North America long-term care is estimated to display a rapid CAGR of 6.8% during the forecast period (2021-2027). North America is likely to witness considerable growth in its geriatric population, general age-related disabilities, and the elderly patient population suffering from chronic diseases such as heart problems, Alzheimer’s, dementia, and mental stress. In addition, hospitalization also proves to be expensive and incurs unnecessary use of resources, which can be utilized by patients in critical conditions. Unnecessary hospitalization often results in higher expenditure and degrades the quality of life. Thus, increasing preference for nursing care such as home healthcare, nursing care facility, hospices, and assisted living facilities among baby boomers in the US is increasing. Thus, the long-term care market in North America is set to grow exponentially.
Browse the full report description North America Long-Term Care Market Size, Share & Trends Analysis Report by Service Type (Medical Services (In-house Therapy, Skilled Nursing, and Others) and Assisted Living Services) and by Point of Care (Homecare and Hospitals (Rehabilitation Center) Forecast Period (2021-2027) at https://www.omrglobal.com/industry-reports/north-american-long-term-care-market
Moreover, the US is the most developed country in the world, with a GDP growing at a very high rate. Also, currently, the US is ranked first in the global GDP ranking. Owing to this GDP growth rate and the highest GDP across the globe, the demand for long-term care is expected to rise as people are expected to become more stable financially. With the increasing demand for home healthcare, service providers are introducing innovative technologies and software to improve the quality of care. It is expected that hospice care will grow enormously in the forecast period due to the increasing prevalence of chronic diseases and the need for 24-hour medical attention. According to the National Hospice and Palliative Care Organization (NHPCO), in 2017, around 1.49 million Medicare beneficiaries received hospice care for one day or more. Approximately 48.2% of these beneficiaries were receiving hospice care at the time of their death.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
Global Long-Term Care Market Report Segment
By Type
o In-House Therapy
o Skilled Nursing
o Others
By Point of Care
North America Long-Term Care Market Report Segment
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