The Europe long-term care market is anticipated to grow at a substantial CAGR of 7.5% during the forecast period. The changing socio-economic factors and growing favorable policies and initiatives for telehealth are some of the factors driving the long-term care market in this region. Moreover, the presence of a higher percentage of digitally literate people than that in other geographies is driving the overall growth of the long-term care market in Europe. For instance, according to the data published by Eurostat, more than four-fifths (around 85%) of all households in the EU had internet access in 2019. Between 2007 and 2016, the proportion of households with dependent children and internet access was consistently higher than households without dependent children. The gap between households with dependent children and those without continued to grow in the region.

According to the EU, Europeans are living longer than ever before and the age profile of society is rapidly developing. Demographic ageing means the proportion of people of working age in the EU is shrinking, while the number of older people is expanding; this pattern will continue in the next couple of decades, as the post-war baby-boom generation completes its move into retirement. It is projected that there will be close to half a million centenarians in the EU-27 by 2050. Such developments are likely to have profound implications, not only for individuals, but also for governments, business and civil society, impacting, among others: health and social care systems, labor markets, public finances, among more. Thus, increasing geriatric population is estimated to play an integral role in the growth of the long-term care market in Europe. 

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 analyzed based on the UK, Germany, France, Italy, Spain, and Rest of Europe. In 2020, UK is expected to account for a major market share in the Europe long-term care market, and it is also expected to grow at one of the fastest rates over the forecast period. In the United Kingdom, most of the long-term care is provided by unpaid carers; formal provisions are delivered mainly by health and social care services. The funding for long-term care is based on taxation and means-tested user charges. Owing to funding from the government and increase in need for long-term care, the country is likely to witness high adoption of long-term care services.

Research Methodology

The market study of the Europe 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. Europe Long-Term Care Market Research and Analysis by Type
2. Europe Long-Term Care Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Europe 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 Europe long-term care market.
• Insights about market determinants which are stimulating the Europe long-term care market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.