Nursing Care / Services

Nursing Care / Services

Global Nursing Care / Services Market to Reach US$676.8 Billion by 2030

The global market for Nursing Care Services estimated at US$466.1 Billion in the year 2023, is expected to reach US$676.8 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2023-2030. Home Healthcare Providers, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$365.3 Billion by the end of the analysis period. Growth in the Retirement Communities segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$127.0 Billion While China is Forecast to Grow at 9.0% CAGR

The Nursing Care / Services market in the U.S. is estimated at US$127.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$143.3 Billion by the year 2030 trailing a CAGR of 9.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.2% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.

Global Nursing Care Services Market - Key Trends & Drivers Summarized

Why Is the Demand for Nursing Care Services Increasing?

Nursing care services are in high demand due to the rapidly aging global population and the growing prevalence of chronic diseases. With life expectancy increasing, many elderly individuals require long-term care services to manage conditions such as diabetes, cardiovascular diseases, and dementia. Nursing care services encompass a wide range of options, including home healthcare, residential care facilities, and specialized nursing homes. These services are crucial for providing day-to-day medical care, rehabilitation, and assistance with activities of daily living. As healthcare systems around the world face pressure from rising patient loads, nursing care services are becoming an essential part of the healthcare ecosystem, ensuring that individuals receive the personalized care they need.

How Are Technological Innovations Improving Nursing Care Services?

Technological advancements are significantly improving the quality and efficiency of nursing care services. Remote monitoring systems and telemedicine platforms allow healthcare providers to track patients` vital signs and health conditions in real-time, enabling early interventions and reducing hospital readmissions. Wearable health devices, such as heart rate monitors and glucose sensors, are also empowering patients to manage their health more proactively while receiving continuous monitoring from nursing staff. Furthermore, electronic health records (EHRs) have streamlined patient data management, ensuring that nurses and healthcare providers can access up-to-date medical information to provide coordinated care. Robotics and artificial intelligence (AI) are beginning to assist with routine tasks, easing the physical burden on nursing staff and improving patient care.

How Are Policy Changes and Demographic Shifts Shaping the Nursing Care Industry?

Governments around the world are increasingly focusing on improving long-term care services, including nursing care, as part of broader healthcare reforms. Many countries are implementing policies that increase funding for elderly care, promote home-based care solutions, and enhance the quality of nursing facilities. These initiatives aim to address the growing healthcare needs of aging populations while reducing the strain on hospital systems. Demographic shifts, such as the rise in single-person households and the growing number of elderly individuals without familial support, are also driving demand for professional nursing care services. The increasing awareness of the importance of mental health and geriatric care is further contributing to the expansion of the nursing care services market.

The Growth in the Nursing Care Services Market Is Driven by Several Factors

The growth in the nursing care services market is driven by several factors, including the global aging population and the rising prevalence of chronic diseases that require long-term management. Technological advancements in telemedicine, wearable health devices, and remote monitoring are making nursing care services more efficient and accessible. Policy changes and government funding for elderly care are expanding the availability of professional nursing services, while demographic trends such as the decline in multi-generational households are increasing the need for external care solutions. The growing focus on improving quality of life for elderly individuals and providing personalized healthcare services is also fueling the market`s expansion.

Select Competitors (Total 113 Featured) -

• Atria Senior Living Group
• Brookdale Senior Living
• Emeritus Corporation
• Extendicare
• Genesis Healthcare Corp.
• Genesis HealthCare Inc.
• Gentiva Health Services
• HCR ManorCare
• Home Instead Senior Care
• Kindred Healthcare
• Senior Care Centers of America
• Sunrise Senior Living

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