Global Nursing Care Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global nursing care market is expected to grow from $1010.1 billion in 2019 to $1058.6 billion in 2020 at a compound annual growth rate (CAGR) of 4.9%, despite the economic slowdown across countries owing to the pandemic outbreak. This is mainly because of the huge demand for nursing care providers including emergency medical service personnel, nurses, nursing assistants, physicians, trainees, and contractual staff, who are at the frontline tackling COVID-19 virus and providing care for coronavirus patients across the world. There is a rise in demand for home health-care workers comprising nurses, therapists and personal care aides for the most vulnerable population. The market is then expected to grow at a CAGR of 7% from 2021 and reach $1374.9 billion in 2023.
The nursing care market consists of sales of nursing care and related goods by entities (organizations, sole traders and partnerships) that provide home health care and residential nursing care. This industry includes establishments that provide home healthcare services, nursing care facility services, personal services, counselling services, vocational therapies, rest home services, social services, and nutritional services.
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The global nursing care market is further segmented:
By Type: Home Health Care Providers, Nursing Care Facilities, Orphanages and Group Homes, Retirement Communities.
By End-User Gender: Male, Female.
By Type of Expenditure: Public, Private.
Subsegments Covered: Home Health Care Agencies, Visiting Nurses, In-Home Hospice Care Services, Assisted Living Facilities Without On-Site Nursing Care, Assisted Living Facilities For The Elderly Without Nursing Care, Continuing Care Retirement Communities, Rest Homes Without Nursing Care.
By Geography: The global nursing care market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Western Europe nursing care market accounts for 43% as the largest share of the global nursing care market 2019.
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Trends In The Nursing Care Market
Integrated care services are being offered by many organizations in this industry to increase revenues by offering additional services. Integrated care offers a wide variety of medical care at various levels of intensity including transitional hospital care, short-term rehabilitation, home health, hospice, palliative care and personal home care assistance, allowing the health care companies to provide services to the patients in a range of settings. Home health care service providers, such as Kindred Healthcare, are providing home integrated care services which are being adopted by patients.
Nursing Care Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides nursing care market overviews, analyzes and forecasts market size and growth for the global nursing care market, nursing care market share, nursing care market players, nursing care market segments and geographies, nursing care market’s leading competitors’ revenues, profiles and market shares. The nursing care market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.