Nursing Care Services Market Report Size, Share, Growth, CAGR Value Analysis By 2026, Global Industry Overview 2020, Merger, Technology Trends, Top Company Profile, Competitive Landscape, Regional Forecast
Global Nursing Care Services Market
Nursing care services provide special care to patients suffering from chronic diseases, such as Parkinson’s disease and Alzheimer’s disease. These services are primarily intended for ailing patients who require constant attention, often for severe injuries as well. At nursing centers, trained professionals offer a wide range of nursing services, such as wound dressing, personal hygiene, and timely medications, patient nursing, rehabilitation services, as well as accommodation to people with specific disabilities or chronic disorders. These service centers also assist patients with interventional medications, through skilled speech therapists and physiotherapists.
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Global Nursing Care Services Market – Drivers & Restraints
Increasing number of patients with chronic diseases, such as Alzheimer’s disease and dementia, is a major driving factor for the growth of the global nursing care services market. According to the World Health organization (WHO), there are around 47.5 million patients around the world suffering from dementia every year. Moreover, the rising geriatric population is stimulating the global market growth. The data published by the Centers for Disease Control and Prevention (CDC) reveals that of a total of 15,600 nursing homes in the U.S., around 69.8% are for-profit nursing homes. The for-profit nursing care services segment, therefore, holds a significant share in the global nursing care services market, due to the surging awareness about effective nursing care.
However, certain aspects, such as low acceptance of nursing services, high costs of these services, reduced government funding, and reduction in Medicaids and medical reimbursements, are said to hinder the growth of the global nursing care services market. As per the data issued in the Modern Health Talk (mHealthTalk), backed by the U.S Department of Health and Services, nursing care services are fairly expensive. For instance, a private room for nursing services charges up to $83,000 per year, while the federal government helps patients by paying around 57% of their Medicaid expenses annually.
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Global Nursing Care Services Market Taxonomy
The global nursing care services market is broadly segmented in terms of patient groups, type of connectivity, and industry products.
By patient groups:
- People with chronic diseases
- Aged people
- Injured people
- Disabled people
- Retirement homes
- Rest homes
By type of connectivity:
- Hospital connectivity
- Assisted living community connectivity
By industry product:
- For-profit nursing homes
- Non-profit nursing homes
- Government nursing homes
- Hospice centers
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Global Nursing Care Services Market – Regional Segmentation
The global nursing care services market comprises significant regions, including North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Among these regions, North America holds the biggest share in the global nursing care services market, owing to the increased awareness about the importance of nursing care services, a well-defined regulatory framework, and provisions of reimbursement coverage in this region. Additionally, increasing cases of chronic diseases is driving the regional market growth. The Alzheimer’s Association published a report in Alzheimer’s disease Facts 2017, which estimated that around 5.3 million people in the U.S., aged 65 years and above, along with 200, 000 young people, were suffering from the Alzheimer’s disease.
Key market players are striving to provide quality services with the help of Internet of Things
The key players operating in the nursing care services market include Golden Living, Apria Healthcare Group Incorporated, Linacre Inc., Genesis healthcare, Sun Healthcare Group Incorporated, Sunrise Senior Living Incorporated, Genitive, Emeritus Co., and Brookdale Senior Living & Expenditure Incorporated.
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These companies have augmented their spending on residential nursing care services and home healthcare services. Moreover, they have been approaching more patients with the help of Internet of Things (IoT). Through IoT, the nursing centers are able to offer high-quality services to patients and keep a track on the health of aged and chronically ill patients.
Table of Content
Global Nursing Care Services Market Research Report
Section 1: Global Nursing Care Services Industry Overview
Section 2: Global Economic Impact on Nursing Care Services Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Nursing Care Services Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Nursing Care Services Market Forecast
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