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Long Term Care Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2026

Author : Ronak Bora | Published Date : 2020-09-04 

Long Term Care Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Augmenting geriatric population and advancing medical technology have offered prolific growth opportunities to long term care market players. Long term care involves a multitude of services developed to cater to people’s care needs during a short or long period of time. Prevalence of several diseases, such as Alzheimer's, dementia, etc., will provide a considerable push to the growth of long-term care industry.

According to a comprehensive report by Global Market Insights, Inc., long-term care market size is expected to exceed USD 1,500 billion by 2026.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/3895

Growing incidences of chronic diseases has changed the healthcare business landscape over the years. There has been an increase in the prevalence of Alzheimer’s along with other dementias among the elderly population. Dementia is capable of affecting the older people significantly and has been said to be the strongest cause of disabilities among that section of the population across the world.

According to the World Health Organization (WHO), about 50 million older population had been suffering from dementia and more than 10 million new cases had been reported annually. This has resulted in a substantial increase in the demand for special dementia care centers to be able to efficiently treat and manage a patient’s health, influencing long term care demand.

Care centers have begun providing insurance plans which are essentially offering a coverage for providing nursing care, adult daycare for all the people above the age of 65 as well as home health care. Patients who suffer from chronic or disabling conditions tend to need consistent supervision along with medical care.

The insurance policies provide maximum choices and flexibility compared to the other public assistance programs that shall boost the growth of the industry. Long term care has always been expensive, that has led people to opt for various other insurance plans.

For example, the nursing care facilities tend to charge about USD 150 to 300 every day with the total amount coming up to USD 80,000 every year or even more. The long term care insurance has been advantageous for every individual who can rely on family members or even children, leading to a major contribution towards the long term care market size expansion.

Chronic or disability diseases are common among the female geriatric population. The lifespan of a female is said to be nearly 5 years more than males, which increases the need for long term care demand from this segment.

As per the American Association for Long Term Care Insurance, the average lifespan of women sits at 81 while the average for men is 76 years. Women are more susceptible to suffer from chronic diseases like arthritis and Alzheimer’s than men, creating positive growth prospects for long term care providers. The female segment had accounted for about USD 550 billion in value in 2019. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/long-term-care-market

Partial Chapter of the Table of Content 

Chapter 4. Long Term Care Market, By Service Type

4.1. Key segment trends

4.2. Home healthcare services

4.2.1. Market size, by region, 2015 – 2026 (USD Million)

4.3. Facility based care services

4.3.1. Market size, by region, 2015 – 2026 (USD Million)

4.4. Community-based services

4.4.1. Market size, by region, 2015 – 2026 (USD Million)

4.4.2.  Adult day care centers  Market size, by region, 2015 – 2026 (USD Million)

4.4.3. Continuing care retirement communities (CCRC)  Market size, by region, 2015 – 2026 (USD Million)

4.4.4. Others  Market size, by region, 2015 – 2026 (USD Million)

4.5. Others

4.5.1.   Market size, by region, 2015 – 2026 (USD Million)

Chapter 5. Long Term Care Market, By Age Group

5.1. Key segment trends

5.2. 65 to 74

5.2.1.  Market size, by region, 2015 – 2026 (USD Million)

5.3. 75 to 84

5.3.1.  Market size, by region, 2015 – 2026 (USD Million)

5.4. 85 and older

5.4.1.  Market size, by region, 2015 – 2026 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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