The Asia-Pacific long-term care market is anticipated to grow at a healthy CAGR of 7.8% during the forecast period. Increased occurrence of chronic diseases, rising geriatric population, improved awareness of wellness, and dearth of medical professionals are the key factors driving the home healthcare market in the Asia-Pacific. The fear of contagion and growing geriatric population have increased the adoption and penetration of home healthcare services, which has resulted in the expansion of long-term care market. Additionally, with the social distancing norms in place, people are avoiding or postponing hospital visits for routine check-ups, chronic ailments, or even surgeries and are switching to video consultations or taking necessary steps to be able to manage medical care at home, until it’s a case of emergency absolutely requiring a hospital visit. Thus, these facets are bolstering the growth of the long-term care market in the Asia-Pacific.

Further, according to WHO, more than 7.5% of the population in Asia-Pacific is aged more than 65 years. Out of which, it is estimated that almost two-thirds of the population is suffering from at least one chronic disease. With the high prevalence of chronic diseases in the aged population, the need for proper long-term care service arises, which could further help in reducing healthcare expenditure and implement preventive measures. 

The long-term care market is segmented based on the service type and point of care. Based on service type, the market is sub-segmented into medical services (in-house therapy, skilled nursing, and others) and assisted living services. Based on point of care, the market is categorized into homecare and hospitals (rehabilitation center). Among service type, in-house therapy segment is expected to hold a major share in the long-term care market. In-house therapy provides personal assistance services that help people stay in their homes when they need assistance with Activities of Daily Living (ADL). In-house therapy services include hourly, live-In and spousal. In-home agency also provides similar in-home care hourly services at individual’s place of residence. 

Country-wise, the market is segmented into China, Japan, India, South Korea, and the Rest of Asia-Pacific. China is anticipated to be the largest market for long-term care in the Asia-Pacific. In China, the central government has issued various policies and measures in the past years, including an elderly care system that offers a wide range of services in, both, rural and urban areas, financially supported by individuals, families, communities, and care institutions. In addition, as per the National Healthcare Security Administration, in China, more than 57 million people in 2019 are covered by a new insurance program designed to provide care to those who have lost the ability to live alone. Thus, the Chinese long-term care market is flourishing.

Research Methodology

The market study of the Asia-Pacific long-term care market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Long-Term Care Market Research and Analysis by Service Type
2. Asia-Pacific Long-Term Care Market Research and Analysis by Point of Care

The Report Covers

• Comprehensive research methodology of the Asia-Pacific long-term care market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific long-term care market.
• Insights about market determinants which are stimulating the Asia-Pacific long-term care market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.