Home Health Care And Residential Nursing Care Services Global Market Report 2023 – By Type (Home Health Care Providers, Retirement Communities, Nursing Care Facilities, Orphanages And Group Homes), By End User Gender (Male, Female), By Type Of Expenditure

Home Health Care And Residential Nursing Care Services Global Market Report 2023 – By Type (Home Health Care Providers, Retirement Communities, Nursing Care Facilities, Orphanages And Group Homes), By End User Gender (Male, Female), By Type Of Expenditure (Public, Private) – Market Size, Trends, And Global Forecast 2023-2032

Home health care and residential nursing care services are medical services that are provided to patients at their home. These services are used to treat patients that cannot travel to hospitals.

The home health care and residential nursing care services market consists of sales of home health care and residential nursing care services and related goods by entities (organizations, sole traders and partnerships) that provide home health care and residential nursing care, including personal services, counselling services, vocational therapies, rest home services, social services, and nutritional services.

The main types of home health care and residential nursing care services are home health care providers, retirement communities, nursing care facilities, and orphanages and group homes. A nursing care facility is an in-patient rehabilitation and medical treatment institution staffed by qualified medical personnel. The different expenditure types include public and private which are used by male and female.

The home health care and residential nursing care services market research report is one of a series of new reports from The Business Research Company that provides home health care and residential nursing care services market statistics, including home health care and residential nursing care services industry global market size, regional shares, competitors with a home health care and residential nursing care services market share, detailed home health care and residential nursing care services market segments, market trends and opportunities, and any further data you may need to thrive in the home health care and residential nursing care services industry. This home health care and residential nursing care services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global home health care and residential nursing care services market grew from $1,095.63 billion in 2022 to $1,155.36 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home health care and residential nursing care services market is expected to grow to $1,370.63 billion in 2027 at a CAGR of 4.4%.

Access to health care services is expected to improve in developing countries, driving the nursing care market in those geographies. Effective implementation of health plans is the core reason for the improvement in healthcare access in many developing countries such as India, China and Latin American countries. Some country-specific health reforms which were set to improve healthcare access include China’s Urban Resident Basic Medical Insurance and New Rural Cooperative Medical Insurance schemes, Brazil’s Unified Health System and Mexico’s Popular Health Insurance. Improvement in healthcare access is expected to have a positive impact on the growth of the nursing care market.

The nursing care market is expected to be limited by a shortage of trained doctors, consultants, nurses and caregivers in both developed and developing countries. Developing countries face a high shortage of healthcare professionals as the demand for nursing care rises. For example, according to the World Health Organization (WHO), there will be a shortage of 18 million health workers by 2030, with the majority of this personnel coming from low- and lower-middle-income countries. Developed nations are also experiencing a similar crisis. This is mainly due to the lack of right skills, and lack of education and right work experience among the candidates. Going forward, the shortage of healthcare personnel is likely to continue to act as a restraint on the nursing care market.

The nursing care industry is adopting big data technologies to monitor patients’ health and offer appropriate care. Big data is large amounts of data that can be analysed to gain insights and drive decision-making. Big data allows the nursing care providers to access to a significant amount of data that can be used to aid health care professionals to identify future health risks and suggest suitable remedies. Home care providers can also use this data to identify the irregularities in the treatment of patients and improve the effectiveness of the treatment. For example, MJHS, a leading home care, palliative, and hospice provider in the US has adopted eCaring, a big data technology solution, to monitor a patient’s health every hour and track individual patient behaviors and health outcomes.

Major companies in the home health care and residential nursing care services market include UnitedHealth Group Incorporated, Kaiser Permanente, Encompass home health, Orpea, Genesis Healthcare, Brookdale Senior Living, Golden Living, The Ensign Group, Inc., LHC Group and Amedisys Inc.

Western Europe was the largest region in the home health care and residential nursing care services market in 2022. North America was the second largest region in the home health care and residential nursing care services market. The regions covered in the home health care and residential nursing care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the home health care and residential nursing care services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

The home health care and residential nursing care services market includes revenues earned by entities by providing home health care and residential nursing care, including personal services, counseling services, vocational therapies, rest home services, social services, and nutritional services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The global home health care and residential nursing care services market is segmented -

1) By Type: Home Health Care Providers, Retirement Communities, Nursing Care Facilities, Orphanages & Group Homes

2) By End User Gender: Male, Female

3) By Type of Expenditure: Public, Private

Subsegments Covered: Home Health Care Agencies, Visiting Nurses, In-Home Hospice Care Services, Assisted Living Facilities Without On-Site Nursing Care, Assisted Living Facilities For The Elderly Without Nursing Care, Continuing Care Retirement Communities, Rest Homes Without Nursing Care

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