United States Nursing Care Market Insights Report 2024: Industry to See Prominent Growth by 2029 with Strong Demand for Skilled Nursing Services

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Feb 28, 2024, 11:15 ET

DUBLIN, Feb. 28, 2024 /PRNewswire/ -- The "U.S. Nursing Care Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The United States nursing care market, valued at USD 475.15 billion in 2023, is poised to expand significantly at a CAGR of 6.47% over the forecast period from 2023 to 2029. This growth trajectory underscores a resolute demand for nursing care services across the country, propelled by an aging population and prevalent chronic health conditions.

Enhanced by a robust aging demographic, the market is responding to the escalating necessity for long-term care facilities, skilled nursing, and home healthcare services. Striking growth within the skilled nursing segment, driven by a surge in age-associated diseases and chronic conditions, highlights a compelling trend of healthcare provision shifting to cost-efficient, high-quality care alternatives.

The steady climb in public expenditure, at a noteworthy CAGR of 6.71%, signals strong governmental support and reliance on Medicare services, coupled with state-level initiatives to moderate long-term care costs through Long-Term Care Partnership Programs.

Regional and Demographic Disparities Reflect Market Dynamics

Gender-wise, the market skews toward the female segment, witnessing an absolute growth of 47.81% during the forecast period, as women typically outlive men and display proactive health-seeking behavior. Geographically speaking, the South region leads the market owing to its favorable cost of living and tax environment, attracting a growing retiree population.

Competitive Landscape Intricacies and Key Players

Key players dominate the U.S. nursing care market, enjoying a broad geographical presence, expertise, and strong brand recognition. They are seen continually innovating with strategic mergers and acquisitions and introducing tailored services like luxury accommodations and customized living facilities. This intense competition among established entities and the influx of new ventures promise to reshape the contours of the market.

Innovative market strategies and the comprehensive spectrum of services offered by notable companies such as Brookdale Senior Living, ProMedica Senior Care, and Ensign Group lend credence to the sector's vitality. From skilled nursing facilities to assisted living communities, these organizations are central to the robust performance and future prospects of this essential industry.

U.S. Nursing Care Market Prospects and Interrogatives

Enhancement of Service Quality a Focal Point for U.S. Nursing Care Providers

The U.S. nursing care market showcases significant expansion prospects through 2029.
Market drivers such as the aging population and increased chronic health issues are pivotal to this growth.
Regional market trends display the South leading in growth due to its financial attractivity for retirees.

This industry analysis marks out a pivotal moment for the U.S. nursing care market, delving into key factors shaping its trajectory and providing essential insights for stakeholders. As the market trends towards increased segmentation and diversification of services, it stands at the cusp of transformation influenced by profound demographic and economic forces.

A selection of companies mentioned in this report includes

Fair Acres
RiverSpring Living
The Plaza Rehab & Nursing Center
NYC Health + Hospitals
Laguna Honda
Kings Harbor Multicare Center
Brookdale Senior Living
ProMedica Senior Care
Consulate Health Care
Ensign Group
Genesis Healthcare
Life Care Centers of America
Humana
Enlivant
Bayada Home Health Center
National Church Residencies
Sunrise Senior Living
Sonida Senior Living
Five Star Senior Living
BrightSpring Health Services
Fresenius Medical Care
Amedisys
Eddy Senior Living
Embassy Healthcare Services
Erickson Senior Living
Frontier Senior Living
Gardant Management Solutions
Bickford Senior Living
VNS Health
Valeo
Pacifica Senior Living
Life Care Services
MBK Senior Living
Hanceville Nursing and Rehab Center
Park Avenue Health & Rehabilitation Center
Ararat Home of Los Angeles
Colorado State Veterans Home
A.G. Rhodes

For more information about this report visit https://www.researchandmarkets.com/r/wdsejh

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