Long-Term Care Services Market by Service Type, by Payer and Geography: Analysis, Size, Growth, Trends, and Forecast, 2024-2028

Market Size

Increasing life expectancies and the growing elderly population have led to a rise in demand for comprehensive and specialized long-term care (LTC) services. There are unmet needs in the LTC sector, particularly in addressing chronic disease prevalence, including cancer, diabetes, Alzheimer's, dementia, and heart problems. Long-term care facilities provide healthcare and personal care services to individuals with chronic conditions, mental stress, and other healthcare needs. These facilities often require durable medical devices such as walkers, wheelchairs, and safety blankets to ensure the safety and well-being of residents. Internet-enabled home monitoring and telemedicine technologies are increasingly being adopted to enhance healthcare delivery and enable remote monitoring of patients.

Technavio’s in-depth industry report offers historical data as well as a comprehensive market forecast. It analyzes the current state of the long-term care services market and provides detailed predictions on its performance over the coming years. It examines key factors such as market drivers, challenges, and key emerging trends, as well as the global competitive landscape. Also included is a breakdown of the types of products available on the market, along with their market shares and future prospects.

Market Report Highlights

Service Type	Home Healthcare Hospice Nursing Care Others
Payer	Public Private Out-of-Pocket
Regional Landscape	North America Europe APAC South America Middle East and Africa
Key Companies Profiled	Amedisys Brookdale Senior Living, Inc. Diversicare Extendicare Genesis HealthCare Sonida Senior Living

Market Report Insights

• Precise evaluation of the market’s size, including historical data and a forecast of market performance from 2024 to 2028
• Qualitative and quantitative analysis of the current market scenario and future prospects, allowing clients to make informed business decisions
• In-depth analysis of the drivers and challenges that will impact the growth of the market between 2024 and 2028
• Predictions about upcoming trends and changes in consumer behavior
• A thorough industry analysis of the competitive landscape and detailed information on key companies in the market, including factors such as market positioning and product offerings
• Region-by-region analysis of market growth and opportunities across North America, Europe, APAC, South America, and the Middle East and Africa

Market Segmentation

The long-term care services market is segmented according to service type, payer, and region. Technavio’s industry report provides actionable market insights on each segment, including market share and growth forecasts. Nursing care is the largest market segment in terms of services, driven by aging populations and increasing healthcare expenditures in many parts of the world.

Service Type Segmentation

• Home Healthcare
• Hospice
• Nursing Care
• Others

Payer Segmentation

• Public
• Private
• Out-of-Pocket

Regional Analysis

Different parts of the world will have different demands, supply chain logistics, legal nuances, and other factors to take into consideration when entering a new market. Technavio’s long-term care services market research helps facilitate strategic business decisions by providing a historical and focused look at regional markets, including market trends, drivers, and challenges as well as predictions for regional market sizes and growth.

Geographical Segmentation:

• North America
  • Segmentation by service
  • Segmentation by payer
• Europe
  • Segmentation by service
  • Segmentation by payer
• APAC
  • Segmentation by service
  • Segmentation by payer
• South America
  • Segmentation by service
  • Segmentation by payer
• The Middle East and Africa
  • Segmentation by service
  • Segmentation by payer

Competitive Landscape

This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies in order to help clients improve their market positions. It also provides a detailed analysis of the upcoming long-term care services market trends and challenges and how they will influence market growth, designed to help companies create effective strategies to make the most of the global market.

Companies leading the global long-term care services market include:

• Amedisys
• Brookdale Senior Living, Inc.
• Diversicare
• Extendicare
• Genesis HealthCare
• Sonida Senior Living

Market Dynamics

In order to make informed business decisions and strategies, it’s important to be informed of the many factors impacting the market. What is driving growth in the market and how does that influence new product releases? What challenges are increasing risk for a specific course of action or in a specific market? What will the key trends be over the next several years and what is the best way to take advantage of them? The answers to these questions help companies to evaluate business approaches and develop growth strategies.

The nursing home sector makes up a significant percentage of the LTC market, providing round-the-clock care and support to residents. Nursing staff are essential for delivering personalized LTC services and leveraging telehealth technologies to address the healthcare needs of residents. Telephonic consultation and real-time patient data facilitate timely interventions and reduce the need for emergency admissions.

Addressing the unmet needs of older adults requires a comprehensive approach, including the integration of advanced technologies, software solutions, and personalized LTC plans. Healthcare expenditure and reimbursement frameworks are important to the success of the LTC market, with favorable government policies and public spending driving growth in paid LTC services.

Technological advancements are reshaping the LTC landscape, with suppliers investing in innovative solutions to improve the quality of care and enhance patient outcomes. Palliative care and hospice services are also gaining importance, providing comfort and support to individuals with advanced illnesses.

FAQ

What are Long-Term Care Services (LTC)?

Long-Term Care Services encompass a range of medical, personal, and social services designed to support individuals who need assistance with daily activities over an extended period, typically due to aging, chronic illness, or disability.

What types of services are included in Long-Term Care?

Services can include assistance with activities of daily living (ADLs) such as bathing, dressing, eating, toileting, medication management, mobility assistance, nursing care, therapy services (physical, occupational, speech), and social services.

How is Long-Term Care funded?

Funding sources for Long-Term Care include private payments (out-of-pocket), long-term care insurance, Medicaid for low-income individuals, Medicare for limited skilled nursing care, and veterans' benefits for eligible veterans.

What are the challenges facing the Long-Term Care Services Market?

Challenges include rising costs of care, workforce shortages, regulatory compliance, maintaining quality of care, addressing diverse patient needs, and adapting to evolving healthcare policies and reimbursement models.

How is technology influencing Long-Term Care Services?

Technology innovations such as telehealth, remote monitoring devices, electronic health records (EHRs), and assistive technologies are enhancing care delivery, improving efficiency, and supporting aging in place initiatives.

What are the trends in the Long-Term Care Services Market?

Trends include a shift towards home and community-based care, emphasis on person-centered care models, integration of technology solutions, focus on quality metrics and outcomes, and efforts to enhance caregiver training and support.

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
  • Exhibit 13: Market segments

• 3.3 Market size 2023

• 3.4 Market outlook: Forecast for 2023-2028
  • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
  • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

• 4.1 Dietary supplements market in North America 2018 - 2022
  • Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2018 - 2022
  • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)

• 4.3 Product Segment Analysis 2018 - 2022
  • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)

• 4.4 Geography Segment Analysis 2018 - 2022
  • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
  • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

• 5.2 Bargaining power of buyers
  • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

• 5.3 Bargaining power of suppliers
  • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

• 5.4 Threat of new entrants
  • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

• 5.5 Threat of substitutes
  • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

• 5.6 Threat of rivalry
  • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

• 5.7 Market condition
  • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
  • Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
  • Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)

• 6.2 Comparison by Distribution Channel
  • Exhibit 31: Chart on Comparison by Distribution Channel
  • Exhibit 32: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2023-2028
  • Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
  • Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)

• 6.4 Online - Market size and forecast 2023-2028
  • Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
  • Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)

• 6.5 Market opportunity by Distribution Channel
  • Exhibit 41: Market opportunity by Distribution Channel ($ billion)
  • Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
  • Exhibit 43: Chart on Product - Market share 2023-2028 (%)
  • Exhibit 44: Data Table on Product - Market share 2023-2028 (%)

• 7.2 Comparison by Product
  • Exhibit 45: Chart on Comparison by Product
  • Exhibit 46: Data Table on Comparison by Product

• 7.7 Others - Market size and forecast 2023-2028
  • Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
  • Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)

• 7.8 Market opportunity by Product
  • Exhibit 67: Market opportunity by Product ($ billion)
  • Exhibit 68: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview
  • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
  • Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
  • Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)

• 9.2 Geographic comparison
  • Exhibit 72: Chart on Geographic comparison
  • Exhibit 73: Data Table on Geographic comparison

• 9.6 Market opportunity by geography
  • Exhibit 74: Market opportunity by geography ($ billion)
  • Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges
  • Exhibit 76: Impact of drivers and challenges in 2023 and 2028

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
  • Exhibit 77: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
  • Exhibit 78: Overview on factors of disruption

• 11.4 Industry risks
  • Exhibit 79: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
  • Exhibit 80: Vendors covered

• 12.2 Market positioning of vendors
  • Exhibit 81: Matrix on vendor position and classification

• 13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
  • Exhibit 82: Inclusions checklist
  • Exhibit 83: Exclusions checklist

• 13.3 Currency conversion rates for US$
  • Exhibit 84: Currency conversion rates for US$

• 13.4 Research methodology
  • Exhibit 85: Research methodology
  • Exhibit 86: Validation techniques employed for market sizing
  • Exhibit 87: Information sources

• 13.5 List of abbreviations
  • Exhibit 88: List of abbreviations