In July 2022, the Centres for Medicare & Medicaid Services launched its enhanced Nursing Home Five-Star Quality Rating System which integrates data nursing homes report on their weekend staffing rates for nurses and information on annual turnover among nurses and administrators
Global Nursing Homes and Long-Term Care Facilities Market Scope
The global nursing homes and long-term care facilities market is segmented on the basis of product, and mode of delivery. The growth amongst these segments will help your meagre growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.
Product
- EHR
- eMAR
- Payroll Management
Mode of Delivery
- Web-Based
- On-Premises
- Cloud-Based
Global Nursing Homes and Long-Term Care Facilities Market Regional Analysis/Insights
The global nursing homes and long-term care facilities market is analysed and market size insights and trends are provided by country, product, and mode of delivery as referenced above.
The countries covered in the global nursing homes and long-term care facilities market report is U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East & Africa
Asia-Pacific dominates the global nursing homes and long-term care facilities market due to increasing awareness, rapidly improving healthcare infrastructure, and massive investments being made by some major players in countries such as India and China in this region.
North America and Europe are the expected regions in terms of growth in nursing homes and long-term care facilities.
The country section of the report also provides individual market impacting factors and domestic regulation changes that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global nursing homes and long-term care facilities market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global nursing homes and long-term care facilities market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global nursing homes and long-term care facilities market. The data is available for historic period 2023-2030.
Competitive Landscape and Global Nursing Homes and Long-Term Care Facilities Market Share Analysis
The global nursing homes and long-term care facilities market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global nursing homes and long-term care facilities market.
Some of the major players operating in the global nursing homes and long-term care facilities market are:
- Allscripts Healthcare LLC (U.S.)
- Atria Senior Living, Inc., LLC (U.S.)
- ADL Data Systems, Inc. (U.S.)
- Omnicell, Inc. (U.S.)
- Netsmart Technologies, Inc. (U.S.)
- ResMed (U.S.)
- McKesson Corporation (U.S.)
- PointClickCare (Canada)
- MatrixCare (U.S.)
- Extendicare (Canada)
- Genesis Healthcare (U.S.)
- Home Instead, Inc (U.S.)
- Knight Health Holdings, LLC (U.S.)
- Trinity Health (U.S.)
- Columbia Asia (Malaysia)
SKU-