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U.S. Long Term Care Market - Expected to Reach $549.7 Billion by 2024
Thursday, December 07, 2017

DUBLIN, Dec. 7, 2017 /PRNewswire/ --

The "U.S. Long Term Care Market Analysis by Service (Home Healthcare, Hospices, Nursing Care, Assisted Living Facilities), Competitive Landscape and Segment Forecasts, 2013 - 2024" report has been added to Research and Markets' offering.

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The U.S. long term care (LTC) market is expected to reach USD 549.7 billion by 2024, based on this new report. Rising incidence of chronic disorders in the U.S. due to aging population and unhealthy lifestyle is likely to increase the burden on LTC settings over the coming years. Rising prevalence of dementia, Alzheimer's, heart disorders, respiratory diseases, and mental disorders has contributed to the growth of the LTC market.

According to Vincent & Velkoff, 2010, the number of Americans above 65 years is likely to increase to more than double from 40.2 million in 2010 to 88.5 million in 2050. The cohort aged 85 and above (oldest old) is expected to triple, from 6.3 million in 2015 to 17.9 million in 2050, accounting for 4.5% of the total population. This demographic tends to have the highest disability rate & has maximum need for long-term care services and is likely to propel the market growth.

Technological developments in the long-term care industry are responsible for expanding the market in the U.S. In order to enhance the quality of life, LTC facilities, such as hospices, have started installing wireless video-conferencing devices. These devices enable patients to access the internet from their rooms and facilitate easy communication with their friends & family members. These computer-based technologies have helped enhance communication between hospice nurses & caregivers and enabled them to make decisions and provide real-time solutions or coaching tips.

Further Key Findings From The Study Suggest:

    --  Nursing care dominated the market in terms of revenue in 2016. This was
        attributed to presence of large number of facilities, high cost for
        services, and availability of reimbursement for nursing care.
    --  Other LTC segments are projected to gain share during the forecast
        period due to pay cuts for Skilled Nursing Facilities (SNFs) and
        availability of other affordable long-term care services
    --  LTC market has been experiencing mergers & acquisitions, which is
        resulting in integration of various services, thus maximizing revenue
    --  In March 2017, Senior Care, Inc. commenced operations of three adult day
        centers that were initially managed by Hamilton County Board of
        Developmental Disabilities and acquired three other centers from Addus
        HomeCare Corporation in Illinois. Furthermore, the company launched a
        new center in Fairfield to fulfill LTC demand in April 2016.

Companies Mentioned

    --  Brookdale Senior Living Solutions
    --  Sunrise Senior Living, LLC
    --  Atria Senior Living, Inc.
    --  Extendicare
    --  Kindred Healthcare, Inc.
    --  Active Day/Senior Care, Inc.
    --  Genesis HealthCare
    --  Home Instead, Inc.
    --  Five Star Senior Living
    --  Life Care Services

Key Topics Covered:

Chapter 1 Research Methodology

Chapter 2 Executive Summary

Chapter 3 Market Snapshot

Chapter 4 U.S. Long-Term Care Market Variables, Trends & Scope

Chapter 5 U.S. Long-Term Care Market: Service Estimates & Trend Analysis

Chapter 6 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/l8mjtb/u_s_long_term

Media Contact:

Laura Wood, Senior Manager
press@researchandmarkets.com

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View original content:http://www.prnewswire.com/news-releases/us-long-term-care-market---expected-to-reach-5497-billion-by-2024-300568337.html

SOURCE Research and Markets



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