Global Nursing Care Market, By Service Type (Home Health Care Providers, Nursing Care Facilities, Group Care Homes, Retirement Communities), End User Gender (Female Nursing Care, Male Nursing Care), Type of Expenditure (Public Expenditure, Private Expenditure) – Industry Trends and Forecast to 2029.
Nursing Care Market Analysis and Size
Nursing care is an essential type of care for overall patient wellness. They are on the front lines of patient care, assessing and diagnosing them frequently before a doctor is available. Nurses help patients stay comfortable. The growing number of hospitals and personalized care will create several opportunities that will lead to the growth of the nursing care market.
Data Bridge Market Research analyses that the nursing care market which was USD 1,137 million in 2021, is expected to reach USD 1744.94 million by 2029, at a CAGR of 5.5% during the forecast period 2022 to 2029. 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 Care Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Service Type (Home Health Care Providers, Nursing Care Facilities, Group Care Homes, Retirement Communities), End User Gender (Female Nursing Care, Male Nursing Care), Type of Expenditure (Public Expenditure, Private Expenditure)
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Market Players Covered
|
Genesis HealthCare (U.S.), Kaiser Foundation Health Plan, Inc. (U.S.), Brookdale Senior Living Inc. (U.S.), Knight Health Holdings, LLC (U.S.), The Ensign Group, Inc. (U.S.), Memorial Sloan Kettering Cancer Center (U.S.), ParaMed (Canada), Bayshore HealthCare (Canada), CBI Health (Canada), EXTENDICARE (Canada), Trinity Health (U.S.), Basin Home Health & Hospice, Inc. (U.S.), 3 C Costa Blanca Care Agency (Spain), Manorcourt Care (Norfolk) Ltd. (U.K.), Able Community Care (U.K.), Care UK (U.K.), and Helping Hands Home Care (U.K.)
|
|
Market Opportunities
|
|
Market Definition
Nursing care is the collaborative and autonomous care provided by skilled individuals or nurses to individuals of all ages, groups, communities, and families. Nurses are trained professionals who promote health and disease prevention. Nurses help patients cope with illness and assist patients with medical procedures. Nurses are in charge of assessing patients and administering medications and treatments. Nursing care plans are also developed and managed by nurses. Nursing care includes disease prevention and treatment. Nursing care encompasses approaches to personalized care that provide greater safety, convenience, and comfort.
Global Nursing Care Market Dynamics
Drivers
- Increasing in elderly population
According to World Population Prospects 2020, there will be 703 million people over the age of 65 in the world in 2020. The number of elderly people is expected to more than double by 2050, reaching 1.5 billion. The global proportion of the elderly population is expected to rise from 6% in 1990 to 9% in 2020 and 16% by 2050, with one in every six people worldwide over the age of 65. That's it. People over the age of 65 are expected to use more long-term care services in the future. There was also a shift away from hospitals and toward home care.
- Increasing incidence of dementia
The hospital services are 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
- Rise in severe health disorders
The rise in serious health issues among the elderly population is driving market growth. The prevalence of chronic diseases is rapidly increasing. Chronic diseases afflicting the geriatric population include heart disease, cancer, diabetes, Alzheimer's disease, and anxiety. Hospitalization for these chronic conditions can be costly and time-consuming. As a result, the market is creating more opportunities for growth in this regard.
Restraints/Challenges
- High cost
The lack of nursing care reimbursements and the high cost of healthcare will act as restraints and may hamper the growth of the nursing care market during the forecast period. However, the lack of a proper healthcare system in rural areas and the availability of a limited number of trained nurses will pose challenges to the growth of the nursing care market.
This nursing care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, 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 nursing care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Nursing Care Market
In the current situation, COVID-19 has caused an unprecedented public health crisis that has affected virtually every business. Its long-term consequences are expected to have an impact on industry growth during the forecast period. During the pandemic, home health care emerged as a cost-effective alternative in the post-pandemic era. As a result, demand for nursing care is expected to rise during the forecast period. Demand for nursing care is expected to rise following the pandemic as more families and patients avoid hospitalization to avoid the risk of infection. Furthermore, the market growth in the coming years increased by increasing vaccination campaigns and raising awareness of long-term care as an alternative to cost-cutting measures.
Recent developments
- In December 2020, Sun Healthcare Group Inc. has been acquired by Genesis HealthCare. In the United States, the latter operates skilled nursing facilities, assisted and independent living centres, and behavioral health centres in 23 states.
- In June 2020, Kindred Healthcare, LLC is expanding its long-term acute care hospitals with acute inpatient rehabilitation units (ARUs). The new ARUs will offer intensive, multidisciplinary clinical and rehabilitation services and 24-hour nursing care.
Global Nursing Care Market Scope
The nursing care market is segmented on the basis of service type, end user and type of expenditure. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Service Type
- Home Health Care Providers
- Nursing Care Facilities
- Group Care Homes
- Retirement Communities
End User
- Gender
- Female Nursing Care
- Male Nursing Care
Type of Expenditure
- Public Expenditure
- Private Expenditure
Nursing Care Market Regional Analysis/Insights
The nursing care market is analyzed and market size insights and trends are provided by country, service type, end user and type of expenditure as referenced above.
The countries covered in the nursing care market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the nursing care market due to the region's high healthcare expenditures and growing prevalence of diseases.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the rising geriatric population and growing number of hospitals.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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 nursing care 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 nursing care market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the nursing care market. The data is available for historic period 2010-2020.
Competitive Landscape and Nursing Care Market Share Analysis
The nursing care 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 nursing care market.
Some of the major players operating in the nursing care market are:
- Newport Corporation (U.S.)
- Coherent, Inc. (U.S.)
- Molex LLC (U.S.)
- Integra lifesciences (U.S.)
- Fiberoptics Technology Incorporated (U.S.)
- Timbercon, Inc. (U.S.)
- Sunoptic Surgical (U.S.)
- Coherent, Inc. (U.S.)
- Vitalcor Inc (U.S.)
- Trumpf (Germany)
- Boston Scientific Corporation (U.S.)
- IPG Photonics Corporation (U.S.)
- Olympus America (U.S.)
- Biolitec AG (Germany)
SKU-